Summit Investment Advisors Inc. Acquires 1,931 Shares of LXP Industrial Trust (NYSE:LXP)

Summit Investment Advisors Inc. grew its holdings in LXP Industrial Trust (NYSE:LXP) by 6.8% in the 4th quarter, Holdings Channel reports. The fund owned 30,409 shares of the real estate investment trust’s stock after purchasing an additional 1,931 shares during the quarter. Summit Investment Advisors Inc.’s holdings in LXP Industrial Trust were worth $247,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of LXP. Sterling Capital Management LLC increased its stake in LXP Industrial Trust by 805.0% during the 4th quarter. Sterling Capital Management LLC now owns 9,159 shares of the real estate investment trust’s stock worth $74,000 after purchasing an additional 8,147 shares in the last quarter. Wealthfront Advisers LLC acquired a new position in shares of LXP Industrial Trust in the fourth quarter valued at approximately $80,000. Townsquare Capital LLC acquired a new stake in shares of LXP Industrial Trust during the fourth quarter worth $82,000. Proficio Capital Partners LLC bought a new stake in LXP Industrial Trust in the 4th quarter valued at $83,000. Finally, Wealth Advisory Solutions LLC acquired a new position in LXP Industrial Trust in the 4th quarter worth $91,000. Institutional investors and hedge funds own 93.52% of the company’s stock.

LXP Industrial Trust Stock Performance

Shares of LXP stock opened at $7.60 on Tuesday. LXP Industrial Trust has a 12 month low of $6.85 and a 12 month high of $10.57. The company’s fifty day simple moving average is $8.50 and its 200-day simple moving average is $8.75. The firm has a market cap of $2.25 billion, a PE ratio of 58.47 and a beta of 0.95. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.21.

LXP Industrial Trust (NYSE:LXP) last issued its quarterly earnings results on Thursday, February 13th. The real estate investment trust reported $0.16 EPS for the quarter, topping the consensus estimate of ($0.02) by $0.18. The firm had revenue of $100.85 million for the quarter, compared to analysts’ expectations 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 expect that LXP Industrial Trust will post 0.63 EPS for the current fiscal year.

LXP Industrial Trust Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st were given a dividend of $0.135 per share. This represents a $0.54 annualized dividend and a dividend yield of 7.11%. The ex-dividend date was Monday, March 31st. LXP Industrial Trust’s dividend payout ratio (DPR) is 415.38%.

Analyst Ratings Changes

Separately, JMP Securities reissued a “market perform” rating on shares of LXP Industrial Trust in a research note on Friday, February 14th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company. According to MarketBeat, LXP Industrial Trust presently has an average rating of “Hold” and a consensus target price 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.