State of New Jersey Common Pension Fund D Raises Position in LXP Industrial Trust (NYSE:LXP)

State of New Jersey Common Pension Fund D boosted its stake in LXP Industrial Trust (NYSE:LXP) by 14.9% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 292,008 shares of the real estate investment trust’s stock after buying an additional 37,849 shares during the period. State of New Jersey Common Pension Fund D owned 0.10% of LXP Industrial Trust worth $2,897,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of LXP. Adage Capital Partners GP L.L.C. lifted its holdings in LXP Industrial Trust by 180.0% in the third quarter. Adage Capital Partners GP L.L.C. now owns 2,100,000 shares of the real estate investment trust’s stock worth $18,690,000 after buying an additional 1,350,000 shares during the period. Picton Mahoney Asset Management purchased a new stake in LXP Industrial Trust in the third quarter worth about $2,027,000. California Public Employees Retirement System lifted its holdings in LXP Industrial Trust by 17.9% in the third quarter. California Public Employees Retirement System now owns 1,468,327 shares of the real estate investment trust’s stock worth $13,068,000 after buying an additional 222,726 shares during the period. Manning & Napier Group LLC lifted its holdings in shares of LXP Industrial Trust by 30.3% during the fourth quarter. Manning & Napier Group LLC now owns 774,188 shares of the real estate investment trust’s stock valued at $7,680,000 after purchasing an additional 180,204 shares during the last quarter. Finally, Illinois Municipal Retirement Fund purchased a new position in shares of LXP Industrial Trust during the third quarter valued at approximately $1,527,000. 93.52% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded shares of LXP Industrial Trust from a “sell” rating to a “hold” rating in a report on Thursday.

LXP Industrial Trust Price Performance

LXP stock opened at $8.48 on Monday. The firm has a 50 day moving average price of $8.83 and a 200-day moving average price of $8.92. LXP Industrial Trust has a 52-week low of $7.75 and a 52-week high of $10.75. The firm has a market capitalization of $2.50 billion, a price-to-earnings ratio of 106.01 and a beta of 0.80. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.29 and a current ratio of 0.29.

LXP Industrial Trust (NYSE:LXP) last released its earnings results on Thursday, February 15th. The real estate investment trust reported $0.04 earnings per share (EPS) 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 business had revenue of $83.00 million for the quarter, compared to analysts’ expectations of $83.74 million. During the same quarter in the previous year, the business posted $0.17 earnings per share. LXP Industrial Trust’s revenue for the quarter was up 2.3% on a year-over-year basis. Equities research analysts forecast that LXP Industrial Trust will post 0.64 EPS for the current fiscal year.

LXP Industrial Trust Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Thursday, March 28th were given a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a dividend yield of 6.13%. The ex-dividend date was Wednesday, March 27th. LXP Industrial Trust’s dividend payout ratio (DPR) is currently 650.08%.

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.