Raymond James Financial Inc. Purchases New Position in LXP Industrial Trust (NYSE:LXP)

Raymond James Financial Inc. acquired a new position in LXP Industrial Trust (NYSE:LXP) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 44,213 shares of the real estate investment trust’s stock, valued at approximately $359,000.

Several other institutional investors also recently bought and sold shares of the company. Proficio Capital Partners LLC bought a new position in shares of LXP Industrial Trust during the 4th quarter worth $83,000. Wealth Advisory Solutions LLC bought a new position in LXP Industrial Trust during the 4th quarter worth about $91,000. First Hawaiian Bank bought a new position in LXP Industrial Trust during the 4th quarter worth about $100,000. KBC Group NV increased its position in LXP Industrial Trust by 30.6% during the 4th quarter. KBC Group NV now owns 13,283 shares of the real estate investment trust’s stock valued at $108,000 after purchasing an additional 3,113 shares during the period. Finally, Blue Trust Inc. raised its holdings in shares of LXP Industrial Trust by 22.8% in the 4th quarter. Blue Trust Inc. now owns 15,089 shares of the real estate investment trust’s stock valued at $123,000 after purchasing an additional 2,798 shares in the last quarter. 93.52% of the stock is currently owned by hedge funds and other institutional investors.

LXP Industrial Trust Price Performance

Shares of LXP stock opened at $7.69 on Thursday. The company has a market cap of $2.27 billion, a P/E ratio of 59.16 and a beta of 0.95. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.16 and a quick ratio of 0.16. The stock’s 50-day moving average is $8.60 and its 200 day moving average is $8.89. LXP Industrial Trust has a 1-year low of $6.85 and a 1-year high of $10.57.

LXP Industrial Trust (NYSE:LXP) last released its quarterly earnings results on Thursday, February 13th. The real estate investment trust reported $0.16 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.18. The business had revenue of $100.85 million for the quarter, compared to analysts’ expectations of $84.57 million. LXP Industrial Trust had a net margin of 12.40% and a return on equity of 2.15%. Research analysts predict that LXP Industrial Trust will post 0.63 earnings per share for the current fiscal year.

LXP Industrial Trust Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be given a dividend of $0.135 per share. This represents a $0.54 dividend on an annualized basis and a dividend yield of 7.02%. The ex-dividend date of this dividend is Monday, March 31st. LXP Industrial Trust’s payout ratio is presently 415.38%.

Analyst Upgrades and Downgrades

Separately, JMP Securities reiterated a “market perform” rating on shares of LXP Industrial Trust in a research note on Friday, February 14th. One research analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $11.33.

LXP Industrial Trust Profile

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.