Price T Rowe Associates Inc. MD Raises Position in LXP Industrial Trust (NYSE:LXP)

Price T Rowe Associates Inc. MD boosted its position in shares of LXP Industrial Trust (NYSE:LXP) by 10.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 198,119 shares of the real estate investment trust’s stock after buying an additional 19,126 shares during the period. Price T Rowe Associates Inc. MD’s holdings in LXP Industrial Trust were worth $1,609,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of LXP. Vanguard Group Inc. increased its position in shares of LXP Industrial Trust by 0.5% during the fourth quarter. Vanguard Group Inc. now owns 45,849,663 shares of the real estate investment trust’s stock worth $372,299,000 after purchasing an additional 243,372 shares in the last quarter. Aew Capital Management L P grew its holdings in shares of LXP Industrial Trust by 72.5% during the fourth quarter. Aew Capital Management L P now owns 5,815,781 shares of the real estate investment trust’s stock worth $47,224,000 after buying an additional 2,445,084 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of LXP Industrial Trust by 0.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 5,331,857 shares of the real estate investment trust’s stock valued at $43,295,000 after buying an additional 46,050 shares during the last quarter. Norges Bank purchased a new position in shares of LXP Industrial Trust in the fourth quarter worth about $40,114,000. Finally, William Blair Investment Management LLC boosted its position in LXP Industrial Trust by 2.5% during the fourth quarter. William Blair Investment Management LLC now owns 4,009,976 shares of the real estate investment trust’s stock worth $32,561,000 after acquiring an additional 97,191 shares during the last quarter. 93.52% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have commented on LXP. JMP Securities reiterated a “market perform” rating on shares of LXP Industrial Trust in a report on Monday. KeyCorp reduced their price objective on LXP Industrial Trust from $11.00 to $10.00 and set an “overweight” rating on the stock in a research report on Friday, May 2nd. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, LXP Industrial Trust currently has a consensus rating of “Moderate Buy” and an average target price of $11.00.

LXP Industrial Trust Stock Performance

LXP Industrial Trust stock opened at $8.10 on Friday. The firm has a 50 day simple moving average of $8.31 and a 200-day simple moving average of $8.61. The stock has a market cap of $2.39 billion, a price-to-earnings ratio of 62.27 and a beta of 1.02. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.16 and a quick ratio of 0.16. LXP Industrial Trust has a 1-year low of $6.85 and a 1-year high of $10.57.

LXP Industrial Trust (NYSE:LXP) last issued its quarterly earnings data on Thursday, May 1st. The real estate investment trust reported $0.16 earnings per share for the quarter, hitting the consensus estimate of $0.16. LXP Industrial Trust had a return on equity of 2.15% and a net margin of 12.40%. The company had revenue of $87.89 million during the quarter, compared to analyst estimates of $84.72 million. During the same period in the prior year, the business posted $0.16 earnings per share. The firm’s revenue for the quarter was up 3.0% compared to the same quarter last year. On average, analysts expect that LXP Industrial Trust will post 0.63 EPS for the current year.

LXP Industrial Trust Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st were paid a dividend of $0.135 per share. This represents a $0.54 annualized dividend and a yield of 6.67%. The ex-dividend date was Monday, March 31st. LXP Industrial Trust’s dividend payout ratio (DPR) is presently 270.00%.

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.