Lexington Realty Trust (LXP Quick QuoteLXP - Free Report) has announced the sale of two industrial and one office assets for gross proceeds of around $50 million. This disposition is in sync with the New York-based real estate investment trust’s (“REIT”) strategy of capital recycling and limiting its exposure to short-term leases. Further, the company is aiming at closing its operations in the office markets where it does not have a strong presence.

Notably, Lexington Realty sold its Boston, MA-based office property – 147 Milk Street – for a gross proceed of $33.3 million. Also, the company sold 7500 Chavenelle Road, the Dubuque, IA-based industrial property for $8.6 million and 477 Distribution Parkway, another industrial property, based in Collierville, TN for $7.7 million.

Lexington Realty is engaged in the ownership, operation and management of a diverse portfolio of real properties. A leader in single-tenant market, the REIT has expertise in sale-leaseback deals and provides construction financing of up to 100% to developers. Further, the long-term net lease deals with increase in rents per the contracts, maintain its cash flow momentum.

Zacks Rank & Stocks to Consider

The stock presently has a Zacks Rank #3 (Hold).

However, investors interested in the REIT sector can consider stocks like CoreSite Realty Corporation (COR Quick QuoteCOR - Free Report) , Summit Hotel Properties, Inc. (INN Quick QuoteINN - Free Report) and W. P. Carey Inc. (WPC Quick QuoteWPC - Free Report) . Each of these stocks sports a Zacks Rank #1 (Strong Buy).

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