LXP Industrial Trust (NYSE:LXP) Reaches New 1-Year Low – Here’s Why

LXP Industrial Trust (NYSE:LXP)’s share price hit a new 52-week low during trading on Monday . The stock traded as low as $7.42 and last traded at $7.51, with a volume of 164624 shares changing hands. The stock had previously closed at $7.94.

Analyst Upgrades and Downgrades

Separately, JMP Securities reaffirmed a “market perform” rating on shares of LXP Industrial Trust in a report on Friday, February 14th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the stock. According to MarketBeat, LXP Industrial Trust has an average rating of “Hold” and an average target price of $11.33.

LXP Industrial Trust Trading Down 3.2 %

The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.21. The company’s fifty day moving average price is $8.70 and its two-hundred day moving average price is $8.97. The firm has a market cap of $2.27 billion, a PE ratio of 59.05 and a beta of 0.95.

LXP Industrial Trust (NYSE:LXP) last released its quarterly earnings results on Thursday, February 13th. The real estate investment trust reported $0.16 earnings per share for the quarter, topping the consensus estimate of ($0.02) by $0.18. LXP Industrial Trust had a return on equity of 2.15% and a net margin of 12.40%. The company had revenue of $100.85 million during the quarter, compared to the consensus estimate of $84.57 million. As a group, sell-side analysts forecast that LXP Industrial Trust will post 0.63 earnings per share for the current fiscal year.

LXP Industrial Trust Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be paid a $0.135 dividend. This represents a $0.54 dividend on an annualized basis and a yield of 7.03%. The ex-dividend date is Monday, March 31st. LXP Industrial Trust’s payout ratio is 415.38%.

Hedge Funds Weigh In On LXP Industrial Trust

A number of hedge funds have recently modified their holdings of LXP. BNP Paribas Financial Markets lifted its position in shares of LXP Industrial Trust by 44.4% in the third quarter. BNP Paribas Financial Markets now owns 199,612 shares of the real estate investment trust’s stock worth $2,006,000 after buying an additional 61,387 shares during the last quarter. Paloma Partners Management Co acquired a new position in LXP Industrial Trust during the 3rd quarter worth $177,000. HighTower Advisors LLC boosted its stake in shares of LXP Industrial Trust by 2.6% in the 3rd quarter. HighTower Advisors LLC now owns 52,755 shares of the real estate investment trust’s stock valued at $530,000 after purchasing an additional 1,333 shares during the last quarter. Jacobs Levy Equity Management Inc. grew its holdings in LXP Industrial Trust by 6.8% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 55,731 shares of the real estate investment trust’s stock worth $560,000 after acquiring an additional 3,544 shares during the period. Finally, Weiss Asset Management LP acquired a new position in shares of LXP Industrial Trust during the 3rd quarter worth about $760,000. 93.52% of the stock is currently owned by institutional investors and hedge funds.

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.