M&T Bank Corp Has $351,000 Stock Holdings in LXP Industrial Trust (NYSE:LXP)

M&T Bank Corp grew its holdings in LXP Industrial Trust (NYSE:LXP) by 4.3% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 40,529 shares of the real estate investment trust’s stock after purchasing an additional 1,660 shares during the quarter. M&T Bank Corp’s holdings in LXP Industrial Trust were worth $351,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Proficio Capital Partners LLC acquired a new position in shares of LXP Industrial Trust in the fourth quarter valued at approximately $83,000. Raymond James Financial Inc. acquired a new stake in LXP Industrial Trust during the fourth quarter worth approximately $359,000. PNC Financial Services Group Inc. grew its stake in shares of LXP Industrial Trust by 25.0% in the fourth quarter. PNC Financial Services Group Inc. now owns 46,306 shares of the real estate investment trust’s stock valued at $376,000 after acquiring an additional 9,266 shares in the last quarter. Sequoia Financial Advisors LLC bought a new stake in LXP Industrial Trust in the 4th quarter valued at about $92,000. Finally, Avantax Advisory Services Inc. grew its position in LXP Industrial Trust by 44.8% during the fourth quarter. Avantax Advisory Services Inc. now owns 24,608 shares of the real estate investment trust’s stock worth $200,000 after buying an additional 7,610 shares in the last quarter. Institutional investors and hedge funds own 93.52% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on LXP. JMP Securities reiterated a “market perform” rating on shares of LXP Industrial Trust in a research note on Monday, May 5th. KeyCorp lowered their price target on shares of LXP Industrial Trust from $11.00 to $10.00 and set an “overweight” rating for the company in a report on Friday, May 2nd.

LXP Industrial Trust Trading Down 1.4%

Shares of LXP stock opened at $8.31 on Friday. LXP Industrial Trust has a 12-month low of $6.85 and a 12-month high of $10.57. The company has a 50 day moving average of $8.47 and a 200-day moving average of $8.38. The firm has a market cap of $2.46 billion, a P/E ratio of 41.56 and a beta of 1.03. 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 (NYSE:LXP) last issued its quarterly earnings data on Thursday, May 1st. The real estate investment trust reported $0.16 EPS for the quarter, hitting the consensus estimate of $0.16. LXP Industrial Trust had a return on equity of 3.13% and a net margin of 17.63%. The company had revenue of $87.89 million during the quarter, compared to analyst estimates of $84.72 million. During the same quarter in the previous year, the firm earned $0.16 earnings per share. LXP Industrial Trust’s revenue was up 3.0% on a year-over-year basis. Sell-side analysts anticipate that LXP Industrial Trust will post 0.63 earnings per share for the current year.

LXP Industrial Trust Announces Dividend

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