High-yield commercial real estate investment trusts are no longer at the top of investors' shopping lists, which I think is a good opportunity to go bargain hunting. This REIT is a "Buy" on the drop. Shares appear to have bottomed out, are no longer oversold. The drop is a good opportunity to buy a commercial property REIT with solid dividend coverage stats at a bargain basement price. Shares are priced at ~8.1x run-rate AFFO and at an 8.8 percent yield.
Lexington Realty Trust's (LXP) shares have slumped precipitously since December. However, I think the bottom is now in, and income investors with a risk appetite may want to consider the commercial property REIT on the sell-off. Lexington Realty Trust has a diversified real estate portfolio and solid dividend coverage stats. Shares have an appealing risk-reward after the drop, and an investment in Lexington Realty Trust comes with an entry yield of 8.8 percent.
Source: Seeking Alpha
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