Meritage Portfolio Management Has $4.75 Million Stock Holdings in LXP Industrial Trust (NYSE:LXP)

Meritage Portfolio Management grew its holdings in LXP Industrial Trust (NYSE:LXP) by 45.4% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 478,491 shares of the real estate investment trust’s stock after buying an additional 149,373 shares during the quarter. Meritage Portfolio Management’s holdings in LXP Industrial Trust were worth $4,747,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. CWM LLC raised its stake in shares of LXP Industrial Trust by 65.1% in the 4th quarter. CWM LLC now owns 3,298 shares of the real estate investment trust’s stock valued at $33,000 after buying an additional 1,300 shares in the last quarter. LFA Lugano Financial Advisors SA bought a new stake in shares of LXP Industrial Trust in the 3rd quarter worth about $57,000. First Trust Direct Indexing L.P. bought a new stake in shares of LXP Industrial Trust in the 3rd quarter worth about $90,000. Sherbrooke Park Advisers LLC bought a new stake in shares of LXP Industrial Trust in the 3rd quarter worth about $90,000. Finally, Raymond James Financial Services Advisors Inc. bought a new stake in shares of LXP Industrial Trust in the 4th quarter worth about $112,000. Institutional investors and hedge funds own 93.52% of the company’s stock.

Wall Street Analyst Weigh In

Separately, StockNews.com raised shares of LXP Industrial Trust from a “sell” rating to a “hold” rating in a report on Thursday.

LXP Industrial Trust Trading Down 1.1 %

Shares of NYSE LXP traded down $0.09 during mid-day trading on Thursday, hitting $8.45. The company’s stock had a trading volume of 5,390,968 shares, compared to its average volume of 2,401,027. The stock has a market cap of $2.49 billion, a price-to-earnings ratio of 106.70 and a beta of 0.80. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.29 and a quick ratio of 0.29. LXP Industrial Trust has a one year low of $7.75 and a one year high of $10.75. The company’s fifty day simple moving average is $8.84 and its 200-day simple moving average is $8.92.

LXP Industrial Trust (NYSE:LXP) last issued its earnings results on Thursday, February 15th. The real estate investment trust reported $0.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.17 by ($0.13). The business had revenue of $83.00 million during the quarter, compared to the consensus estimate of $83.74 million. LXP Industrial Trust had a net margin of 8.92% and a return on equity of 1.37%. The firm’s revenue for the quarter was up 2.3% compared to the same quarter last year. During the same period last year, the business posted $0.17 EPS. On average, sell-side analysts anticipate that LXP Industrial Trust will post 0.64 earnings per share for the current fiscal year.

LXP Industrial Trust Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Thursday, March 28th were paid a $0.13 dividend. This represents a $0.52 annualized dividend and a dividend yield of 6.15%. The ex-dividend date was Wednesday, March 27th. LXP Industrial Trust’s dividend payout ratio (DPR) is presently 650.08%.

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.