Alps Advisors Inc. Lowers Stake in LXP Industrial Trust (NYSE:LXP)

Alps Advisors Inc. lessened its holdings in LXP Industrial Trust (NYSE:LXP) by 13.0% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 29,701 shares of the real estate investment trust’s stock after selling 4,447 shares during the quarter. Alps Advisors Inc.’s holdings in LXP Industrial Trust were worth $257,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in the business. Proficio Capital Partners LLC purchased a new position in LXP Industrial Trust in the fourth quarter worth about $83,000. Raymond James Financial Inc. bought a new position in shares of LXP Industrial Trust in the fourth quarter worth approximately $359,000. PNC Financial Services Group Inc. boosted its position in shares of LXP Industrial Trust by 25.0% in the fourth quarter. PNC Financial Services Group Inc. now owns 46,306 shares of the real estate investment trust’s stock worth $376,000 after purchasing an additional 9,266 shares during the period. Sequoia Financial Advisors LLC bought a new position in shares of LXP Industrial Trust during the fourth quarter worth $92,000. Finally, Avantax Advisory Services Inc. boosted its position in shares of LXP Industrial Trust by 44.8% during the fourth quarter. Avantax Advisory Services Inc. now owns 24,608 shares of the real estate investment trust’s stock worth $200,000 after acquiring an additional 7,610 shares during the last quarter. Hedge funds and other institutional investors own 93.52% of the company’s stock.

LXP Industrial Trust Stock Performance

LXP stock opened at $8.31 on Friday. LXP Industrial Trust has a 12-month low of $6.85 and a 12-month high of $10.57. The firm has a market cap of $2.46 billion, a P/E ratio of 41.56 and a beta of 1.03. The stock’s 50 day simple moving average is $8.47 and its 200 day simple moving average is $8.38. The company has a current ratio of 0.13, a quick ratio of 0.13 and a debt-to-equity ratio of 0.19.

LXP Industrial Trust (NYSE:LXP) last issued its quarterly earnings results on Thursday, May 1st. The real estate investment trust reported $0.16 EPS for the quarter, hitting the consensus estimate of $0.16. LXP Industrial Trust had a return on equity of 3.13% and a net margin of 17.63%. The company had revenue of $87.89 million for the quarter, compared to the consensus estimate of $84.72 million. During the same period in the previous year, the business posted $0.16 EPS. The company’s revenue for the quarter was up 3.0% on a year-over-year basis. As a group, equities research analysts predict that LXP Industrial Trust will post 0.63 EPS for the current year.

LXP Industrial Trust Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, July 15th. Investors of record on Monday, June 30th were issued a dividend of $0.135 per share. The ex-dividend date was Monday, June 30th. This represents a $0.54 annualized dividend and a yield of 6.50%. LXP Industrial Trust’s payout ratio is currently 270.00%.

Analysts Set New Price Targets

LXP has been the topic of several recent analyst reports. JMP Securities reaffirmed a “market perform” rating on shares of LXP Industrial Trust in a research note on Monday, May 5th. KeyCorp dropped their price objective on shares of LXP Industrial Trust from $11.00 to $10.00 and set an “overweight” rating for the company in a report on Friday, May 2nd.

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.