Meritage Portfolio Management Sells 29,542 Shares of LXP Industrial Trust (NYSE:LXP)

Meritage Portfolio Management cut its stake in shares of LXP Industrial Trust (NYSE:LXP) by 7.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 395,235 shares of the real estate investment trust’s stock after selling 29,542 shares during the period. Meritage Portfolio Management’s holdings in LXP Industrial Trust were worth $3,209,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. GAMMA Investing LLC increased its holdings in LXP Industrial Trust by 81.1% during the 3rd quarter. GAMMA Investing LLC now owns 3,421 shares of the real estate investment trust’s stock worth $34,000 after acquiring an additional 1,532 shares during the period. First Hawaiian Bank purchased a new position in shares of LXP Industrial Trust during the 4th quarter valued at $100,000. KBC Group NV increased its holdings in shares of LXP Industrial Trust by 32.7% in the third quarter. KBC Group NV now owns 10,170 shares of the real estate investment trust’s stock worth $102,000 after purchasing an additional 2,504 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its position in shares of LXP Industrial Trust by 34.8% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 11,424 shares of the real estate investment trust’s stock worth $116,000 after buying an additional 2,948 shares in the last quarter. Finally, Atria Investments Inc bought a new stake in LXP Industrial Trust during the third quarter valued at $118,000. 93.52% of the stock is owned by hedge funds and other institutional investors.

LXP Industrial Trust Price Performance

Shares of NYSE:LXP opened at $8.36 on Thursday. LXP Industrial Trust has a one year low of $7.65 and a one year high of $10.56. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.12 and a quick ratio of 0.12. The firm has a market capitalization of $2.46 billion, a price-to-earnings ratio of 139.27 and a beta of 0.89. The company’s fifty day moving average price is $8.51 and its 200-day moving average price is $9.37.

Wall Street Analyst Weigh In

Separately, JMP Securities restated a “market perform” rating on shares of LXP Industrial Trust in a research note on Friday, December 20th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, LXP Industrial Trust presently has a consensus rating of “Hold” and a consensus target price of $11.33.

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.