LXP Industrial Trust $LXP Stake Lessened by Meritage Portfolio Management

Meritage Portfolio Management trimmed its position in shares of LXP Industrial Trust (NYSE:LXP) by 2.6% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 375,692 shares of the real estate investment trust’s stock after selling 9,997 shares during the period. Meritage Portfolio Management owned about 0.13% of LXP Industrial Trust worth $3,103,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Vanguard Group Inc. raised its holdings in shares of LXP Industrial Trust by 0.5% during the first quarter. Vanguard Group Inc. now owns 46,064,359 shares of the real estate investment trust’s stock worth $398,457,000 after acquiring an additional 214,696 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of LXP Industrial Trust by 7.6% during the first quarter. Charles Schwab Investment Management Inc. now owns 5,738,916 shares of the real estate investment trust’s stock worth $49,642,000 after acquiring an additional 407,059 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. raised its holdings in shares of LXP Industrial Trust by 55.9% during the first 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. Centersquare Investment Management LLC raised its holdings in shares of LXP Industrial Trust by 1,103.9% during the first quarter. Centersquare Investment Management LLC now owns 4,271,470 shares of the real estate investment trust’s stock worth $36,948,000 after acquiring an additional 3,916,670 shares in the last quarter. Finally, Northern Trust Corp raised its holdings in shares of LXP Industrial Trust by 0.3% during the first quarter. Northern Trust Corp now owns 4,215,880 shares of the real estate investment trust’s stock worth $36,467,000 after acquiring an additional 14,456 shares in the last quarter. 93.52% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages recently issued reports on LXP. Weiss Ratings reiterated a “hold (c)” rating on shares of LXP Industrial Trust in a report on Wednesday, October 8th. Wolfe Research began coverage on LXP Industrial Trust in a report on Friday, August 22nd. They set an “outperform” rating and a $10.00 price objective for the company. Finally, Evercore ISI increased their price objective on LXP Industrial Trust from $10.00 to $11.00 and gave the stock an “in-line” rating in a report on Monday, October 6th. Two equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $10.33.

LXP Industrial Trust Price Performance

NYSE LXP opened at $8.81 on Monday. LXP Industrial Trust has a fifty-two week low of $6.85 and a fifty-two week high of $9.95. The stock’s 50-day moving average is $8.86 and its two-hundred day moving average is $8.45. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.13 and a quick ratio of 0.13. The firm has a market cap of $2.61 billion, a P/E ratio of 31.46 and a beta of 1.05.

LXP Industrial Trust (NYSE:LXP) last posted its earnings results on Wednesday, July 30th. The real estate investment trust reported $0.16 earnings per share for the quarter, meeting the consensus estimate of $0.16. LXP Industrial Trust had a return on equity of 4.34% and a net margin of 24.07%.The company had revenue of $86.74 million for the quarter, compared to analyst estimates of $87.25 million. During the same period last year, the company earned $0.16 earnings per share. The business’s revenue was up 2.2% compared to the same quarter last year. LXP Industrial Trust has set its FY 2025 guidance at 0.620-0.640 EPS. On average, analysts anticipate that LXP Industrial Trust will post 0.63 earnings per share for the current fiscal year.

LXP Industrial Trust Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Tuesday, September 30th will be given a $0.135 dividend. This represents a $0.54 annualized dividend and a dividend yield of 6.1%. The ex-dividend date of this dividend is Tuesday, September 30th. LXP Industrial Trust’s dividend payout ratio (DPR) is currently 192.86%.

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.