LXP Industrial Trust (NYSE:LXP) Lifted to “Hold” at StockNews.com

StockNews.com upgraded shares of LXP Industrial Trust (NYSE:LXP) from a sell rating to a hold rating in a report published on Wednesday morning.

LXP Industrial Trust Stock Up 1.3 %

LXP Industrial Trust stock opened at $8.58 on Wednesday. LXP Industrial Trust has a one year low of $7.75 and a one year high of $10.75. The stock has a market cap of $2.53 billion, a PE ratio of 107.26 and a beta of 0.80. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.29 and a current ratio of 0.29. The stock has a fifty day moving average of $8.86 and a 200 day moving average of $8.92.

LXP Industrial Trust (NYSE:LXP) last issued its quarterly earnings results on Thursday, February 15th. The real estate investment trust reported $0.04 earnings per share for the quarter, missing the consensus estimate of $0.17 by ($0.13). The business had revenue of $83.00 million for the quarter, compared to analysts’ expectations of $83.74 million. LXP Industrial Trust had a return on equity of 1.37% and a net margin of 8.92%. The company’s revenue was up 2.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.17 EPS. As a group, sell-side analysts predict that LXP Industrial Trust will post 0.64 EPS for the current year.

LXP Industrial Trust Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Thursday, March 28th were paid a dividend of $0.13 per share. The ex-dividend date was Wednesday, March 27th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 6.06%. LXP Industrial Trust’s dividend payout ratio (DPR) is presently 650.08%.

Institutional Investors Weigh In On LXP Industrial Trust

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Norges Bank bought a new stake in shares of LXP Industrial Trust during the 4th quarter valued at $31,529,000. State Street Corp boosted its stake in LXP Industrial Trust by 12.6% in the 1st quarter. State Street Corp now owns 17,231,555 shares of the real estate investment trust’s stock worth $272,573,000 after purchasing an additional 1,921,716 shares during the period. Macquarie Group Ltd. boosted its stake in LXP Industrial Trust by 15.0% in the 1st quarter. Macquarie Group Ltd. now owns 13,741,004 shares of the real estate investment trust’s stock worth $141,669,000 after purchasing an additional 1,788,043 shares during the period. Waterfront Capital Partners LLC grew its holdings in LXP Industrial Trust by 105.0% during the 4th quarter. Waterfront Capital Partners LLC now owns 3,485,803 shares of the real estate investment trust’s stock valued at $34,579,000 after buying an additional 1,785,803 shares in the last quarter. Finally, Public Employees Retirement Association of Colorado raised its position in shares of LXP Industrial Trust by 4,618.9% during the fourth quarter. Public Employees Retirement Association of Colorado now owns 1,443,977 shares of the real estate investment trust’s stock valued at $14,324,000 after buying an additional 1,413,377 shares during the last quarter. 93.52% of the stock is owned by hedge funds and other institutional investors.

About LXP Industrial Trust

LXP Industrial Trust (NYSE: LXP) is a publicly traded real estate investment trust (REIT) focused on single-tenant industrial real estate investments across the United States. LXP seeks to expand its industrial portfolio through acquisitions, build-to-suit transactions, sale-leaseback transactions, development projects and other transactions.