PNC Financial Services Group Inc. Increases Stock Holdings in LXP Industrial Trust (NYSE:LXP)

PNC Financial Services Group Inc. grew its position in LXP Industrial Trust (NYSE:LXP) by 3.4% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 47,880 shares of the real estate investment trust’s stock after acquiring an additional 1,574 shares during the quarter. PNC Financial Services Group Inc.’s holdings in LXP Industrial Trust were worth $414,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of LXP. EQ Wealth Advisors LLC acquired a new stake in shares of LXP Industrial Trust in the first quarter valued at approximately $30,000. GF Fund Management CO. LTD. acquired a new stake in shares of LXP Industrial Trust in the fourth quarter valued at approximately $43,000. Signaturefd LLC boosted its holdings in shares of LXP Industrial Trust by 678.3% in the first quarter. Signaturefd LLC now owns 6,281 shares of the real estate investment trust’s stock valued at $54,000 after acquiring an additional 5,474 shares during the period. Sterling Capital Management LLC boosted its holdings in shares of LXP Industrial Trust by 805.0% in the fourth quarter. Sterling Capital Management LLC now owns 9,159 shares of the real estate investment trust’s stock valued at $74,000 after acquiring an additional 8,147 shares during the period. Finally, Townsquare Capital LLC acquired a new stake in shares of LXP Industrial Trust in the fourth quarter valued at approximately $82,000. 93.52% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. KeyCorp decreased their price objective on LXP Industrial Trust from $11.00 to $10.00 and set an “overweight” rating for the company in a report on Friday, May 2nd. JMP Securities reissued a “market perform” rating on shares of LXP Industrial Trust in a report on Monday, May 5th.

LXP Industrial Trust Price Performance

Shares of NYSE LXP opened at $8.24 on Friday. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.13 and a quick ratio of 0.13. The stock has a fifty day moving average price of $8.33 and a 200 day moving average price of $8.37. LXP Industrial Trust has a 1-year low of $6.85 and a 1-year high of $10.44. The company has a market cap of $2.44 billion, a PE ratio of 29.41 and a beta of 1.01.

LXP Industrial Trust (NYSE:LXP) last released its earnings results on Wednesday, July 30th. The real estate investment trust reported $0.16 EPS for the quarter, meeting analysts’ consensus estimates of $0.16. LXP Industrial Trust had a return on equity of 4.34% and a net margin of 24.07%. The company had revenue of $86.74 million during the quarter, compared to the consensus estimate of $87.25 million. During the same quarter last year, the company earned $0.16 earnings per share. LXP Industrial Trust’s quarterly revenue was up 2.2% compared to the same quarter last year. Sell-side analysts forecast that LXP Industrial Trust will post 0.63 EPS for the current year.

LXP Industrial Trust Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th were given a $0.135 dividend. The ex-dividend date was Monday, June 30th. This represents a $0.54 dividend on an annualized basis and a dividend yield of 6.6%. LXP Industrial Trust’s dividend payout ratio (DPR) is currently 192.86%.

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.