LXP Industrial Trust Stock Scheduled to Reverse Split on Monday, November 10th (NYSE:LXP)

LXP Industrial Trust (NYSE:LXP) shares are going to reverse split on Monday, November 10th. The 1-5 reverse split was announced on Thursday, October 30th. The number of shares owned by shareholders will be adjusted after the closing bell on Friday, November 7th.

LXP Industrial Trust Trading Down 2.2%

Shares of LXP Industrial Trust stock opened at $9.53 on Friday. The stock has a fifty day simple moving average of $9.22 and a 200 day simple moving average of $8.61. LXP Industrial Trust has a 12-month low of $6.85 and a 12-month high of $9.95. The company has a market capitalization of $2.82 billion, a P/E ratio of 34.02 and a beta of 1.05. 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 (NYSE:LXP) last announced its quarterly earnings results on Thursday, October 30th. The real estate investment trust reported $0.16 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.16. LXP Industrial Trust had a return on equity of 4.34% and a net margin of 24.07%.The business had revenue of $85.81 million during the quarter, compared to the consensus estimate of $87.03 million. During the same quarter in the prior year, the company posted $0.16 earnings per share. LXP Industrial Trust’s revenue was up 1.4% compared to the same quarter last year. LXP Industrial Trust has set its FY 2025 guidance at 0.630-0.640 EPS. On average, sell-side analysts anticipate that LXP Industrial Trust will post 0.63 earnings per share for the current fiscal year.

LXP Industrial Trust Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, February 17th. Investors of record on Friday, January 30th will be issued a dividend of $0.8125 per share. This represents a $3.25 annualized dividend and a yield of 34.1%. This is an increase from LXP Industrial Trust’s previous quarterly dividend of $0.14. The ex-dividend date is Friday, January 30th. LXP Industrial Trust’s dividend payout ratio is currently 192.86%.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on LXP shares. Wolfe Research started coverage on LXP Industrial Trust in a report on Friday, August 22nd. They set an “outperform” rating and a $10.00 price target for the company. Evercore ISI upped their price target on LXP Industrial Trust from $10.00 to $11.00 and gave the stock an “in-line” rating in a report on Monday, October 6th. Citizens Jmp upgraded LXP Industrial Trust from a “market perform” rating to an “outperform” rating and set a $11.50 price target for the company in a report on Tuesday, October 28th. Citigroup upgraded LXP Industrial Trust to an “outperform” rating in a report on Tuesday. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of LXP Industrial Trust in a research report on Wednesday, October 8th. Five investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $10.80.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Thurston Springer Miller Herd & Titak Inc. boosted its position in LXP Industrial Trust by 3,809.5% in the second quarter. Thurston Springer Miller Herd & Titak Inc. now owns 3,284 shares of the real estate investment trust’s stock worth $27,000 after purchasing an additional 3,200 shares during the last quarter. EverSource Wealth Advisors LLC grew its stake 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 acquiring an additional 1,755 shares during the period. Geneos Wealth Management Inc. grew its stake in shares of LXP Industrial Trust by 82.0% during the 2nd quarter. Geneos Wealth Management Inc. now owns 3,623 shares of the real estate investment trust’s stock worth $30,000 after acquiring an additional 1,632 shares during the period. GAMMA Investing LLC grew its stake in shares of LXP Industrial Trust by 50.4% during the 2nd quarter. GAMMA Investing LLC now owns 3,866 shares of the real estate investment trust’s stock worth $32,000 after acquiring an additional 1,296 shares during the period. Finally, Headlands Technologies LLC bought a new position in shares of LXP Industrial Trust during the 1st quarter worth $46,000. Hedge funds and other institutional investors own 93.52% of the company’s stock.

About LXP Industrial Trust

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.