TheStreet Downgrades LXP Industrial Trust (NYSE:LXP) to C+

LXP Industrial Trust (NYSE:LXP – Get Rating) was downgraded by equities researchers at TheStreet from a “b” rating to a “c+” rating in a research report issued on Thursday, TheStreetRatingsTable reports.

LXP has been the subject of several other reports. Bank of America initiated coverage on LXP Industrial Trust in a research note on Monday, April 18th. They issued an “underperform” rating and a $14.00 target price for the company. StockNews.com assumed coverage on shares of LXP Industrial Trust in a research report on Thursday, March 31st. They issued a “hold” rating on the stock. Finally, Zacks Investment Research raised shares of LXP Industrial Trust from a “sell” rating to a “hold” rating in a research report on Friday, March 11th. One analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $15.40.

Shares of LXP Industrial Trust stock opened at $11.67 on Thursday. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.22 and a quick ratio of 0.22. LXP Industrial Trust has a 1 year low of $11.56 and a 1 year high of $16.10. The company has a market capitalization of $3.36 billion, a P/E ratio of 9.64, a P/E/G ratio of 8.75 and a beta of 0.74. The business has a 50 day moving average price of $14.48 and a 200 day moving average price of $14.78.

LXP Industrial Trust (NYSE:LXP – Get Rating) last posted its quarterly earnings data on Thursday, May 5th. The real estate investment trust reported $0.03 EPS for the quarter, topping analysts’ consensus estimates of $0.01 by $0.02. The firm had revenue of $80.30 million during the quarter, compared to analysts’ expectations of $80.69 million. LXP Industrial Trust had a return on equity of 18.96% and a net margin of 111.24%. The firm’s quarterly revenue was down 13.3% compared to the same quarter last year. During the same quarter last year, the business posted $0.22 EPS. As a group, research analysts expect that LXP Industrial Trust will post 0.65 EPS for the current fiscal year.

Institutional investors and hedge funds have recently modified their holdings of the stock. CWM LLC acquired a new stake in LXP Industrial Trust during the 4th quarter valued at approximately $25,000. EverSource Wealth Advisors LLC purchased a new position in shares of LXP Industrial Trust during the 4th quarter valued at approximately $27,000. HHM Wealth Advisors LLC boosted its stake in shares of LXP Industrial Trust by 47.1% during the 4th quarter. HHM Wealth Advisors LLC now owns 2,060 shares of the real estate investment trust’s stock valued at $32,000 after buying an additional 660 shares during the last quarter. USA Financial Portformulas Corp acquired a new stake in shares of LXP Industrial Trust during the fourth quarter worth approximately $36,000. Finally, FNY Investment Advisers LLC bought a new stake in shares of LXP Industrial Trust in the first quarter worth $39,000. 98.07% of the stock is owned by hedge funds and other institutional investors.

LXP Industrial Trust Company Profile (Get Rating)

Lexington Realty Trust (NYSE: LXP) is a publicly traded real estate investment trust (REIT) that owns a portfolio of real estate assets consisting primarily of equity investments in single-tenant net-leased industrial properties across the United States. Lexington seeks to expand its industrial portfolio through build-to-suit transactions, sale-leaseback transactions and other transactions, including acquisitions.

See Also