LXP Industrial Trust (NYSE:LXP) Downgraded by StockNews.com to “Sell”

StockNews.com downgraded shares of LXP Industrial Trust (NYSE:LXP) from a hold rating to a sell rating in a research report released on Friday.

LXP Industrial Trust Price Performance

Shares of LXP opened at $8.72 on Friday. The company has a market cap of $2.57 billion, a P/E ratio of 218.05 and a beta of 0.82. The stock has a fifty day moving average price of $8.82 and a 200 day moving average price of $8.92. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.27 and a quick ratio of 0.29. LXP Industrial Trust has a 12 month low of $7.75 and a 12 month high of $10.75.

LXP Industrial Trust (NYSE:LXP) last issued its quarterly earnings data on Thursday, February 15th. The real estate investment trust reported $0.04 EPS for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.13). The company had revenue of $83.00 million for the quarter, compared to the consensus estimate of $83.74 million. LXP Industrial Trust had a return on equity of 0.86% and a net margin of 5.52%. LXP Industrial Trust’s quarterly revenue was up 2.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.17 earnings per share. On average, research analysts forecast that LXP Industrial Trust will post 0.64 earnings per share for the current year.

LXP Industrial Trust Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Thursday, March 28th were given a dividend of $0.13 per share. The ex-dividend date was Wednesday, March 27th. This represents a $0.52 dividend on an annualized basis and a yield of 5.96%. LXP Industrial Trust’s dividend payout ratio (DPR) is presently 1,300.33%.

Institutional Trading of LXP Industrial Trust

Several institutional investors have recently modified their holdings of the company. CWM LLC lifted its holdings in shares of LXP Industrial Trust by 65.1% in the fourth 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 during the period. Dakota Wealth Management raised its position in shares of LXP Industrial Trust by 6.3% during the third quarter. Dakota Wealth Management now owns 23,614 shares of the real estate investment trust’s stock worth $210,000 after purchasing an additional 1,404 shares during the period. Van ECK Associates Corp raised its position in shares of LXP Industrial Trust by 4.3% during the third quarter. Van ECK Associates Corp now owns 33,936 shares of the real estate investment trust’s stock worth $302,000 after purchasing an additional 1,406 shares during the period. abrdn plc raised its position in shares of LXP Industrial Trust by 2.5% during the third quarter. abrdn plc now owns 60,477 shares of the real estate investment trust’s stock worth $538,000 after purchasing an additional 1,464 shares during the period. Finally, New York State Teachers Retirement System raised its position in shares of LXP Industrial Trust by 0.3% during the fourth quarter. New York State Teachers Retirement System now owns 512,191 shares of the real estate investment trust’s stock worth $5,081,000 after purchasing an additional 1,594 shares during the period. 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.