Meritage Portfolio Management Has $3.10 Million Position in LXP Industrial Trust $LXP

Meritage Portfolio Management reduced its holdings in LXP Industrial Trust (NYSE:LXP) by 2.6% during the 2nd quarter, HoldingsChannel reports. The firm owned 375,692 shares of the real estate investment trust’s stock after selling 9,997 shares during the quarter. Meritage Portfolio Management’s holdings in LXP Industrial Trust were worth $3,103,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently made changes to their positions in LXP. GAMMA Investing LLC grew its position in shares of LXP Industrial Trust by 841.6% in the first quarter. GAMMA Investing LLC now owns 22,231 shares of the real estate investment trust’s stock valued at $192,000 after purchasing an additional 19,870 shares during the last quarter. SG Americas Securities LLC acquired a new stake in LXP Industrial Trust during the first quarter worth about $1,138,000. Shikiar Asset Management Inc. grew its position in LXP Industrial Trust by 22.2% during the first quarter. Shikiar Asset Management Inc. now owns 317,250 shares of the real estate investment trust’s stock worth $2,744,000 after buying an additional 57,550 shares in the last quarter. QRG Capital Management Inc. grew its position in LXP Industrial Trust by 28.4% during the first quarter. QRG Capital Management Inc. now owns 47,307 shares of the real estate investment trust’s stock worth $409,000 after buying an additional 10,459 shares in the last quarter. Finally, EQ Wealth Advisors LLC acquired a new stake in LXP Industrial Trust during the first quarter worth about $30,000. 93.52% of the stock is owned by institutional investors and hedge funds.

LXP Industrial Trust Stock Down 1.8%

NYSE LXP opened at $8.81 on Monday. The company has a current ratio of 0.13, a quick ratio of 0.13 and a debt-to-equity ratio of 0.18. The stock’s 50 day moving average is $8.86 and its two-hundred day moving average is $8.45. The company has a market capitalization of $2.61 billion, a price-to-earnings ratio of 31.46 and a beta of 1.05. LXP Industrial Trust has a 1-year low of $6.85 and a 1-year high of $9.95.

LXP Industrial Trust (NYSE:LXP) last released its quarterly earnings data on Wednesday, July 30th. The real estate investment trust reported $0.16 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.16. The company had revenue of $86.74 million for the quarter, compared to the consensus estimate of $87.25 million. LXP Industrial Trust had a return on equity of 4.34% and a net margin of 24.07%.The company’s quarterly revenue was up 2.2% on a year-over-year basis. During the same period in the previous year, the business earned $0.16 earnings per share. LXP Industrial Trust has set its FY 2025 guidance at 0.620-0.640 EPS. Equities 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 disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Tuesday, September 30th will be issued a dividend of $0.135 per share. This represents a $0.54 dividend on an annualized basis and a yield of 6.1%. The ex-dividend date of this dividend is Tuesday, September 30th. LXP Industrial Trust’s payout ratio is presently 192.86%.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the company. Evercore ISI lifted 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. Weiss Ratings reissued a “hold (c)” rating on shares of LXP Industrial Trust in a research report on Wednesday, October 8th. Finally, Wolfe Research assumed coverage on LXP Industrial Trust in a research report on Friday, August 22nd. They set an “outperform” rating and a $10.00 target price on the stock. Two research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $10.33.

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.