Wall Street analysts predict that LXP Industrial Trust (NYSE:LXP – Get a rating) will announce revenue of $81.29 million for the current fiscal quarter, Zacks reports. Three analysts have made earnings estimates for LXP Industrial Trust, with the lowest estimate of sales at $78.80 million and the highest estimate at $84.37 million. LXP Industrial Trust reported sales of $92.56 million in the same quarter last year, suggesting a negative 12.2% year-over-year growth rate. The company is expected to announce its next results on Monday, January 1.
According to Zacks, analysts expect LXP Industrial Trust to report annual revenue of $332.06 million for the current fiscal year, with estimates ranging from $327.40 to $336.27 million. . For the next fiscal year, analysts expect the company to post sales of $386.26 million, with estimates ranging from $376.11 million to $396.40 million. Zacks Investment Research sales averages are an average average based on a survey of research companies that track LXP Industrial Trust.
LXP has been the subject of a number of recent analyst reports. Bank of America launched coverage on LXP Industrial Trust in a research note on Monday, April 18. They issued an “underperforming” rating and a target price of $14.00 for the stock. Zacks Investment Research upgraded LXP Industrial Trust from a “sell” rating to a “hold” rating in a Friday, March 11 research note. To finish, StockNews.com began covering LXP Industrial Trust in a research note on Thursday, March 31. They have placed a “holding” rating on the stock. One research analyst rated the stock with a sell rating, three gave the company a hold rating and two gave the company a buy rating. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $15.40.
LXP Stock opened at $13.23 on Tuesday. The company has a quick ratio of 0.22, a current ratio of 0.22 and a leverage ratio of 0.19. The company’s fifty-day simple moving average is $14.97 and its two-hundred-day simple moving average is $14.90. LXP Industrial Trust has a 12-month low of $11.81 and a 12-month high of $16.10. The company has a market capitalization of $3.81 billion, a price-earnings ratio of 10.02, a PEG ratio of 9.14 and a beta of 0.63.
The company also recently announced a quarterly dividend, which was paid on Monday, April 18. Shareholders of record on Thursday, March 31 received a dividend of $0.12. The ex-dividend date was Wednesday, March 30. This represents an annualized dividend of $0.48 and a yield of 3.63%. LXP Industrial Trust’s dividend payout ratio (DPR) is currently 36.36%.
A number of institutional investors and hedge funds have recently bought and sold shares of the company. State Street Corp increased its stake in LXP Industrial Trust by 6.9% in the fourth quarter. State Street Corp now owns 15,309,839 shares of the real estate investment trust worth $240,960,000 after buying an additional 991,811 shares in the last quarter. Land & Buildings Investment Management LLC increased its stake in LXP Industrial Trust by 266.7% in the third quarter. Land & Buildings Investment Management LLC now owns 6,778,400 shares of the real estate investment trust worth $86,425,000 after purchasing an additional 4,929,830 shares in the last quarter. Geode Capital Management LLC increased its stake in LXP Industrial Trust by 8.3% in the fourth quarter. Geode Capital Management LLC now owns 5,662,970 shares of the real estate investment trust worth $88,455,000 after purchasing an additional 431,792 shares in the last quarter. Long Pond Capital LP bought a new position in LXP Industrial Trust in the third quarter valued at approximately $68,466,000. Finally, Charles Schwab Investment Management Inc. increased its stake in LXP Industrial Trust by 2.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,859,542 shares of the real estate investment trust worth $60,286,000 after purchasing an additional 93,869 shares in the last quarter. Institutional investors hold 99.83% of the company’s shares.
About LXP Industrial Trust (Get a rating)
Lexington Realty Trust (NYSE: LXP) is a publicly traded real estate investment trust (REIT) that holds a portfolio of real estate assets consisting primarily of equity investments in single-tenant net leased industrial properties in the United States. Lexington seeks to expand its industrial portfolio through custom build transactions, sale-leaseback transactions and other transactions, including acquisitions.
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