swanlinbar Tuesday, 09/25/18 06:54:27 AM Re: swanlinbar post# 125 Post # of 193 LXP out yesterday 8.27 very small gain Expect Dividend Cut to $0.40-0.48/sh in April 2019. Execution Risk. Watch and Wait. Maintain Sell. • Lexington Property Trust is pulling off the band-aid with: 1) recently announced and expected office dispositions of over $1B, 2) re-investing a portion of the proceeds into industrial assets,3) de-levering, 4) possibly re-purchasing shares. • While the merits of the strategy are obvious, the many moving pieces and overall execution risk causes us to maintain our Sell rating. • We note that LXP is not owned by many of the REIT dedicated crowd, and is in the hands of many income oriented investors; active and passive. We are unsure as to when these shareholders become aware of the dividend adjustment and how they respond. • While the dividend cut could push the stock lower, it could also provide LXP with an opportunity to increase their share re-purchase program And so we are told this is the golden age And gold is the reason for the wars we wage U2