LXP Industrial Trust (NYSE:LXP) Downgraded by StockNews.com

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

LXP Industrial Trust Stock Performance

LXP opened at $8.72 on Friday. The firm has a market cap of $2.57 billion, a P/E ratio of 218.05 and a beta of 0.82. LXP Industrial Trust has a 1-year low of $7.75 and a 1-year high of $10.75. The company has a 50 day simple moving average of $8.82 and a two-hundred day simple moving average 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 (NYSE:LXP) last issued its earnings results on Thursday, February 15th. The real estate investment trust reported $0.04 earnings per share for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.13). LXP Industrial Trust had a return on equity of 0.86% and a net margin of 5.52%. The company had revenue of $83.00 million for the quarter, compared to the consensus estimate of $83.74 million. During the same quarter in the prior year, the company posted $0.17 EPS. LXP Industrial Trust’s revenue was up 2.3% compared to the same quarter last year. Equities analysts forecast that LXP Industrial Trust will post 0.64 earnings per share for the current fiscal year.

LXP Industrial Trust Dividend Announcement

The business also recently announced 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. The ex-dividend date was Wednesday, March 27th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 5.96%. LXP Industrial Trust’s dividend payout ratio is 1,300.33%.

Institutional Investors Weigh In On LXP Industrial Trust

A number of hedge funds have recently bought and sold shares of the business. International Assets Investment Management LLC raised its stake in shares of LXP Industrial Trust by 869.1% in the fourth quarter. International Assets Investment Management LLC now owns 177,042 shares of the real estate investment trust’s stock valued at $17,847,000 after acquiring an additional 158,774 shares during the period. Aew Capital Management L P purchased a new stake in shares of LXP Industrial Trust in the fourth quarter valued at $4,643,000. Adage Capital Partners GP L.L.C. raised its stake in shares of 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 valued at $18,690,000 after acquiring an additional 1,350,000 shares during the period. California Public Employees Retirement System raised its stake in shares of 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 valued at $13,068,000 after acquiring an additional 222,726 shares during the period. Finally, Van Lanschot Kempen Investment Management N.V. raised its stake in shares of LXP Industrial Trust by 4.5% in the third quarter. Van Lanschot Kempen Investment Management N.V. now owns 1,394,400 shares of the real estate investment trust’s stock valued at $12,410,000 after acquiring an additional 60,100 shares during the period. Hedge funds and other institutional investors own 93.52% of the company’s stock.

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.