LXP Industrial Trust (NYSE:LXP) Sees Strong Trading Volume – Should You Buy?

LXP Industrial Trust (NYSE:LXP) shares saw unusually-strong trading volume on Wednesday . 1,136,478 shares were traded during trading, an increase of 87% from the previous session’s volume of 606,408 shares.The stock last traded at $60.7350 and had previously closed at $60.77.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on LXP shares. Evercore set a $54.00 target price on shares of LXP Industrial Trust in a research note on Monday, June 8th. Raymond James Financial initiated coverage on shares of LXP Industrial Trust in a research note on Wednesday, June 17th. They issued a “market perform” rating on the stock. Citizens Jmp lowered LXP Industrial Trust from a “market outperform” rating to a “hold” rating in a report on Tuesday, July 21st. Wall Street Zen cut LXP Industrial Trust from a “hold” rating to a “sell” rating in a research report on Sunday, July 12th. Finally, Jefferies Financial Group downgraded LXP Industrial Trust from a “buy” rating to a “hold” rating and lowered their target price for the company from $62.00 to $61.00 in a research note on Thursday, August 6th. Two equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $57.40.

LXP Industrial Trust Price Performance

The company has a debt-to-equity ratio of 0.19, a current ratio of 0.10 and a quick ratio of 0.10. The stock has a market capitalization of $3.59 billion, a price-to-earnings ratio of 60.85 and a beta of 1.02. The stock’s 50 day simple moving average is $59.70 and its 200-day simple moving average is $53.70.

LXP Industrial Trust (NYSE:LXP) last announced its quarterly earnings results on Wednesday, July 29th. The real estate investment trust reported $0.84 EPS for the quarter, topping the consensus estimate of $0.83 by $0.01. LXP Industrial Trust had a net margin of 18.66% and a return on equity of 3.37%. The company had revenue of $88.11 million for the quarter, compared to analyst estimates of $85.37 million. During the same quarter in the prior year, the business posted $0.16 EPS. LXP Industrial Trust’s quarterly revenue was up .4% on a year-over-year basis. On average, analysts expect that LXP Industrial Trust will post 3.35 EPS for the current fiscal year.

LXP Industrial Trust Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th were given a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 4.6%. The ex-dividend date of this dividend was Tuesday, June 30th. LXP Industrial Trust’s dividend payout ratio is presently 280.00%.

Institutional Trading of LXP Industrial Trust

Institutional investors and hedge funds have recently made changes to their positions in the stock. Sequoia Financial Advisors LLC boosted its stake in shares of LXP Industrial Trust by 4.4% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 5,344 shares of the real estate investment trust’s stock worth $288,000 after acquiring an additional 224 shares in the last quarter. Engineers Gate Manager LP increased its holdings in shares of LXP Industrial Trust by 395.2% during the 2nd quarter. Engineers Gate Manager LP now owns 27,732 shares of the real estate investment trust’s stock valued at $1,494,000 after acquiring an additional 22,132 shares during the last quarter. Integrated Wealth Concepts LLC bought a new position in shares of LXP Industrial Trust in the 2nd quarter valued at approximately $46,000. Squarepoint Ops LLC bought a new position in shares of LXP Industrial Trust in the 2nd quarter valued at approximately $259,000. Finally, Corient Private Wealth LP bought a new position in shares of LXP Industrial Trust in the 2nd quarter valued at approximately $549,000. Institutional investors and hedge funds own 93.52% of the company’s stock.

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.