Track the companies that matter to you. It's FREE! Click one of these fan favorites to get started: Apple; Google; Ford.



Lexington Realty Trust Floats New Stock Issue

Lexington Realty Trust (NYSE: LXP  ) is putting its faith in the market to raise some capital. The real estate investment trust is floating 10 million shares of its common stock in an underwritten public issue priced at $11.17 per share.

Additionally, the REIT's underwriters have been granted a 30-day purchase option for up to an additional 1.5 million common shares.

Lexington said it plans to use its share of the proceeds of the offering to retire debt.

Earlier this week, the REIT announced it had acquired a portfolio of three parcels of land in Manhattan for $302 million.

Barclays and Wells Fargo Securities are the underwriters of the issue, which is expected to close "on or about" October 17.

At the moment, Lexington has nearly 216.4 million shares outstanding, and its stock trades at $11.46 per share.


Read/Post Comments (0) | Recommend This Article (0)

Comments from our Foolish Readers

Help us keep this a respectfully Foolish area! This is a place for our readers to discuss, debate, and learn more about the Foolish investing topic you read about above. Help us keep it clean and safe. If you believe a comment is abusive or otherwise violates our Fool's Rules, please report it via the Report this Comment Report this Comment icon found on every comment.

Be the first one to comment on this article.

Compare Brokers

Fool Disclosure

Sponsored Links

Leaked: Apple's Next Smart Device
(Warning, it may shock you)
The secret is out... experts are predicting 458 million of these types of devices will be sold per year. 1 hyper-growth company stands to rake in maximum profit - and it's NOT Apple. Show me Apple's new smart gizmo!

DocumentId: 2679255, ~/Articles/ArticleHandler.aspx, 9/29/2016 3:20:05 AM

Report This Comment

Use this area to report a comment that you believe is in violation of the community guidelines. Our team will review the entry and take any appropriate action.

Sending report...

Today's Market

updated 5 hours ago Sponsored by:
DOW 18,339.24 110.94 0.61%
S&P 500 2,171.37 11.44 0.53%
NASD 5,318.55 12.84 0.24%

Create My Watchlist

Go to My Watchlist

You don't seem to be following any stocks yet!

Better investing starts with a watchlist. Now you can create a personalized watchlist and get immediate access to the personalized information you need to make successful investing decisions.

Data delayed up to 5 minutes

Related Tickers

9/28/2016 4:02 PM
LXP $10.52 Up +0.06 +0.53%
Lexington Realty T… CAPS Rating: *****