LXP Industrial Trust (NYSE:LXP) Announces Earnings Results

LXP Industrial Trust (NYSE:LXP) posted its quarterly earnings results on Wednesday. The real estate investment trust reported $0.84 EPS for the quarter, beating the consensus estimate of $0.83 by $0.01, Zacks reports. LXP Industrial Trust had a return on equity of 4.80% and a net margin of 27.05%.The firm had revenue of $88.11 million during the quarter, compared to analysts’ expectations of $85.37 million. During the same quarter last year, the firm earned $0.16 earnings per share. The business’s revenue for the quarter was up .4% on a year-over-year basis.

LXP Industrial Trust Trading Down 0.0%

NYSE LXP traded down $0.03 during trading hours on Wednesday, reaching $60.83. The company had a trading volume of 189,036 shares, compared to its average volume of 584,513. The stock has a 50-day moving average of $54.68 and a 200 day moving average of $51.22. LXP Industrial Trust has a 1-year low of $38.20 and a 1-year high of $61.61. The company has a current ratio of 0.21, a quick ratio of 0.21 and a debt-to-equity ratio of 0.18. The stock has a market capitalization of $3.59 billion, a P/E ratio of 41.10 and a beta of 1.04.

LXP Industrial Trust Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th were issued a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 4.6%. The ex-dividend date was Tuesday, June 30th. LXP Industrial Trust’s payout ratio is 189.19%.

Institutional Investors Weigh In On LXP Industrial Trust

A number of institutional investors have recently made changes to their positions in LXP. Caitong International Asset Management Co. Ltd purchased a new stake in shares of LXP Industrial Trust in the 3rd quarter valued at approximately $26,000. EverSource Wealth Advisors LLC boosted its position in shares of LXP Industrial Trust by 101.7% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 3,481 shares of the real estate investment trust’s stock worth $29,000 after purchasing an additional 1,755 shares during the period. Geneos Wealth Management Inc. increased its holdings in LXP Industrial Trust by 82.0% in the 2nd quarter. Geneos Wealth Management Inc. now owns 3,623 shares of the real estate investment trust’s stock valued at $30,000 after purchasing an additional 1,632 shares during the last quarter. Kestra Advisory Services LLC acquired a new stake in LXP Industrial Trust in the 4th quarter valued at approximately $197,000. Finally, Abel Hall LLC acquired a new stake in LXP Industrial Trust in the 4th quarter valued at approximately $307,000. 93.52% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have recently weighed in on LXP. Citigroup reissued an “outperform” rating on shares of LXP Industrial Trust in a research report on Thursday, July 16th. BMO Capital Markets started coverage on shares of LXP Industrial Trust in a research note on Thursday, July 9th. They set an “outperform” rating and a $65.00 target price on the stock. KeyCorp reiterated a “sector weight” rating on shares of LXP Industrial Trust in a report on Tuesday, June 9th. Evercore set a $54.00 price target on shares of LXP Industrial Trust in a research note on Monday, June 8th. Finally, Citizens Jmp cut shares of LXP Industrial Trust from a “market outperform” rating to a “hold” rating in a research note on Tuesday, July 21st. Three research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $55.20.

About LXP Industrial Trust

LXP Industrial Trust is a real estate investment trust that specializes in the ownership, acquisition and management of industrial properties across North America. The company’s portfolio consists of warehouses, distribution centers and manufacturing facilities designed to support supply-chain and logistics operations. By focusing on long-term leasing arrangements, LXP Industrial Trust aims to provide stable income streams while delivering value to tenants through modern, well-positioned industrial space.

The firm’s primary business activities include sourcing and under-writing new property investments, overseeing development and redevelopment projects, and implementing asset-management strategies to enhance the performance of its holdings.