Raymond James Financial Services Advisors Inc. Invests $112,000 in LXP Industrial Trust (NYSE:LXP)

Raymond James Financial Services Advisors Inc. bought a new position in LXP Industrial Trust (NYSE:LXP) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 11,324 shares of the real estate investment trust’s stock, valued at approximately $112,000.

A number of other hedge funds have also recently modified their holdings of LXP. AE Wealth Management LLC purchased a new stake in shares of LXP Industrial Trust in the third quarter worth about $1,456,000. SG Americas Securities LLC boosted its position in LXP Industrial Trust by 494.9% during the third quarter. SG Americas Securities LLC now owns 148,429 shares of the real estate investment trust’s stock worth $1,321,000 after purchasing an additional 123,478 shares in the last quarter. LFA Lugano Financial Advisors SA purchased a new position in LXP Industrial Trust during the third quarter worth approximately $57,000. Dakota Wealth Management boosted its position in LXP Industrial Trust by 6.3% during the third quarter. Dakota Wealth Management now owns 23,614 shares of the real estate investment trust’s stock worth $210,000 after purchasing an additional 1,404 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its position in LXP Industrial Trust by 5.6% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 120,263 shares of the real estate investment trust’s stock worth $1,070,000 after purchasing an additional 6,373 shares in the last quarter. Hedge funds and other institutional investors own 93.52% of the company’s stock.

Analysts Set New Price Targets

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

LXP Industrial Trust Price Performance

Shares of LXP Industrial Trust stock opened at $8.45 on Friday. The business has a 50 day simple moving average of $8.84 and a two-hundred day simple moving average of $8.92. LXP Industrial Trust has a 12 month low of $7.75 and a 12 month high of $10.75. The stock has a market capitalization of $2.49 billion, a P/E ratio of 105.64 and a beta of 0.80. 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 (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). LXP Industrial Trust had a net margin of 8.92% and a return on equity of 1.37%. The firm had revenue of $83.00 million for the quarter, compared to analyst estimates of $83.74 million. During the same period in the previous year, the company earned $0.17 EPS. LXP Industrial Trust’s revenue was up 2.3% compared to the same quarter last year. As a group, analysts predict that LXP Industrial Trust will post 0.64 EPS for the current fiscal year.

LXP Industrial Trust Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Thursday, March 28th were issued a dividend of $0.13 per share. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 6.15%. LXP Industrial Trust’s payout ratio is currently 650.08%.

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.