LXP Industrial Trust (NYSE:LXP) downgraded by Zacks Investment Research to “Sell”


LXP Industrial Trust (NYSE: LXP – Get Appraisal) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report released Tuesday, Zacks.com reports.

According to Zacks, “LXP Industrial Trust is a real estate investment trust. He focused on single-tenant industrial real estate investments. The Company’s industrial portfolio includes acquisitions, development projects, and custom build and leaseback transactions. LXP Industrial Trust, formerly known as Lexington Realty Trust, is based in NEW YORK. “

LXP has been the subject of a number of other research reports. StockNews.com downgraded shares of LXP Industrial Trust from a “held” rating to a “sell” rating in a Tuesday, May 24 research report. TheStreet downgraded shares of LXP Industrial Trust from a ‘b’ rating to a ‘c+’ rating in a Thursday, May 5 research report. Finally, Bank of America began covering LXP Industrial Trust shares in a research report on Monday, April 18. They issued an “underperforming” rating and a price target of $14.00 for the company. Three equity research analysts rated the stock with a sell rating, one assigned a hold rating and two assigned the company a buy rating. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $15.40.

NYSE:LXP opened at $11.69 on Tuesday. LXP Industrial Trust has a one-year low of $10.84 and a one-year high of $16.10. The company has a debt ratio of 0.19, a quick ratio of 0.10 and a current ratio of 0.10. The company has a market capitalization of $3.37 billion, a price-earnings ratio of 9.66, a PEG ratio of 8.49 and a beta of 0.74. The company’s fifty-day moving average is $13.15 and its two-hundred-day moving average is $14.41.

LXP Industrial Trust (NYSE:LXP – Get Rating) last released its quarterly earnings data on Thursday, May 5. The real estate investment trust reported earnings per share of $0.03 for the quarter, beating analysts’ consensus estimate of $0.01 by $0.02. The company posted revenue of $80.30 million in the quarter, versus a consensus estimate of $80.69 million. LXP Industrial Trust achieved a net margin of 106.18% and a return on equity of 16.80%. The company’s revenue decreased by 13.3% compared to the same quarter last year. In the same quarter a year earlier, the company posted earnings per share of $0.22. As a group, equity research analysts expect LXP Industrial Trust to post earnings per share of 0.62 for the current fiscal year.

Separately, director Lawrence L. Gray purchased 2,235 shares of the company in a transaction dated Wednesday, May 11. The shares were acquired at an average price of $11.26 per share, with a total value of $25,166.10. As a result of the purchase, the administrator now directly owns 71,844 shares of the company, valued at approximately $808,963.44. The acquisition was disclosed in an SEC filing, which is available at this link. Additionally, director Lawrence L. Gray purchased 4,370 shares of the company in a transaction dated Monday, May 9. The shares were purchased at an average cost of $11.50 per share, with a total value of $50,255.00. Following the purchase, the director now owns 69,609 shares of the company, valued at $800,503.50. Disclosure of this purchase can be found here. In the past ninety days, insiders have purchased 18,865 shares of the company worth $210,075. 2.06% of the shares are held by insiders.

Several large investors have recently bought and sold shares of the stock. Neuberger Berman Group LLC increased its position in LXP Industrial Trust shares by 1.6% in the first quarter. Neuberger Berman Group LLC now owns 609,191 shares of the real estate investment trust worth $9,564,000 after purchasing an additional 9,480 shares during the period. Weiss Multi Strategy Advisers LLC bought a new stock position in LXP Industrial Trust during Q1 worth approximately $399,000. Virtu Financial LLC purchased a new stock position in LXP Industrial Trust during Q1 for a value of approximately $368,000. Meiji Yasuda Asset Management Co Ltd. bought a new stock position in LXP Industrial Trust during Q1 worth approximately $770,000. Finally, Sagefield Capital LP bought a new stock position in LXP Industrial Trust during Q1 worth approximately $1,063,000. 98.07% of the shares are held by hedge funds and other institutional investors.

Company Profile 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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