Ushering in good news for Lexington Realty Trust (LXP Quick QuoteLXP - Free Report) , Moody’s Investor Service affirmed the company’s senior unsecured rating of “Baa2” with a stable outlook.

The affirmation of rating was backed by the company’s decent leverage and robust fixed charge coverage. Further, the persistently well-leased portfolio of the company as well as consistent cash flows from net leases with tenants also aided it. However, these positives were offset by a moderate exposure to suburban office properties and a high amount of secured debts.

A stable outlook indicates Lexington Realty’s ability to maintain financial discipline as well as generate robust earnings and occupancy growth.

New York-based Lexington Realty is a real estate investment trust (“REIT”) engaged in the ownership, operation, management of a diverse portfolio of real properties. The company boasts a balanced portfolio by geography and property type and strives to enhance the overall quality of its portfolio with its asset recycling program. Further, the company holds a strong liquidity position with a $400 million unsecured revolver, of which $147 million was outstanding at the end of first-quarter 2016.

Lexington Realty presently has a Zacks Rank #3 (Hold).

Some better-ranked stocks in the REIT space include Brookfield Canada Office Properties , CoreSite Realty Corporation (COR Quick QuoteCOR - Free Report) and Summit Hotel Properties, Inc. (INN Quick QuoteINN - Free Report) . All these stocks sport a Zacks Rank #1 (Strong Buy).

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