LXP Industrial Trust (NYSE:LXP) Cut to “Sell” at StockNews.com

StockNews.com lowered shares of LXP Industrial Trust (NYSE:LXP) from a hold rating to a sell rating in a research report report published on Friday morning.

LXP Industrial Trust Price Performance

Shares of NYSE LXP opened at $8.68 on Friday. The stock has a 50 day moving average of $8.82 and a two-hundred day moving average of $8.93. The stock has a market cap of $2.55 billion, a P/E ratio of 217.05 and a beta of 0.82. LXP Industrial Trust has a twelve month low of $7.75 and a twelve month high of $10.75. The company has a current ratio of 0.27, a quick ratio of 0.27 and a debt-to-equity ratio of 0.20.

LXP Industrial Trust (NYSE:LXP) last issued its quarterly earnings results on Thursday, February 15th. The real estate investment trust reported $0.04 earnings per share for the quarter, missing the consensus estimate of $0.17 by ($0.13). LXP Industrial Trust had a net margin of 5.52% and a return on equity of 0.86%. The business had revenue of $83.00 million during the quarter, compared to analyst estimates of $83.74 million. During the same quarter last year, the firm posted $0.17 earnings per share. The company’s revenue was up 2.3% on a year-over-year basis. On average, research analysts forecast that LXP Industrial Trust will post 0.64 earnings per share for the current year.

LXP Industrial Trust Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Thursday, March 28th were given a dividend of $0.13 per share. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $0.52 dividend on an annualized basis and a yield of 5.99%. LXP Industrial Trust’s dividend payout ratio (DPR) is 1,300.33%.

Hedge Funds Weigh In On LXP Industrial Trust

A number of hedge funds have recently made changes to their positions in the business. Dakota Wealth Management raised its stake in shares of LXP Industrial Trust by 6.3% during the third quarter. Dakota Wealth Management now owns 23,614 shares of the real estate investment trust’s stock valued at $210,000 after purchasing an additional 1,404 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its position in LXP Industrial Trust by 5.6% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 120,263 shares of the real estate investment trust’s stock worth $1,070,000 after purchasing an additional 6,373 shares during the last quarter. Inspire Investing LLC grew its holdings in LXP Industrial Trust by 5.3% in the 3rd quarter. Inspire Investing LLC now owns 34,403 shares of the real estate investment trust’s stock worth $306,000 after buying an additional 1,718 shares in the last quarter. First Trust Direct Indexing L.P. acquired a new position in shares of LXP Industrial Trust during the third quarter valued at $90,000. Finally, AlphaMark Advisors LLC acquired a new position in LXP Industrial Trust during the 3rd quarter valued at about $230,000. Hedge funds and other institutional investors own 93.52% of the company’s stock.

About LXP Industrial Trust

LXP Industrial Trust (NYSE: LXP) is a publicly traded real estate investment trust (REIT) focused on single-tenant industrial real estate investments across the United States. LXP seeks to expand its industrial portfolio through acquisitions, build-to-suit transactions, sale-leaseback transactions, development projects and other transactions.