StockNews.com Upgrades LXP Industrial Trust (NYSE:LXP) to “Hold”

StockNews.com upgraded shares of LXP Industrial Trust (NYSE:LXP) from a sell rating to a hold rating in a research report report published on Wednesday morning.

LXP Industrial Trust Trading Up 1.3 %

Shares of LXP Industrial Trust stock opened at $8.58 on Wednesday. The stock has a market cap of $2.53 billion, a PE ratio of 107.26 and a beta of 0.80. The firm has a fifty day moving average price of $8.86 and a 200 day moving average price of $8.92. LXP Industrial Trust has a 1 year low of $7.75 and a 1 year high of $10.75. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.29 and a quick ratio of 0.29.

LXP Industrial Trust (NYSE:LXP) last announced its quarterly earnings results on Thursday, February 15th. The real estate investment trust reported $0.04 earnings per share for the quarter, missing the consensus estimate of $0.17 by ($0.13). LXP Industrial Trust had a net margin of 8.92% and a return on equity of 1.37%. The company had revenue of $83.00 million for the quarter, compared to analysts’ expectations of $83.74 million. During the same quarter in the prior year, the business posted $0.17 earnings per share. The firm’s revenue was up 2.3% compared to the same quarter last year. Equities research analysts predict that LXP Industrial Trust will post 0.64 earnings per share for the current year.

LXP Industrial Trust Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Thursday, March 28th were given a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a dividend yield of 6.06%. The ex-dividend date was Wednesday, March 27th. LXP Industrial Trust’s dividend payout ratio (DPR) is presently 650.08%.

Hedge Funds Weigh In On LXP Industrial Trust

A number of large investors have recently bought and sold shares of the business. CWM LLC lifted its position in shares of LXP Industrial Trust by 65.1% during the 4th quarter. CWM LLC now owns 3,298 shares of the real estate investment trust’s stock valued at $33,000 after buying an additional 1,300 shares in the last quarter. LFA Lugano Financial Advisors SA acquired a new position in shares of LXP Industrial Trust during the 3rd quarter worth about $57,000. First Trust Direct Indexing L.P. purchased a new position in LXP Industrial Trust in the 3rd quarter valued at about $90,000. Sherbrooke Park Advisers LLC acquired a new stake in LXP Industrial Trust in the 3rd quarter worth about $90,000. Finally, Quadrant Capital Group LLC boosted its stake in shares of LXP Industrial Trust by 84.0% in the fourth quarter. Quadrant Capital Group LLC now owns 9,211 shares of the real estate investment trust’s stock worth $91,000 after acquiring an additional 4,206 shares during the last quarter. Institutional investors and hedge funds own 93.52% of the company’s stock.

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.