Bank of New York Mellon Corp Sells 114,487 Shares of LXP Industrial Trust (NYSE:LXP)

Bank of New York Mellon Corp cut its stake in shares of LXP Industrial Trust (NYSE:LXP) by 4.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,647,739 shares of the real estate investment trust’s stock after selling 114,487 shares during the period. Bank of New York Mellon Corp owned 0.90% of LXP Industrial Trust worth $22,903,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in LXP. Norges Bank purchased a new stake in shares of LXP Industrial Trust during the 4th quarter worth approximately $40,114,000. Balyasny Asset Management L.P. lifted its stake in LXP Industrial Trust by 514.9% in the fourth quarter. Balyasny Asset Management L.P. now owns 2,165,475 shares of the real estate investment trust’s stock worth $17,584,000 after purchasing an additional 1,813,280 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. lifted its stake in LXP Industrial Trust by 55.9% in the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 4,836,743 shares of the real estate investment trust’s stock worth $41,838,000 after purchasing an additional 1,733,329 shares during the last quarter. Sophron Capital Management L.P. purchased a new position in shares of LXP Industrial Trust in the fourth quarter valued at about $10,874,000. Finally, Evergreen Capital Management LLC increased its position in shares of LXP Industrial Trust by 1,993.3% in the fourth quarter. Evergreen Capital Management LLC now owns 902,167 shares of the real estate investment trust’s stock valued at $7,447,000 after acquiring an additional 859,069 shares during the period. 93.52% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have recently commented on LXP. KeyCorp cut their price target on shares of LXP Industrial Trust from $11.00 to $10.00 and set an “overweight” rating on the stock in a report on Friday, May 2nd. JMP Securities restated a “market perform” rating on shares of LXP Industrial Trust in a research report on Monday, May 5th.

LXP Industrial Trust Stock Down 1.4%

NYSE:LXP opened at $8.31 on Friday. The stock’s fifty day moving average is $8.47 and its two-hundred day moving average is $8.38. The company has a quick ratio of 0.13, a current ratio of 0.13 and a debt-to-equity ratio of 0.19. LXP Industrial Trust has a 52 week low of $6.85 and a 52 week high of $10.57. The stock has a market capitalization of $2.46 billion, a price-to-earnings ratio of 41.56 and a beta of 1.03.

LXP Industrial Trust (NYSE:LXP) last posted 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 17.63% and a return on equity of 3.13%. The firm had revenue of $87.89 million for the quarter, compared to analyst estimates of $84.72 million. During the same period last year, the firm posted $0.16 EPS. LXP Industrial Trust’s quarterly revenue was up 3.0% on a year-over-year basis. Research analysts anticipate that LXP Industrial Trust will post 0.63 EPS for the current year.

LXP Industrial Trust Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th were paid a $0.135 dividend. This represents a $0.54 dividend on an annualized basis and a yield of 6.50%. The ex-dividend date was Monday, June 30th. LXP Industrial Trust’s payout ratio is 270.00%.

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.