LXP Industrial Trust (NYSE:LXP) Receives $10.63 Consensus PT from Brokerages

Shares of LXP Industrial Trust (NYSE:LXP) have earned an average recommendation of “Moderate Buy” from the seven analysts that are covering the stock, Marketbeat reports. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average 12 month price target among analysts that have covered the stock in the last year is $10.80.

Several research analysts have recently weighed in on the company. Weiss Ratings restated a “hold (c)” rating on shares of LXP Industrial Trust in a research note on Wednesday, October 8th. Citizens Jmp upgraded LXP Industrial Trust from a “market perform” rating to an “outperform” rating and set a $11.50 price objective for the company in a research report on Tuesday. Evercore ISI upped their price objective on LXP Industrial Trust from $10.00 to $11.00 and gave the company an “in-line” rating in a research report on Monday, October 6th. Wolfe Research started coverage on LXP Industrial Trust in a research report on Friday, August 22nd. They set an “outperform” rating and a $10.00 price objective for the company. Finally, Citigroup upgraded LXP Industrial Trust to an “outperform” rating in a research report on Tuesday.

LXP Industrial Trust Stock Up 2.4%

Shares of NYSE:LXP opened at $9.75 on Tuesday. The stock has a fifty day simple moving average of $9.21 and a two-hundred day simple moving average of $8.59. The stock has a market capitalization of $2.88 billion, a price-to-earnings ratio of 34.82 and a beta of 1.05. LXP Industrial Trust has a 12-month low of $6.85 and a 12-month high of $9.95. The company has a current ratio of 0.13, a quick ratio of 0.13 and a debt-to-equity ratio of 0.18.

LXP Industrial Trust shares are scheduled to reverse split on Monday, November 10th. The 1-5 reverse split was announced on Thursday, October 30th. The number of shares owned by shareholders will be adjusted after the closing bell on Friday, November 7th.

LXP Industrial Trust (NYSE:LXP) last posted its quarterly earnings results on Thursday, October 30th. The real estate investment trust reported $0.16 earnings per share for the quarter, hitting 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 firm had revenue of $85.81 million during the quarter, compared to analysts’ expectations of $87.03 million. During the same quarter in the previous year, the business earned $0.16 earnings per share. The company’s revenue was up 1.4% on a year-over-year basis. LXP Industrial Trust has set its FY 2025 guidance at 0.630-0.640 EPS. On average, research analysts anticipate that LXP Industrial Trust will post 0.63 earnings per share for the current fiscal year.

LXP Industrial Trust Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 17th. Investors of record on Friday, January 30th will be given a dividend of $0.8125 per share. This represents a $3.25 dividend on an annualized basis and a yield of 33.3%. This is a boost from LXP Industrial Trust’s previous quarterly dividend of $0.14. The ex-dividend date is Friday, January 30th. LXP Industrial Trust’s dividend payout ratio (DPR) is currently 192.86%.

Institutional Trading of LXP Industrial Trust

Hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. boosted its stake in shares of LXP Industrial Trust by 0.5% in 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 during the period. Lasalle Investment Management Securities LLC boosted its stake in shares of LXP Industrial Trust by 44.4% in the second quarter. Lasalle Investment Management Securities LLC now owns 9,177,887 shares of the real estate investment trust’s stock worth $75,809,000 after acquiring an additional 2,822,835 shares during the period. Norges Bank bought a new position in shares of LXP Industrial Trust in the second quarter worth about $58,163,000. Balyasny Asset Management L.P. boosted its stake in shares of LXP Industrial Trust by 269.0% in the second quarter. Balyasny Asset Management L.P. now owns 6,432,356 shares of the real estate investment trust’s stock worth $53,131,000 after acquiring an additional 4,688,972 shares during the period. Finally, Sumitomo Mitsui Trust Group Inc. boosted its stake in shares of LXP Industrial Trust by 6.2% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 5,797,118 shares of the real estate investment trust’s stock worth $51,942,000 after acquiring an additional 340,733 shares during the period. 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.