Lexington Realty Trust (LXP): Are Hedge Funds Right About This Stock?

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Lexington Realty Trust (NYSE:LXP) was in 15 hedge funds’ portfolio at the end of the first quarter of 2013. LXP investors should pay attention to an increase in enthusiasm from smart money lately. There were 14 hedge funds in our database with LXP positions at the end of the previous quarter.

Lexington Realty Trust (NYSE:LXP)

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Now, we’re going to take a peek at the key action surrounding Lexington Realty Trust (NYSE:LXP).

What have hedge funds been doing with Lexington Realty Trust (NYSE:LXP)?

At Q1′s end, a total of 15 of the hedge funds we track were bullish in this stock, a change of 7% from the previous quarter. With hedge funds’ sentiment swirling, there exists a few noteworthy hedge fund managers who were increasing their stakes significantly.

Of the funds we track, J. Alan Reid, Jr.’s Forward Management had the biggest position in Lexington Realty Trust (NYSE:LXP), worth close to $34.1 million, comprising 2.1% of its total 13F portfolio. Sitting at the No. 2 spot is Royce & Associates, managed by Chuck Royce, which held a $20.9 million position; the fund has 0.1% of its 13F portfolio invested in the stock. Other hedge funds that hold long positions include J. Alan Reid, Jr.’s Forward Management, Cliff Asness’s AQR Capital Management and Jim Simons’s Renaissance Technologies.

Consequently, some big names were breaking ground themselves. Pine River Capital Management, managed by Brian Taylor, initiated the largest position in Lexington Realty Trust (NYSE:LXP). Pine River Capital Management had 1.7 million invested in the company at the end of the quarter. Matthew Hulsizer’s PEAK6 Capital Management also initiated a $0.9 million position during the quarter. The other funds with brand new LXP positions are Paul Tudor Jones’s Tudor Investment Corp, Matthew Tewksbury’s Stevens Capital Management, and David Costen Haley’s HBK Investments.

How are insiders trading Lexington Realty Trust (NYSE:LXP)?

Bullish insider trading is at its handiest when the primary stock in question has experienced transactions within the past six months. Over the last six-month time period, Lexington Realty Trust (NYSE:LXP) has experienced zero unique insiders buying, and 4 insider sales (see the details of insider trades here).

Let’s also take a look at hedge fund and insider activity in other stocks similar to Lexington Realty Trust (NYSE:LXP). These stocks are Redwood Trust, Inc. (NYSE:RWT), Chimera Investment Corporation (NYSE:CIM), PS Business Parks Inc (NYSE:PSB), Brandywine Realty Trust (NYSE:BDN), and Newcastle Investment Corp. (NYSE:NCT). This group of stocks are in the reit – diversified industry and their market caps are closest to LXP’s market cap.

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