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Lexington Realty Receives Rating Affirmation from Moody's
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Ushering in good news for Lexington Realty Trust (LXP - 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 - Free Report) and Summit Hotel Properties, Inc. (INN - Free Report) . All these stocks sport a Zacks Rank #1 (Strong Buy).
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Lexington Realty Receives Rating Affirmation from Moody's
Ushering in good news for Lexington Realty Trust (LXP - 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 - Free Report) and Summit Hotel Properties, Inc. (INN - Free Report) . All these stocks sport 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 >>