LXP Industrial Trust (NYSE:LXP) Shares Sold by Bank of America Corp DE

Bank of America Corp DE lessened its stake in LXP Industrial Trust (NYSE:LXP) by 16.8% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,314,271 shares of the real estate investment trust’s stock after selling 266,110 shares during the quarter. Bank of America Corp DE owned approximately 0.45% of LXP Industrial Trust worth $10,672,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of the stock. CIBC Asset Management Inc raised its stake in shares of LXP Industrial Trust by 4.9% in the 4th quarter. CIBC Asset Management Inc now owns 29,220 shares of the real estate investment trust’s stock valued at $237,000 after purchasing an additional 1,365 shares in the last quarter. First Trust Advisors LP raised its stake in shares of LXP Industrial Trust by 0.7% in the 4th quarter. First Trust Advisors LP now owns 280,970 shares of the real estate investment trust’s stock valued at $2,281,000 after purchasing an additional 1,896 shares in the last quarter. Summit Investment Advisors Inc. raised its stake in shares of LXP Industrial Trust by 6.8% in the 4th quarter. Summit Investment Advisors Inc. now owns 30,409 shares of the real estate investment trust’s stock valued at $247,000 after purchasing an additional 1,931 shares in the last quarter. Rhumbline Advisers raised its stake in shares of LXP Industrial Trust by 0.3% in the 4th quarter. Rhumbline Advisers now owns 946,380 shares of the real estate investment trust’s stock valued at $7,685,000 after purchasing an additional 2,543 shares in the last quarter. Finally, Orion Portfolio Solutions LLC raised its stake in shares of LXP Industrial Trust by 2.8% in the 4th quarter. Orion Portfolio Solutions LLC now owns 98,309 shares of the real estate investment trust’s stock valued at $798,000 after purchasing an additional 2,688 shares in the last quarter. Institutional investors and hedge funds own 93.52% of the company’s stock.

LXP Industrial Trust Price Performance

Shares of NYSE:LXP opened at $8.23 on Friday. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.21. LXP Industrial Trust has a fifty-two week low of $6.85 and a fifty-two week high of $10.57. The firm has a 50-day simple moving average of $8.13 and a 200 day simple moving average of $8.52. The company has a market cap of $2.43 billion, a PE ratio of 63.29 and a beta of 1.02.

LXP Industrial Trust (NYSE:LXP) last announced its quarterly earnings data on Thursday, May 1st. The real estate investment trust reported $0.16 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.16. LXP Industrial Trust had a net margin of 12.40% and a return on equity of 2.15%. The business had revenue of $87.89 million during the quarter, compared to the consensus estimate of $84.72 million. During the same quarter in the prior year, the firm earned $0.16 EPS. The company’s revenue for the quarter was up 3.0% compared to the same quarter last year. On average, sell-side analysts anticipate that LXP Industrial Trust will post 0.63 EPS for the current year.

LXP Industrial Trust Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st were given a $0.135 dividend. This represents a $0.54 annualized dividend and a yield of 6.56%. The ex-dividend date of this dividend was Monday, March 31st. LXP Industrial Trust’s dividend payout ratio (DPR) is 270.00%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on LXP. JMP Securities restated a “market perform” rating on shares of LXP Industrial Trust in a research note on Monday, May 5th. KeyCorp lowered their price objective on shares of LXP Industrial Trust from $11.00 to $10.00 and set an “overweight” rating for the company in a research report on Friday, May 2nd. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, LXP Industrial Trust has an average rating of “Moderate Buy” and an average target price of $11.00.

LXP Industrial Trust Company 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.