LXP Industrial Trust (NYSE:LXP) Shares to Reverse Split on Monday, November 10th

LXP Industrial Trust (NYSE:LXP)’s stock is going to reverse split on Monday, November 10th. The 1-5 reverse split was announced on Thursday, October 30th. The number of shares owned by shareholders will be adjusted after the market closes on Friday, November 7th.

LXP Industrial Trust Trading Down 2.2%

Shares of LXP Industrial Trust stock opened at $9.53 on Friday. The business has a fifty day simple moving average of $9.22 and a 200-day simple moving average of $8.61. 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 fifty-two week low of $6.85 and a fifty-two week high of $9.95. The firm has a market cap of $2.82 billion, a price-to-earnings ratio of 34.02 and a beta of 1.05.

LXP Industrial Trust (NYSE:LXP) last announced its quarterly earnings data on Thursday, October 30th. The real estate investment trust reported $0.16 EPS for the quarter, hitting 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 $85.81 million during the quarter, compared to the consensus estimate of $87.03 million. During the same quarter last year, the company earned $0.16 EPS. The company’s quarterly revenue was up 1.4% on a year-over-year basis. LXP Industrial Trust has set its FY 2025 guidance at 0.630-0.640 EPS. On average, equities analysts forecast that LXP Industrial Trust will post 0.63 EPS for the current fiscal year.

LXP Industrial Trust Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 17th. Shareholders of record on Friday, January 30th will be given a $0.8125 dividend. The ex-dividend date is Friday, January 30th. This represents a $3.25 dividend on an annualized basis and a dividend yield of 34.1%. This is an increase from LXP Industrial Trust’s previous quarterly dividend of $0.14. LXP Industrial Trust’s dividend payout ratio is 192.86%.

Analysts Set New Price Targets

A number of analysts have commented on LXP shares. Citigroup upgraded LXP Industrial Trust to an “outperform” rating in a research report on Tuesday. Wolfe Research started coverage on LXP Industrial Trust in a research 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 research report on Wednesday, October 8th. JMP Securities set a $11.50 target price on LXP Industrial Trust and gave the stock a “market outperform” rating in a research report on Tuesday. Finally, Evercore ISI raised their target price on LXP Industrial Trust from $10.00 to $11.00 and gave the stock an “in-line” rating in a research report on Monday, October 6th. Five research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $10.80.

Institutional Investors Weigh In On LXP Industrial Trust

Hedge funds and other institutional investors have recently bought and sold shares of the business. Signaturefd LLC increased its holdings in LXP Industrial Trust by 678.3% during the 1st quarter. Signaturefd LLC now owns 6,281 shares of the real estate investment trust’s stock valued at $54,000 after purchasing an additional 5,474 shares in the last quarter. Principal Financial Group Inc. increased its holdings in LXP Industrial Trust by 3.1% during the 1st quarter. Principal Financial Group Inc. now owns 1,472,285 shares of the real estate investment trust’s stock valued at $12,735,000 after purchasing an additional 44,233 shares in the last quarter. Allspring Global Investments Holdings LLC increased its holdings in LXP Industrial Trust by 33.1% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 27,319 shares of the real estate investment trust’s stock valued at $236,000 after purchasing an additional 6,800 shares in the last quarter. Teacher Retirement System of Texas increased its holdings in LXP Industrial Trust by 102.0% during the 1st quarter. Teacher Retirement System of Texas now owns 135,450 shares of the real estate investment trust’s stock valued at $1,172,000 after purchasing an additional 68,399 shares in the last quarter. Finally, M&T Bank Corp increased its holdings in LXP Industrial Trust by 4.3% during the 1st quarter. M&T Bank Corp now owns 40,529 shares of the real estate investment trust’s stock valued at $351,000 after purchasing an additional 1,660 shares in the last quarter. 93.52% of the stock is owned by institutional investors and hedge funds.

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.