Legal & General Group Plc Invests $20.78 Million in LXP Industrial Trust $LXP

Legal & General Group Plc purchased a new stake in shares of LXP Industrial Trust (NYSE:LXP) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 385,721 shares of the real estate investment trust’s stock, valued at approximately $20,783,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. IFP Advisors Inc boosted its stake in 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 valued at $41,000 after purchasing an additional 326 shares during the period. Cetera Investment Advisers increased its position in LXP Industrial Trust by 5.2% in the 1st quarter. Cetera Investment Advisers now owns 14,905 shares of the real estate investment trust’s stock worth $689,000 after buying an additional 743 shares during the period. Pictet Asset Management Holding SA lifted its holdings in shares of LXP Industrial Trust by 11.6% during the first quarter. Pictet Asset Management Holding SA now owns 9,698 shares of the real estate investment trust’s stock worth $449,000 after buying an additional 1,009 shares during the last quarter. Resona Asset Management Co. Ltd. lifted its holdings in shares of LXP Industrial Trust by 4.7% during the first quarter. Resona Asset Management Co. Ltd. now owns 26,174 shares of the real estate investment trust’s stock worth $1,213,000 after buying an additional 1,164 shares during the last quarter. Finally, Caxton Associates LLP boosted its position in shares of LXP Industrial Trust by 18.8% in the first quarter. Caxton Associates LLP now owns 8,711 shares of the real estate investment trust’s stock valued at $403,000 after acquiring an additional 1,381 shares during the period. 93.52% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have issued reports on LXP shares. BMO Capital Markets began coverage on shares of LXP Industrial Trust in a research report on Thursday, July 9th. They issued an “outperform” rating and a $65.00 price target on the stock. Weiss Ratings raised shares of LXP Industrial Trust from a “hold (c)” rating to a “hold (c+)” rating in a research report on Monday, June 15th. Jefferies Financial Group cut shares of LXP Industrial Trust from a “buy” rating to a “hold” rating and reduced their target price for the company from $62.00 to $61.00 in a research note on Thursday, August 6th. Evercore set a $54.00 target price on LXP Industrial Trust in a research report on Monday, June 8th. Finally, KeyCorp reaffirmed a “sector weight” rating on shares of LXP Industrial Trust in a report on Tuesday, June 9th. Two equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $57.40.

LXP Industrial Trust Stock Down 0.6%

NYSE LXP opened at $60.71 on Friday. The stock’s 50 day simple moving average is $58.58 and its 200 day simple moving average is $52.92. LXP Industrial Trust has a one year low of $43.97 and a one year high of $61.61. The firm has a market cap of $3.58 billion, a PE ratio of 60.71 and a beta of 1.02. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.10 and a quick ratio of 0.10.

LXP Industrial Trust (NYSE:LXP) last posted its quarterly earnings data on Wednesday, July 29th. The real estate investment trust reported $0.84 earnings per share for the quarter, beating 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 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 company posted $0.16 EPS. The company’s quarterly revenue was up .4% compared to the same quarter last year. As a group, sell-side analysts forecast that LXP Industrial Trust will post 3.34 earnings per share for the current fiscal year.

LXP Industrial Trust Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th were issued a dividend of $0.70 per share. The ex-dividend date was Tuesday, June 30th. This represents a $2.80 dividend on an annualized basis and a yield of 4.6%. LXP Industrial Trust’s payout ratio is currently 280.00%.

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.