Jefferies Analyst Downgrades Lexington Realty Trust (LXP) to Hold
Jefferies analyst, Jonathan Petersen, downgraded Lexington Realty Trust (NYSE:LXP) from Buy to Hold and issued a price target of $11.00.
The analyst explains, “Management’s execution of the ’16 business plan is on track – most importantly the sale of non-core properties. We believe LXP’s portfolio is stronger today than it has been in many years. That said, following a 65% run-up in the stock since its mid-Feb low (+3,500 bps outperformance relative to triple-net peers, +3,400 bps vs RMZ), we are taking profits and moving to the sidelines. We maintain our $11 PT and lower our rating to Hold, from Buy.”
According to TipRanks, Petersen is ranked #496 of 4,064 analysts.