LXP Industrial Trust’s (LXP) “Market Perform” Rating Reiterated at JMP Securities

JMP Securities reaffirmed their market perform rating on shares of LXP Industrial Trust (NYSE:LXP) in a report released on Monday morning,Benzinga reports.

Separately, KeyCorp decreased their price objective on shares of LXP Industrial Trust from $11.00 to $10.00 and set an “overweight” rating for the company in a report on Friday, May 2nd. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, LXP Industrial Trust currently has an average rating of “Moderate Buy” and an average target price of $11.00.

LXP Industrial Trust Trading Up 0.1 %

Shares of LXP opened at $7.98 on Monday. The stock has a market cap of $2.36 billion, a PE ratio of 61.39 and a beta of 1.02. LXP Industrial Trust has a 12 month low of $6.85 and a 12 month high of $10.57. The stock’s 50-day moving average is $8.32 and its two-hundred day moving average is $8.62. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.16 and a quick ratio of 0.16.

LXP Industrial Trust (NYSE:LXP) last posted its quarterly earnings results on Thursday, May 1st. The real estate investment trust reported $0.16 EPS for the quarter, hitting analysts’ consensus estimates of $0.16. The business had revenue of $87.89 million during the quarter, compared to the consensus estimate of $84.72 million. LXP Industrial Trust had a return on equity of 2.15% and a net margin of 12.40%. The company’s revenue for the quarter was up 3.0% compared to the same quarter last year. During the same period last year, the firm earned $0.16 earnings per share. Equities analysts forecast that LXP Industrial Trust will post 0.63 earnings per share for the current fiscal year.

LXP Industrial Trust Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 31st were paid a $0.135 dividend. The ex-dividend date of this dividend was Monday, March 31st. This represents a $0.54 annualized dividend and a dividend yield of 6.77%. LXP Industrial Trust’s payout ratio is 270.00%.

Hedge Funds Weigh In On LXP Industrial Trust

A number of hedge funds have recently added to or reduced their stakes in the company. Norges Bank acquired a new position in shares of LXP Industrial Trust during the 4th quarter worth $40,114,000. Aew Capital Management L P increased its position in LXP Industrial Trust by 72.5% during the fourth quarter. Aew Capital Management L P now owns 5,815,781 shares of the real estate investment trust’s stock worth $47,224,000 after buying an additional 2,445,084 shares during the last quarter. Balyasny Asset Management L.P. raised its holdings in LXP Industrial Trust by 514.9% during the fourth quarter. Balyasny Asset Management L.P. now owns 2,165,475 shares of the real estate investment trust’s stock valued at $17,584,000 after buying an additional 1,813,280 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. boosted its stake in shares of LXP Industrial Trust by 55.9% during the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 4,836,743 shares of the real estate investment trust’s stock worth $41,838,000 after acquiring an additional 1,733,329 shares in the last quarter. Finally, Sophron Capital Management L.P. acquired a new position in shares of LXP Industrial Trust during the 4th quarter valued at about $10,874,000. Institutional investors and hedge funds own 93.52% of the company’s stock.

LXP Industrial Trust Company Profile

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.