LXP Industrial Trust (NYSE:LXP) Upgraded to Hold by StockNews.com

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

LXP Industrial Trust Trading Down 3.3 %

LXP Industrial Trust stock opened at $8.53 on Wednesday. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.20. LXP Industrial Trust has a 12 month low of $7.75 and a 12 month high of $10.75. The stock’s 50 day simple moving average is $8.88 and its two-hundred day simple moving average is $8.93. The firm has a market cap of $2.51 billion, a PE ratio of 106.64 and a beta of 0.80.

LXP Industrial Trust (NYSE:LXP) last released its quarterly earnings data on Thursday, February 15th. The real estate investment trust reported $0.04 EPS for the quarter, missing the consensus estimate of $0.17 by ($0.13). LXP Industrial Trust had a return on equity of 1.37% and a net margin of 8.92%. The company had revenue of $83.00 million during the quarter, compared to analysts’ expectations of $83.74 million. During the same quarter in the prior year, the company posted $0.17 EPS. The company’s revenue for the quarter was up 2.3% on a year-over-year basis. Analysts anticipate that LXP Industrial Trust will post 0.63 earnings per share for the current year.

LXP Industrial Trust Dividend Announcement

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. The ex-dividend date was Wednesday, March 27th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 6.10%. LXP Industrial Trust’s dividend payout ratio (DPR) is 650.08%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in LXP. Advisor Group Holdings Inc. lifted its position in shares of LXP Industrial Trust by 81.1% during the 1st quarter. Advisor Group Holdings Inc. now owns 9,880 shares of the real estate investment trust’s stock valued at $198,000 after buying an additional 4,423 shares in the last quarter. American Century Companies Inc. purchased a new position in shares of LXP Industrial Trust during the 1st quarter valued at approximately $197,000. PNC Financial Services Group Inc. lifted its position in shares of LXP Industrial Trust by 4.6% during the 1st quarter. PNC Financial Services Group Inc. now owns 34,813 shares of the real estate investment trust’s stock valued at $547,000 after buying an additional 1,536 shares in the last quarter. AlphaCrest Capital Management LLC purchased a new position in shares of LXP Industrial Trust during the 1st quarter valued at approximately $354,000. Finally, Natixis Advisors L.P. lifted its position in shares of LXP Industrial Trust by 18.6% during the 1st quarter. Natixis Advisors L.P. now owns 73,688 shares of the real estate investment trust’s stock valued at $1,157,000 after buying an additional 11,569 shares in the last quarter. 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.