Mitsubishi UFJ Asset Management Co. Ltd. Invests $2.73 Million in LXP Industrial Trust $LXP

Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in LXP Industrial Trust (NYSE:LXP) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund purchased 50,759 shares of the real estate investment trust’s stock, valued at approximately $2,735,000.

Several other hedge funds have also bought and sold shares of LXP. EQ Wealth Advisors LLC bought a new stake in shares of LXP Industrial Trust during the fourth quarter worth about $34,000. IFP Advisors Inc lifted its holdings in LXP Industrial Trust by 63.8% during the fourth quarter. IFP Advisors Inc now owns 837 shares of the real estate investment trust’s stock worth $41,000 after acquiring an additional 326 shares during the period. Summit Securities Group LLC purchased a new position in shares of LXP Industrial Trust in the 1st quarter worth about $83,000. Caitong International Asset Management Co. Ltd purchased a new position in LXP Industrial Trust in the third quarter valued at about $26,000. Finally, EverSource Wealth Advisors LLC lifted its stake in LXP Industrial Trust by 101.7% in the second quarter. EverSource Wealth Advisors LLC now owns 3,481 shares of the real estate investment trust’s stock valued at $29,000 after purchasing an additional 1,755 shares during the last quarter. Institutional investors and hedge funds own 93.52% of the company’s stock.

Analysts Set New Price Targets

LXP has been the subject of a number of research reports. Citigroup reiterated an “outperform” rating on shares of LXP Industrial Trust in a research report on Thursday, July 16th. Evercore set a $54.00 price objective on LXP Industrial Trust in a research note on Monday, June 8th. Citizens Jmp cut shares of LXP Industrial Trust from a “market outperform” rating to a “hold” rating in a research note on Tuesday, July 21st. Weiss Ratings upgraded LXP Industrial Trust from a “hold (c)” rating to a “hold (c+)” rating in a research report on Monday, June 15th. Finally, Jefferies Financial Group lowered shares of LXP Industrial Trust from a “buy” rating to a “hold” rating and reduced their target price for the company from $62.00 to $61.00 in a report on Thursday, August 6th. Two analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $57.40.

LXP Industrial Trust Price Performance

Shares of LXP Industrial Trust stock opened at $60.92 on Friday. The business has a 50 day moving average of $57.80 and a 200 day moving average of $52.56. LXP Industrial Trust has a 52 week low of $43.27 and a 52 week high of $61.61. The company has a quick ratio of 0.10, a current ratio of 0.10 and a debt-to-equity ratio of 0.19. The company has a market cap of $3.59 billion, a PE ratio of 60.92 and a beta of 1.02.

LXP Industrial Trust (NYSE:LXP) last announced its earnings results on Wednesday, July 29th. The real estate investment trust reported $0.84 earnings per share for the quarter, beating analysts’ consensus estimates of $0.83 by $0.01. The firm had revenue of $88.11 million for the quarter, compared to analyst estimates of $85.37 million. LXP Industrial Trust had a net margin of 18.66% and a return on equity of 3.37%. The company’s revenue for the quarter was up .4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.16 EPS. As a group, equities research analysts forecast that LXP Industrial Trust will post 3.34 earnings per share for the current year.

LXP Industrial Trust Dividend Announcement

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

About LXP Industrial Trust

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.