LXP Industrial Trust (NYSE:LXP) Upgraded by Citizens Jmp to Outperform Rating

Citizens Jmp upgraded shares of LXP Industrial Trust (NYSE:LXP) from a market perform rating to an outperform rating in a report issued on Tuesday, Marketbeat reports. The brokerage currently has $11.50 price objective on the real estate investment trust’s stock.

A number of other equities research analysts also recently commented on LXP. Evercore ISI upped their price objective on LXP Industrial Trust from $10.00 to $11.00 and gave the company an “in-line” rating in a report on Monday, October 6th. Citigroup upgraded LXP Industrial Trust to an “outperform” rating in a report on Tuesday. Wolfe Research assumed coverage on LXP Industrial Trust in a report on Friday, August 22nd. They issued an “outperform” rating and a $10.00 price objective for the company. Weiss Ratings reiterated a “hold (c)” rating on shares of LXP Industrial Trust in a report on Wednesday, October 8th. Finally, JMP Securities set a $11.50 price objective on LXP Industrial Trust and gave the company a “market outperform” rating in a report on Tuesday. Five equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, LXP Industrial Trust has a consensus rating of “Moderate Buy” and a consensus target price of $10.80.

LXP Industrial Trust Trading Up 0.2%

Shares of LXP opened at $9.54 on Tuesday. The company has a quick ratio of 0.13, a current ratio of 0.13 and a debt-to-equity ratio of 0.18. LXP Industrial Trust has a 12-month low of $6.85 and a 12-month high of $9.95. The firm has a market capitalization of $2.82 billion, a PE ratio of 34.05 and a beta of 1.05. The stock’s fifty day simple moving average is $9.17 and its 200-day simple moving average is $8.57.

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

LXP Industrial Trust Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 15th. Shareholders of record on Tuesday, September 30th were issued a $0.135 dividend. This represents a $0.54 annualized dividend and a dividend yield of 5.7%. The ex-dividend date was Tuesday, September 30th. LXP Industrial Trust’s dividend payout ratio is 192.86%.

Institutional Investors Weigh In On LXP Industrial Trust

Several large investors have recently modified their holdings of LXP. Bessemer Group Inc. increased its holdings in shares of LXP Industrial Trust by 3,263.1% in the first quarter. Bessemer Group Inc. now owns 20,246 shares of the real estate investment trust’s stock worth $175,000 after acquiring an additional 19,644 shares in the last quarter. Diversified Trust Co boosted its position in shares of LXP Industrial Trust by 6.9% during the first quarter. Diversified Trust Co now owns 32,414 shares of the real estate investment trust’s stock worth $280,000 after buying an additional 2,103 shares during the period. Allspring Global Investments Holdings LLC boosted its position in shares of LXP Industrial Trust by 33.1% during the first quarter. Allspring Global Investments Holdings LLC now owns 27,319 shares of the real estate investment trust’s stock worth $236,000 after buying an additional 6,800 shares during the period. Sumitomo Mitsui Trust Group Inc. boosted its position in shares of LXP Industrial Trust by 55.9% during 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 period. Finally, New York State Teachers Retirement System boosted its position in shares of LXP Industrial Trust by 0.8% during the first quarter. New York State Teachers Retirement System now owns 366,297 shares of the real estate investment trust’s stock worth $3,168,000 after buying an additional 2,767 shares during the period. 93.52% of the stock is currently owned by institutional investors.

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.