Mirae Asset Global Investments Co. Ltd. Sells 1,830 Shares of LXP Industrial Trust $LXP

Mirae Asset Global Investments Co. Ltd. reduced its holdings in LXP Industrial Trust (NYSE:LXP) by 23.0% during the 2nd quarter, Holdings Channel reports. The fund owned 6,125 shares of the real estate investment trust’s stock after selling 1,830 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in LXP Industrial Trust were worth $51,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Signaturefd LLC raised its position in LXP Industrial Trust by 678.3% in the 1st quarter. Signaturefd LLC now owns 6,281 shares of the real estate investment trust’s stock valued at $54,000 after purchasing an additional 5,474 shares during the last quarter. Principal Financial Group Inc. raised its holdings in shares of LXP Industrial Trust by 3.1% in the first quarter. Principal Financial Group Inc. now owns 1,472,285 shares of the real estate investment trust’s stock valued at $12,735,000 after buying an additional 44,233 shares during the last quarter. Allspring Global Investments Holdings LLC raised its holdings in shares of LXP Industrial Trust by 33.1% in the first quarter. Allspring Global Investments Holdings LLC now owns 27,319 shares of the real estate investment trust’s stock valued at $236,000 after buying an additional 6,800 shares during the last quarter. Teacher Retirement System of Texas lifted its position in LXP Industrial Trust by 102.0% during the 1st quarter. Teacher Retirement System of Texas now owns 135,450 shares of the real estate investment trust’s stock worth $1,172,000 after buying an additional 68,399 shares in the last quarter. Finally, Bessemer Group Inc. grew its holdings in LXP Industrial Trust by 3,263.1% during the 1st quarter. Bessemer Group Inc. now owns 20,246 shares of the real estate investment trust’s stock worth $175,000 after acquiring an additional 19,644 shares during the last quarter. 93.52% of the stock is owned by institutional investors and hedge funds.

LXP Industrial Trust Stock Performance

LXP Industrial Trust stock opened at $8.81 on Monday. 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 has a 1 year low of $6.85 and a 1 year high of $9.95. The company has a market cap of $2.61 billion, a PE ratio of 31.46 and a beta of 1.05. The company’s 50-day moving average is $8.86 and its two-hundred day moving average is $8.45.

LXP Industrial Trust (NYSE:LXP) last issued its quarterly earnings results on Wednesday, July 30th. The real estate investment trust reported $0.16 EPS for the quarter, hitting the consensus estimate of $0.16. The company had revenue of $86.74 million during the quarter, compared to analysts’ expectations of $87.25 million. LXP Industrial Trust had a net margin of 24.07% and a return on equity of 4.34%. LXP Industrial Trust’s revenue was up 2.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.16 EPS. LXP Industrial Trust has set its FY 2025 guidance at 0.620-0.640 EPS. Equities analysts anticipate that LXP Industrial Trust will post 0.63 earnings per share for the current year.

LXP Industrial Trust Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Tuesday, September 30th will be given a dividend of $0.135 per share. The ex-dividend date is Tuesday, September 30th. This represents a $0.54 annualized dividend and a dividend yield of 6.1%. LXP Industrial Trust’s payout ratio is presently 192.86%.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the stock. Wolfe Research assumed coverage on shares of LXP Industrial Trust in a research report on Friday, August 22nd. They issued an “outperform” rating and a $10.00 price objective for the company. Evercore ISI increased their price target on shares of LXP Industrial Trust from $10.00 to $11.00 and gave the company an “in-line” rating in a research note on Monday, October 6th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of LXP Industrial Trust in a research report on Wednesday, October 8th. Two research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $10.33.

LXP Industrial Trust Company Profile

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.