Lexington Realty Trust (LXP - 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 - Free Report) , Summit Hotel Properties, Inc. (INN - Free Report) and W. P. Carey Inc. (WPC - Free Report) . Each of these stocks sports a Zacks Rank #1 (Strong Buy).
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From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
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Lexington Realty Trust (LXP - 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 - Free Report) , Summit Hotel Properties, Inc. (INN - Free Report) and W. P. Carey Inc. (WPC - Free Report) . Each of these stocks sports a Zacks Rank #1 (Strong Buy).
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report >>
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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