UPDATE: Jefferies Reiterates On Lexington Realty Trust Following Investor Meetings

In a report published Monday, Jefferies analyst Omotayo Okusanya reiterated a Buy rating on

, but lowered the price target from $14.00 to $13.00. In the report, Jefferies noted, “On 9/17-18, we hosted investor meetings with LXP in NYC and Boston. We believe LXP stock may continue to face near-term headwinds amid negative renewal spreads and impending vacancy in some of the suburban office assets. However, management's active capital recycling and the built-to-suit investment pipeline should improve LXP's portfolio, earnings growth profile and financial position starting 2H15. As such, we reiterate our Buy rating but lower our PT to $13.” Lexington Realty Trust closed on Friday at $10.44.