LXP Industrial Trust (NYSE:LXP) Downgraded to “Sell” at StockNews.com

LXP Industrial Trust (NYSE:LXP) was downgraded by equities research analysts at StockNews.com from a “hold” rating to a “sell” rating in a note issued to investors on Friday.

LXP Industrial Trust Stock Performance

Shares of LXP stock opened at $8.59 on Friday. The stock has a fifty day moving average of $8.82 and a 200 day moving average 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 $2.53 billion, a price-to-earnings ratio of 107.38 and a beta of 0.82. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.20.

LXP Industrial Trust (NYSE:LXP) last announced its quarterly earnings results on Thursday, February 15th. The real estate investment trust reported $0.04 EPS for the quarter, missing analysts’ consensus estimates 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 business had revenue of $83.00 million during the quarter, compared to analysts’ expectations of $83.74 million. During the same period in the previous year, the business earned $0.17 EPS. The business’s revenue was up 2.3% compared to the same quarter last year. As a group, research analysts expect that LXP Industrial Trust will post 0.64 earnings per share for the current year.

Hedge Funds Weigh In On LXP Industrial Trust

Several institutional investors and hedge funds have recently added to or reduced their stakes in LXP. Dakota Wealth Management lifted its position in LXP Industrial Trust by 6.3% during the third quarter. Dakota Wealth Management now owns 23,614 shares of the real estate investment trust’s stock valued at $210,000 after buying an additional 1,404 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in LXP Industrial Trust by 5.6% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 120,263 shares of the real estate investment trust’s stock valued at $1,070,000 after buying an additional 6,373 shares during the period. Inspire Investing LLC lifted its position in LXP Industrial Trust by 5.3% during the third quarter. Inspire Investing LLC now owns 34,403 shares of the real estate investment trust’s stock valued at $306,000 after buying an additional 1,718 shares during the period. First Trust Direct Indexing L.P. purchased a new position in LXP Industrial Trust during the third quarter valued at $90,000. Finally, AlphaMark Advisors LLC purchased a new position in LXP Industrial Trust during the third quarter valued at $230,000. 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.