Van ECK Associates Corp Boosts Stock Holdings in LXP Industrial Trust (NYSE:LXP)

Posted by on Aug 8th, 2023

Van ECK Associates Corp lifted its stake in LXP Industrial Trust (NYSE:LXP – Free Report) by 5.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 29,761 shares of the real estate investment trust’s stock after buying an additional 1,542 shares during the period. Van ECK Associates Corp’s holdings in LXP Industrial Trust were worth $307,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Advisor Group Holdings Inc. increased its stake in LXP Industrial Trust by 81.1% in the 1st quarter. Advisor Group Holdings Inc. now owns 9,880 shares of the real estate investment trust’s stock worth $198,000 after purchasing an additional 4,423 shares during the period. American Century Companies Inc. bought a new stake in LXP Industrial Trust during the 1st quarter valued at $197,000. PNC Financial Services Group Inc. boosted its position in 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 during the period. AlphaCrest Capital Management LLC bought a new stake in LXP Industrial Trust in the 1st quarter worth $354,000. Finally, Natixis Advisors L.P. increased its position in shares of LXP Industrial Trust by 18.6% in the first quarter. Natixis Advisors L.P. now owns 73,688 shares of the real estate investment trust’s stock valued at $1,157,000 after acquiring an additional 11,569 shares during the period. Institutional investors own 92.26% of the company’s stock.

LXP Industrial Trust Stock Up 1.2 %

Shares of NYSE LXP opened at $10.04 on Tuesday. The firm has a fifty day simple moving average of $10.15 and a two-hundred day simple moving average of $10.23. LXP Industrial Trust has a 12 month low of $8.81 and a 12 month high of $11.92. The company has a current ratio of 0.09, a quick ratio of 0.09 and a debt-to-equity ratio of 0.19. The firm has a market capitalization of $2.94 billion, a PE ratio of 47.81, a price-to-earnings-growth ratio of 4.31 and a beta of 0.78.

LXP Industrial Trust (NYSE:LXP – Get Free Report) last released its quarterly earnings results on Wednesday, August 2nd. The real estate investment trust reported ($0.03) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.20). The company had revenue of $87.05 million during the quarter, compared to the consensus estimate of $83.35 million. LXP Industrial Trust had a return on equity of 2.92% and a net margin of 19.50%. LXP Industrial Trust’s quarterly revenue was up 9.1% on a year-over-year basis. During the same period in the previous year, the company earned $0.17 earnings per share. Equities analysts expect that LXP Industrial Trust will post 0.69 earnings per share for the current year.

LXP Industrial Trust Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, July 17th. Investors of record on Friday, June 30th were given a dividend of $0.125 per share. The ex-dividend date was Thursday, June 29th. This represents a $0.50 annualized dividend and a dividend yield of 4.98%. LXP Industrial Trust’s dividend payout ratio is presently 238.11%.

Analysts Set New Price Targets

LXP has been the subject of a number of analyst reports. JMP Securities initiated coverage on shares of LXP Industrial Trust in a report on Tuesday, April 18th. They set a “market perform” rating for the company. StockNews.com assumed coverage on LXP Industrial Trust in a report on Thursday, May 18th. They issued a “hold” rating for the company.

Get Our Latest Stock Report on LXP Industrial Trust

About LXP Industrial Trust

(Free Report)

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.

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Institutional Ownership by Quarter for LXP Industrial Trust (NYSE:LXP)

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