Geode Capital Management LLC Cuts Holdings in LXP Industrial Trust (NYSE:LXP)

Geode Capital Management LLC reduced its position in shares of LXP Industrial Trust (NYSE:LXP) by 0.1% during the 4th quarter, HoldingsChannel reports. The fund owned 7,383,684 shares of the real estate investment trust’s stock after selling 5,144 shares during the period. Geode Capital Management LLC’s holdings in LXP Industrial Trust were worth $59,969,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of the business. HighTower Advisors LLC boosted its position in LXP Industrial Trust by 2.6% during the third quarter. HighTower Advisors LLC now owns 52,755 shares of the real estate investment trust’s stock worth $530,000 after purchasing an additional 1,333 shares in the last quarter. Jane Street Group LLC lifted its position in shares of LXP Industrial Trust by 101.3% during the 3rd quarter. Jane Street Group LLC now owns 546,430 shares of the real estate investment trust’s stock valued at $5,492,000 after buying an additional 274,933 shares in the last quarter. XTX Topco Ltd acquired a new stake in LXP Industrial Trust in the 3rd quarter valued at $473,000. Orion Portfolio Solutions LLC increased its holdings in LXP Industrial Trust by 16.2% in the 3rd quarter. Orion Portfolio Solutions LLC now owns 95,621 shares of the real estate investment trust’s stock worth $961,000 after acquiring an additional 13,301 shares in the last quarter. Finally, Nomura Asset Management Co. Ltd. raised its position in LXP Industrial Trust by 0.3% during the third quarter. Nomura Asset Management Co. Ltd. now owns 366,100 shares of the real estate investment trust’s stock worth $3,679,000 after acquiring an additional 1,100 shares during the period. 93.52% of the stock is currently owned by institutional investors and hedge funds.

LXP Industrial Trust Stock Up 1.5 %

Shares of LXP opened at $7.54 on Friday. The stock has a 50 day moving average price of $8.57 and a 200 day moving average price of $8.85. LXP Industrial Trust has a one year low of $6.85 and a one year high of $10.57. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.16 and a current ratio of 0.16. The stock has a market capitalization of $2.23 billion, a price-to-earnings ratio of 58.04 and a beta of 0.95.

LXP Industrial Trust (NYSE:LXP) last released its earnings results on Thursday, February 13th. The real estate investment trust reported $0.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.18. The business had revenue of $100.85 million during the quarter, compared to analyst estimates of $84.57 million. LXP Industrial Trust had a net margin of 12.40% and a return on equity of 2.15%. Equities research analysts forecast that LXP Industrial Trust will post 0.63 earnings per share for the current fiscal year.

LXP Industrial Trust Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be paid a $0.135 dividend. This represents a $0.54 dividend on an annualized basis and a yield of 7.16%. The ex-dividend date is Monday, March 31st. LXP Industrial Trust’s dividend payout ratio (DPR) is 415.38%.

Wall Street Analysts Forecast Growth

Separately, JMP Securities reiterated a “market perform” rating on shares of LXP Industrial Trust in a research report on Friday, February 14th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $11.33.

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.