We Will Be Adding Lexington Realty Trust to the Model
By: Tim McPartland,
Consistant with our prior writings we will be adding a starter position of 200 shares of REIT Lexington Realty Trust (ticker:LXP) to the Blended Income Model Portfolio. LXP is currently trading at $8.37 with a current yield of 8.12%. LXP has a 52 week trading range of $7.77 to $11.75.
LXP is a triple net lease operator with emphasis on office and industrial properties. The company easily covers their payout with their recent payout ratio at about 61%. Recently the company has announced a 10 million share repurchase program. LXP is a rock solid REIT, although unexciting with only very modest growth.
We believe our entry into LXP at this time (with a price much reduced from their 52 week high), should serve us well.