UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in LXP Industrial Trust (NYSE:LXP – Free Report) by 36,383.3% during the 2nd quarter, Holdings Channel reports. The fund owned 434,516 shares of the real estate investment trust’s stock after acquiring an additional 433,325 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in LXP Industrial Trust were worth $23,412,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Heartland Advisors Inc. purchased a new stake in shares of LXP Industrial Trust during the first quarter worth about $10,705,000. OVERSEA CHINESE BANKING Corp Ltd purchased a new position in shares of LXP Industrial Trust during the 2nd quarter worth $940,000. William Blair Investment Management LLC acquired a new stake in shares of LXP Industrial Trust during the second quarter worth $26,535,000. Principal Financial Group Inc. grew its position in shares of LXP Industrial Trust by 31.1% in the first quarter. Principal Financial Group Inc. now owns 369,658 shares of the real estate investment trust’s stock valued at $17,100,000 after purchasing an additional 87,741 shares during the period. Finally, Quantinno Capital Management LP lifted its position in LXP Industrial Trust by 128.1% during the first quarter. Quantinno Capital Management LP now owns 41,933 shares of the real estate investment trust’s stock worth $1,940,000 after buying an additional 23,550 shares during the period. 93.52% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
LXP has been the subject of several research analyst reports. Raymond James Financial assumed coverage on shares of LXP Industrial Trust in a research report on Wednesday, June 17th. They set a “market perform” rating for the company. BMO Capital Markets started coverage on LXP Industrial Trust in a research note on Thursday, July 9th. They set an “outperform” rating and a $65.00 price target for the company. Citizens Jmp lowered LXP Industrial Trust from a “market outperform” rating to a “hold” rating in a research note on Tuesday, July 21st. Evercore set a $54.00 price target on shares of LXP Industrial Trust in a report on Monday, June 8th. Finally, KeyCorp reaffirmed a “sector weight” rating on shares of LXP Industrial Trust in a research report on Tuesday, June 9th. Two research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to MarketBeat.com, LXP Industrial Trust currently has an average rating of “Hold” and an average target price of $57.40.
LXP Industrial Trust Stock Performance
LXP Industrial Trust stock opened at $60.80 on Friday. LXP Industrial Trust has a 52 week low of $43.97 and a 52 week high of $61.61. The company has a current ratio of 0.10, a quick ratio of 0.10 and a debt-to-equity ratio of 0.19. The stock has a market cap of $3.58 billion, a P/E ratio of 60.80 and a beta of 1.02. The stock has a 50 day moving average of $59.22 and a 200-day moving average of $53.30.
LXP Industrial Trust (NYSE:LXP – Get Free Report) last issued its quarterly 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 analyst estimates of $85.37 million. LXP Industrial Trust had a net margin of 18.66% and a return on equity of 3.37%. The business’s revenue was up .4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.16 earnings per share. On average, analysts expect that LXP Industrial Trust will post 3.35 EPS for the current fiscal year.
LXP Industrial Trust Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th were paid a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 4.6%. The ex-dividend date was Tuesday, June 30th. LXP Industrial Trust’s dividend payout ratio is 280.00%.
LXP Industrial Trust Company Profile
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.
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