LXP Industrial Trust (NYSE:LXP) Stock Has Consensus Target Price of $57.40 According to Analysts

LXP Industrial Trust (NYSE:LXP) has received an average rating of “Hold” from the nine brokerages that are covering the stock, Marketbeat.com reports. Seven analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $57.40.

A number of research analysts recently weighed in on LXP shares. Citizens Jmp lowered LXP Industrial Trust from a “market outperform” rating to a “hold” rating in a report on Tuesday, July 21st. Weiss Ratings reissued a “hold (c+)” rating on shares of LXP Industrial Trust in a report on Friday, September 11th. Raymond James Financial initiated coverage on shares of LXP Industrial Trust in a research report on Wednesday, June 17th. They set a “market perform” rating on the stock. Jefferies Financial Group cut shares of LXP Industrial Trust from a “buy” rating to a “hold” rating and lowered their price target for the stock from $62.00 to $61.00 in a research note on Thursday, August 6th. Finally, Citigroup reiterated an “outperform” rating on shares of LXP Industrial Trust in a report on Thursday, July 16th.

LXP Industrial Trust Price Performance

Shares of NYSE:LXP opened at $60.90 on Friday. The company has a quick ratio of 0.10, a current ratio of 0.10 and a debt-to-equity ratio of 0.19. The company has a 50-day moving average price of $60.74 and a 200 day moving average price of $54.54. LXP Industrial Trust has a 52 week low of $43.97 and a 52 week high of $61.61. The company has a market cap of $3.59 billion, a P/E ratio of 60.90 and a beta of 1.02.

LXP Industrial Trust (NYSE:LXP) last issued its earnings results on Wednesday, July 29th. The real estate investment trust reported $0.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.83 by $0.01. The business had revenue of $88.11 million during the quarter, compared to the consensus estimate of $85.37 million. LXP Industrial Trust had a return on equity of 3.37% and a net margin of 18.66%.The company’s revenue for the quarter was up .4% on a year-over-year basis. During the same period in the prior year, the business posted $0.16 EPS. Research analysts predict that LXP Industrial Trust will post 3.34 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. IFP Advisors Inc boosted its stake in shares of LXP Industrial Trust by 63.8% during the 4th quarter. IFP Advisors Inc now owns 837 shares of the real estate investment trust’s stock worth $41,000 after acquiring an additional 326 shares in the last quarter. Integrated Wealth Concepts LLC purchased a new position in LXP Industrial Trust in the 2nd quarter valued at approximately $46,000. Allworth Financial LP purchased a new position in LXP Industrial Trust in the 2nd quarter valued at approximately $78,000. Summit Securities Group LLC purchased a new position in LXP Industrial Trust in the 1st quarter valued at approximately $83,000. Finally, State of Wyoming acquired a new position in LXP Industrial Trust during the second quarter worth $221,000. 93.52% of the stock is owned by hedge funds and other institutional investors.

About LXP Industrial Trust

LXP Industrial Trust (NYSE:LXP) is a real estate investment trust that owns and operates industrial properties in the United States. The company focuses primarily on single-tenant warehouse, distribution and manufacturing facilities that are leased to business and industrial tenants.

LXP typically leases its properties under long-term net lease agreements, under which tenants are generally responsible for many property-level operating expenses, including maintenance, insurance and taxes.