Barclays Reiterates an 'Equalweight' on Lexington Realty Trust (LXP); Growing Pipeline, But Waiting on Cash in 2013

May 25, 2012 3:39 PM EDT
Get Alerts LXP Hot Sheet
Price: $10.67 -2.29%

Rating Summary:
    1 Buy, 7 Hold, 1 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 23 | Down: 34 | New: 34
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Barclays reiterates an 'Equalweight' on Lexington Realty Trust (NYSE: LXP) price target of $10.00.

Analyst, Ross L. Smotrich, said, "The near-term catalyst for LXP is continued capital recycling and development. Despite solid leasing during the quarter, rent spreads remain slightly negative and management does not expect an inflection until 2013. As such, we think that operating gains are further out."

Citing Q1, which beat estimates by $0.01, Smotrich, raises FY12 FFO estimates from $0.90 to $0.92. He also boosts FY13 from $0.87 to $0.94.

For an analyst ratings summary and ratings history on Lexington Realty Trust click here. For more ratings news on Lexington Realty Trust click here.

Shares of Lexington Realty Trust closed at $8.42 yesterday.

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