Cornercap Investment Counsel Inc. Buys Shares of 40,568 LXP Industrial Trust (NYSE:LXP)

Cornercap Investment Counsel Inc. bought a new stake in LXP Industrial Trust (NYSE:LXP) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 40,568 shares of the real estate investment trust’s stock, valued at approximately $402,000.

A number of other institutional investors also recently bought and sold shares of LXP. Norges Bank bought a new position in shares of LXP Industrial Trust in the fourth quarter worth about $29,910,000. State Street Corp grew its position in shares of LXP Industrial Trust by 12.6% during the first quarter. State Street Corp now owns 17,231,555 shares of the real estate investment trust’s stock worth $272,573,000 after purchasing an additional 1,921,716 shares in the last quarter. Macquarie Group Ltd. grew its position in shares of LXP Industrial Trust by 15.0% during the first quarter. Macquarie Group Ltd. now owns 13,741,004 shares of the real estate investment trust’s stock worth $141,669,000 after purchasing an additional 1,788,043 shares in the last quarter. Adage Capital Partners GP L.L.C. grew its position in shares of LXP Industrial Trust by 180.0% during the third quarter. Adage Capital Partners GP L.L.C. now owns 2,100,000 shares of the real estate investment trust’s stock worth $18,690,000 after purchasing an additional 1,350,000 shares in the last quarter. Finally, Vanguard Group Inc. grew its holdings in LXP Industrial Trust by 2.8% during the 1st quarter. Vanguard Group Inc. now owns 46,080,850 shares of the real estate investment trust’s stock valued at $723,469,000 after buying an additional 1,259,719 shares in the last quarter. Institutional investors own 93.52% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, StockNews.com upgraded LXP Industrial Trust from a “sell” rating to a “hold” rating in a report on Wednesday.

LXP Industrial Trust Stock Performance

NYSE LXP opened at $8.53 on Thursday. The stock has a market capitalization of $2.51 billion, a PE ratio of 106.64 and a beta of 0.80. The business has a 50 day simple moving average of $8.88 and a two-hundred day simple moving average of $8.93. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.29 and a quick ratio of 0.29. LXP Industrial Trust has a 1-year low of $7.75 and a 1-year high of $10.75.

LXP Industrial Trust (NYSE:LXP) last announced its earnings results on Thursday, February 15th. The real estate investment trust reported $0.04 EPS for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.13). The company had revenue of $83.00 million during the quarter, compared to analysts’ expectations of $83.74 million. LXP Industrial Trust had a return on equity of 1.37% and a net margin of 8.92%. LXP Industrial Trust’s revenue for the quarter was up 2.3% compared to the same quarter last year. During the same quarter last year, the firm posted $0.17 EPS. On average, research analysts predict that LXP Industrial Trust will post 0.63 EPS for the current fiscal year.

LXP Industrial Trust Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Thursday, March 28th were issued a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a dividend yield of 6.10%. The ex-dividend date was Wednesday, March 27th. LXP Industrial Trust’s dividend payout ratio (DPR) is 650.08%.

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.