Victory Capital Management Inc. increased its stake in shares of LXP Industrial Trust (NYSE:LXP – Get a rating) by 0.3% in Q1, according to the company in its latest 13F filing with the Securities and Exchange Commission. The fund held 2,488,500 shares of the real estate investment trust after purchasing an additional 8,147 shares during the period. Victory Capital Management Inc.’s holdings in LXP Industrial Trust were worth $38,409,000 at the end of the last quarter.
Several other hedge funds and other institutional investors have also recently changed their positions in the company. Envestnet Asset Management Inc. increased its stake in shares of LXP Industrial Trust by 4.5% during the 1st quarter. Envestnet Asset Management Inc. now owns 100,458 shares of the real estate investment trust worth $1,577,000 after buying an additional 4,280 shares in the last quarter. abrdn plc increased its position in shares of LXP Industrial Trust by 2.1% in the 1st quarter. abrdn plc now owns 62,012 shares of the real estate investment trust valued at $979,000 after acquiring an additional 1,264 shares during the period. Arizona State Retirement System increased its position in LXP Industrial Trust shares by 2.3% in the first quarter. Arizona State Retirement System now owns 76,450 shares of the real estate investment trust worth $1,200,000 after acquiring 1,716 additional shares during the period. Mutual of America Capital Management LLC increased its position in LXP Industrial Trust shares by 11.2% in the first quarter. Mutual of America Capital Management LLC now owns 395,316 shares of the real estate investment trust valued at $6,206,000 after acquiring an additional 39,951 shares during the period. Finally, SG Americas Securities LLC increased its position in LXP Industrial Trust shares by 32.6% in the 1st quarter. SG Americas Securities LLC now owns 223,482 shares of the real estate investment trust valued at $3,509,000 after acquiring an additional 54,980 shares during the period. Hedge funds and other institutional investors own 98.07% of the company’s shares.
Analysts set new price targets
Several research companies have recently published reports on LXP. StockNews.com upgraded LXP Industrial Trust from a “sell” to a “hold” rating in a Monday, July 18 research report. Jefferies Financial Group cut its price target on LXP Industrial Trust from $15.50 to $14.00 and set a “buy” rating on the stock in a Thursday, June 30 research report. Bank of America began covering LXP Industrial Trust in a research report on Monday, April 18. They issued an “underperforming” rating and a target price of $14.00 for the stock. Evercore ISI set a price target of $13.00 on LXP Industrial Trust in a research report on Monday, June 20. Finally, TheStreet downgraded LXP Industrial Trust from a “b” rating to a “c+” rating in a Thursday, May 5 research report. One research analyst rated the stock with a sell rating, two gave the company’s stock a hold rating and three gave the company’s stock a buy rating. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $14.80.
In other news from LXP Industrial Trust, Director Arun Gupta purchased 9,100 shares of the company in a trade dated Friday, June 10. The shares were purchased at an average cost of $10.88 per share, for a total transaction of $99,008.00. Following the transaction, the administrator now directly owns 16,865 shares of the company, valued at $183,491.20. The purchase was disclosed in an SEC filing, available at this hyperlink. In related news, director Richard Frary bought 10,000 shares of the company in a transaction that took place on Monday, June 13. The shares were purchased at an average cost of $10.50 per share, with a total value of $105,000.00. Following the purchase, the director now owns 143,606 shares of the company, valued at approximately $1,507,863. The acquisition was disclosed in a filing with the Securities & Exchange Commission, accessible via this link. Additionally, director Arun Gupta purchased 9,100 shares of the company in a transaction that took place on Friday, June 10. The stock was purchased at an average price of $10.88 per share, for a total transaction of $99,008.00. Following the completion of the purchase, the administrator now directly owns 16,865 shares of the company, valued at approximately $183,491.20. Disclosure of this purchase can be found here. Insiders acquired 37,965 shares of the company worth $414,083 over the past ninety days. Insiders of the company own 2.06% of the shares of the company.
LXP Industrial Trust Price Performance
Shares of LXP opened at $10.83 on Tuesday. The company’s 50-day moving average is $10.81 and its two-hundred-day moving average is $13.02. The company has a market capitalization of $3.12 billion, a P/E ratio of 8.95, a P/E/G ratio of 9.61 and a beta of 0.72. The company has a debt ratio of 0.19, a quick ratio of 0.10 and a current ratio of 0.10. LXP Industrial Trust has a fifty-two week low of $9.98 and a fifty-two week high of $16.10.
LXP Industrial Trust (NYSE:LXP – Get a rating) last reported results on Thursday, May 5. The real estate investment trust reported EPS of $0.03 for the quarter, beating consensus analyst estimates of $0.01 by $0.02. LXP Industrial Trust had a return on equity of 16.80% and a net margin of 106.18%. The company posted revenue of $80.30 million for the quarter, compared to $80.69 million expected by analysts. During the same period last year, the company achieved EPS of $0.22. The company’s quarterly revenue was down 13.3% year over year. Research analysts predict that LXP Industrial Trust will post earnings per share of 0.66 for the current year.
LXP Industrial Trust Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Friday, July 15. Shareholders of record on Thursday, June 30 received a dividend of $0.12 per share. This represents a dividend of $0.48 on an annualized basis and a dividend yield of 4.43%. The ex-dividend date was Wednesday, June 29. LXP Industrial Trust’s dividend payout ratio (DPR) is currently 39.67%.
About LXP Industrial Trust
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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