Brokerages Set LXP Industrial Trust (NYSE:LXP) Price Target at $55.20

LXP Industrial Trust (NYSE:LXP) has been given a consensus rating of “Hold” by the nine brokerages that are currently covering the company, MarketBeat Ratings reports. Six investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $55.20.

A number of research analysts have recently commented on the stock. Citigroup reissued an “outperform” rating on shares of LXP Industrial Trust in a research report on Thursday, July 16th. Wall Street Zen downgraded shares of LXP Industrial Trust from a “hold” rating to a “sell” rating in a research note on Sunday, July 12th. BMO Capital Markets initiated coverage on shares of LXP Industrial Trust in a report on Thursday, July 9th. They issued an “outperform” rating and a $65.00 price objective on the stock. Weiss Ratings upgraded LXP Industrial Trust from a “hold (c)” rating to a “hold (c+)” rating in a research note on Monday, June 15th. Finally, Evercore set a $54.00 target price on LXP Industrial Trust in a research report on Monday, June 8th.

LXP Industrial Trust Price Performance

Shares of NYSE LXP opened at $60.49 on Thursday. LXP Industrial Trust has a 1-year low of $38.85 and a 1-year high of $61.61. The business has a 50-day moving average of $55.35 and a 200-day moving average of $51.51. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.10 and a quick ratio of 0.10. The company has a market capitalization of $3.57 billion, a price-to-earnings ratio of 60.49 and a beta of 1.04.

LXP Industrial Trust Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th were paid a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 4.6%. The ex-dividend date was Tuesday, June 30th. LXP Industrial Trust’s dividend payout ratio (DPR) is 280.00%.

Hedge Funds Weigh In On LXP Industrial Trust

A number of institutional investors have recently made changes to their positions in the business. Heartland Advisors Inc. acquired a new position in LXP Industrial Trust in the first quarter worth $10,705,000. Eurizon Capital SGR S.p.A. bought a new position in shares of LXP Industrial Trust in the 4th quarter worth about $1,169,000. Sumitomo Mitsui Trust Group Inc. raised its stake in LXP Industrial Trust by 3.2% during the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,159,623 shares of the real estate investment trust’s stock worth $53,644,000 after acquiring an additional 36,043 shares during the period. Principal Financial Group Inc. lifted its holdings in LXP Industrial Trust by 31.1% in the first quarter. Principal Financial Group Inc. now owns 369,658 shares of the real estate investment trust’s stock worth $17,100,000 after acquiring an additional 87,741 shares during the last quarter. Finally, Lasalle Investment Management Securities LLC lifted its holdings in LXP Industrial Trust by 6.9% in the first quarter. Lasalle Investment Management Securities LLC now owns 1,828,528 shares of the real estate investment trust’s stock worth $84,588,000 after acquiring an additional 117,737 shares during the last quarter. 93.52% of the stock is owned by institutional investors and hedge funds.

LXP Industrial Trust Company Profile

LXP Industrial Trust is a real estate investment trust that specializes in the ownership, acquisition and management of industrial properties across North America. The company’s portfolio consists of warehouses, distribution centers and manufacturing facilities designed to support supply-chain and logistics operations. By focusing on long-term leasing arrangements, LXP Industrial Trust aims to provide stable income streams while delivering value to tenants through modern, well-positioned industrial space.

The firm’s primary business activities include sourcing and under-writing new property investments, overseeing development and redevelopment projects, and implementing asset-management strategies to enhance the performance of its holdings.