Envestnet Asset Management Inc. Raises Holdings in LXP Industrial Trust (NYSE:LXP)

Envestnet Asset Management Inc. boosted its holdings in shares of LXP Industrial Trust (NYSE:LXP) by 4.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 72,072 shares of the real estate investment trust’s stock after purchasing an additional 3,135 shares during the quarter. Envestnet Asset Management Inc.’s holdings in LXP Industrial Trust were worth $623,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of LXP. EQ Wealth Advisors LLC purchased a new position in LXP Industrial Trust in the 1st quarter valued at $30,000. GF Fund Management CO. LTD. purchased a new position in shares of LXP Industrial Trust during the fourth quarter worth $43,000. Sterling Capital Management LLC raised its position in LXP Industrial Trust by 805.0% in the 4th quarter. Sterling Capital Management LLC now owns 9,159 shares of the real estate investment trust’s stock valued at $74,000 after purchasing an additional 8,147 shares in the last quarter. Townsquare Capital LLC acquired a new stake in LXP Industrial Trust in the 4th quarter valued at about $82,000. Finally, Two Sigma Securities LLC purchased a new stake in LXP Industrial Trust during the 4th quarter worth about $90,000. Hedge funds and other institutional investors own 93.52% of the company’s stock.

LXP Industrial Trust Price Performance

LXP stock opened at $7.86 on Tuesday. LXP Industrial Trust has a 52-week low of $6.85 and a 52-week high of $10.44. The stock’s fifty day simple moving average is $8.42 and its 200-day simple 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 0.18. The stock has a market capitalization of $2.32 billion, a price-to-earnings ratio of 28.05 and a beta of 1.01.

LXP Industrial Trust (NYSE:LXP) last issued its earnings results on Wednesday, July 30th. The real estate investment trust reported $0.16 earnings per share for the quarter, hitting the consensus estimate of $0.16. The business had revenue of $86.74 million for the quarter, compared to analyst estimates of $87.25 million. LXP Industrial Trust had a return on equity of 4.34% and a net margin of 24.07%. The business’s quarterly revenue was up 2.2% on a year-over-year basis. During the same period last year, the company posted $0.16 EPS. Equities research analysts expect that LXP Industrial Trust will post 0.63 EPS for the current year.

LXP Industrial Trust Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th were given a $0.135 dividend. The ex-dividend date of this dividend was Monday, June 30th. This represents a $0.54 annualized dividend and a yield of 6.9%. LXP Industrial Trust’s dividend payout ratio (DPR) is 192.86%.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on LXP. KeyCorp decreased their target price on 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. JMP Securities restated a “market perform” rating on shares of LXP Industrial Trust in a report on Monday, May 5th.

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.