LXP Industrial Trust (NYSE:LXP) Issues Quarterly Earnings Results

LXP Industrial Trust (NYSE:LXP) posted its earnings results on Wednesday. The real estate investment trust reported $0.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.83 by $0.01, Zacks reports. LXP Industrial Trust had a return on equity of 4.80% and a net margin of 27.05%.The firm had revenue of $88.11 million during the quarter, compared to analysts’ expectations of $85.37 million. During the same period in the previous year, the firm earned $0.16 earnings per share. The company’s revenue was up .4% on a year-over-year basis.

LXP Industrial Trust Stock Performance

LXP stock traded down $0.02 during midday trading on Wednesday, reaching $60.83. 135,713 shares of the company were exchanged, compared to its average volume of 584,176. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.21 and a quick ratio of 0.21. The business has a 50-day moving average price of $54.68 and a two-hundred day moving average price of $51.22. LXP Industrial Trust has a one year low of $38.20 and a one year high of $61.61. The firm has a market capitalization of $3.59 billion, a price-to-earnings ratio of 41.10 and a beta of 1.04.

LXP Industrial Trust Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th were issued a dividend of $0.70 per share. The ex-dividend date of this dividend was Tuesday, June 30th. This represents a $2.80 annualized dividend and a yield of 4.6%. LXP Industrial Trust’s dividend payout ratio (DPR) is currently 189.19%.

Hedge Funds Weigh In On LXP Industrial Trust

Several large investors have recently modified their holdings of LXP. Caitong International Asset Management Co. Ltd acquired a new position in LXP Industrial Trust in the 3rd quarter valued at about $26,000. EverSource Wealth Advisors LLC lifted its position in LXP Industrial Trust by 101.7% during the second quarter. EverSource Wealth Advisors LLC now owns 3,481 shares of the real estate investment trust’s stock worth $29,000 after acquiring an additional 1,755 shares during the last quarter. Geneos Wealth Management Inc. lifted its position in LXP Industrial Trust by 82.0% during the second quarter. Geneos Wealth Management Inc. now owns 3,623 shares of the real estate investment trust’s stock worth $30,000 after acquiring an additional 1,632 shares during the last quarter. Corient Private Wealth LLC bought a new stake in shares of LXP Industrial Trust during the second quarter worth approximately $90,000. Finally, CW Advisors LLC acquired a new position in shares of LXP Industrial Trust in the second quarter valued at approximately $112,000. 93.52% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on LXP shares. KeyCorp reissued a “sector weight” rating on shares of LXP Industrial Trust in a research report on Tuesday, June 9th. Wall Street Zen lowered LXP Industrial Trust from a “hold” rating to a “sell” rating in a report on Sunday, July 12th. Raymond James Financial initiated coverage on LXP Industrial Trust in a research note on Wednesday, June 17th. They issued a “market perform” rating for the company. BMO Capital Markets began coverage on LXP Industrial Trust in a research note on Thursday, July 9th. They set an “outperform” rating and a $65.00 price objective on the stock. Finally, Citigroup restated an “outperform” rating on shares of LXP Industrial Trust in a report on Thursday, July 16th. Three investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $55.20.

About LXP Industrial Trust

LXP Industrial Trust is a real estate investment trust that specializes in the ownership, acquisition and management of industrial properties across North America. The company’s portfolio consists of warehouses, distribution centers and manufacturing facilities designed to support supply-chain and logistics operations. By focusing on long-term leasing arrangements, LXP Industrial Trust aims to provide stable income streams while delivering value to tenants through modern, well-positioned industrial space.

The firm’s primary business activities include sourcing and under-writing new property investments, overseeing development and redevelopment projects, and implementing asset-management strategies to enhance the performance of its holdings.