Concurrent Investment Advisors LLC Buys New Stake in LXP Industrial Trust $LXP

Concurrent Investment Advisors LLC purchased a new position in LXP Industrial Trust (NYSE:LXP) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 30,433 shares of the real estate investment trust’s stock, valued at approximately $251,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in LXP. Centersquare Investment Management LLC raised its holdings in shares of LXP Industrial Trust by 1,103.9% in the first quarter. Centersquare Investment Management LLC now owns 4,271,470 shares of the real estate investment trust’s stock worth $36,948,000 after buying an additional 3,916,670 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. raised its holdings in shares of 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 buying an additional 1,733,329 shares during the last quarter. Jane Street Group LLC raised its holdings in shares of LXP Industrial Trust by 6,092.1% in the first quarter. Jane Street Group LLC now owns 948,134 shares of the real estate investment trust’s stock worth $8,201,000 after buying an additional 932,822 shares during the last quarter. Cubist Systematic Strategies LLC raised its holdings in shares of LXP Industrial Trust by 153.3% in the first quarter. Cubist Systematic Strategies LLC now owns 967,450 shares of the real estate investment trust’s stock worth $8,368,000 after buying an additional 585,528 shares during the last quarter. Finally, Allianz Asset Management GmbH purchased a new position in shares of LXP Industrial Trust in the first quarter worth $4,263,000. Hedge funds and other institutional investors own 93.52% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have issued reports on LXP shares. Weiss Ratings reaffirmed a “hold (c)” rating on shares of LXP Industrial Trust in a report on Wednesday, October 8th. Evercore ISI raised their price target on shares of LXP Industrial Trust from $10.00 to $11.00 and gave the stock an “in-line” rating in a report on Monday, October 6th. Finally, Wolfe Research started coverage on shares of LXP Industrial Trust in a research note on Friday, August 22nd. They issued an “outperform” rating and a $10.00 price objective on the stock. Two research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $10.33.

LXP Industrial Trust Stock Up 2.5%

NYSE:LXP opened at $9.71 on Tuesday. The firm has a market capitalization of $2.87 billion, a P/E ratio of 34.66 and a beta of 1.05. 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 company’s fifty day moving average price is $9.02 and its 200-day moving average price is $8.48. LXP Industrial Trust has a 1-year low of $6.85 and a 1-year high of $9.95.

LXP Industrial Trust (NYSE:LXP) last released its quarterly earnings results on Wednesday, July 30th. The real estate investment trust reported $0.16 EPS for the quarter, meeting the consensus estimate of $0.16. The company had revenue of $86.74 million for the quarter, compared to analyst estimates of $87.25 million. LXP Industrial Trust had a net margin of 24.07% and a return on equity of 4.34%. The firm’s revenue was up 2.2% on a year-over-year basis. During the same quarter last year, the business earned $0.16 earnings per share. LXP Industrial Trust has set its FY 2025 guidance at 0.620-0.640 EPS. As a group, equities research analysts anticipate that LXP Industrial Trust will post 0.63 EPS for the current year.

LXP Industrial Trust Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, October 15th. Investors of record on Tuesday, September 30th were given a dividend of $0.135 per share. This represents a $0.54 annualized dividend and a yield of 5.6%. The ex-dividend date was Tuesday, September 30th. LXP Industrial Trust’s dividend payout ratio (DPR) is currently 192.86%.

LXP Industrial Trust 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.