Meritage Portfolio Management Cuts Holdings in LXP Industrial Trust (NYSE:LXP)

Meritage Portfolio Management decreased its position in LXP Industrial Trust (NYSE:LXP) by 7.0% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 395,235 shares of the real estate investment trust’s stock after selling 29,542 shares during the period. Meritage Portfolio Management owned 0.13% of LXP Industrial Trust worth $3,209,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in LXP. abrdn plc grew its holdings in shares of LXP Industrial Trust by 37.0% in the fourth quarter. abrdn plc now owns 82,262 shares of the real estate investment trust’s stock valued at $672,000 after acquiring an additional 22,221 shares in the last quarter. Vert Asset Management LLC boosted its position in LXP Industrial Trust by 8.3% in the fourth quarter. Vert Asset Management LLC now owns 130,062 shares of the real estate investment trust’s stock worth $1,056,000 after purchasing an additional 9,922 shares during the last quarter. KBC Group NV grew its stake in LXP Industrial Trust by 30.6% in the 4th quarter. KBC Group NV now owns 13,283 shares of the real estate investment trust’s stock valued at $108,000 after purchasing an additional 3,113 shares during the period. Blue Trust Inc. increased its position in shares of LXP Industrial Trust by 22.8% during the 4th quarter. Blue Trust Inc. now owns 15,089 shares of the real estate investment trust’s stock valued at $123,000 after purchasing an additional 2,798 shares during the last quarter. Finally, Inspire Investing LLC raised its stake in shares of LXP Industrial Trust by 20.8% during the 4th quarter. Inspire Investing LLC now owns 49,449 shares of the real estate investment trust’s stock worth $402,000 after purchasing an additional 8,513 shares during the period. Hedge funds and other institutional investors own 93.52% of the company’s stock.

LXP Industrial Trust Price Performance

Shares of NYSE LXP opened at $8.36 on Thursday. The stock has a fifty day simple moving average of $8.51 and a two-hundred day simple moving average of $9.37. LXP Industrial Trust has a 1-year low of $7.65 and a 1-year high of $10.56. The firm has a market cap of $2.46 billion, a price-to-earnings ratio of 139.27 and a beta of 0.89. The company has a current ratio of 0.12, a quick ratio of 0.12 and a debt-to-equity ratio of 0.21.

Wall Street Analyst Weigh In

Separately, JMP Securities restated a “market perform” rating on shares of LXP Industrial Trust in a research report on Friday, December 20th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $11.33.

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.