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KeyBanc Starts Lexington Realty Trust (LXP) at Hold

March 25, 2013 8:01 AM EDT Send to a Friend
Get Alerts LXP Hot Sheet
Price: $10.60 +1.63%

Rating Summary:
    3 Buy, 3 Hold, 1 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 15 | Down: 16 | New: 67
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KeyBanc initiated coverage on Lexington Realty Trust (NYSE: LXP) with a Hold rating.

Analyst Craig Mailman said, "The recent M&A transactions between the publicly traded triple-net REITs and the non-traded REITS have provided valuation support that would suggest LXP and some of its peers may be mispriced. While this could certainly be the case, we suspect that the sub-6% to mid-6% cap rates being paid for ARCT and Cole are more a function of the lower cost of capital for some of the public peers and their desire/need to take down large portfolios with longer weighted average remaining lease terms and/or lower leverage in order to maintain their dividend growth."

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 $11.85 yesterday.




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