Wellington Management Group LLP Lowers Stock Position in LXP Industrial Trust $LXP

Wellington Management Group LLP cut its stake in shares of LXP Industrial Trust (NYSE:LXP) by 18.8% in the second quarter, HoldingsChannel reports. The fund owned 413,830 shares of the real estate investment trust’s stock after selling 96,055 shares during the period. Wellington Management Group LLP’s holdings in LXP Industrial Trust were worth $22,297,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Balyasny Asset Management L.P. raised its stake in LXP Industrial Trust by 269.0% during the 2nd quarter. Balyasny Asset Management L.P. now owns 6,432,356 shares of the real estate investment trust’s stock worth $53,131,000 after acquiring an additional 4,688,972 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in shares of LXP Industrial Trust by 468.5% in the third quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,057,488 shares of the real estate investment trust’s stock worth $18,435,000 after purchasing an additional 1,695,558 shares in the last quarter. Qube Research & Technologies Ltd raised its position in shares of LXP Industrial Trust by 359.3% during the 2nd quarter. Qube Research & Technologies Ltd now owns 1,918,740 shares of the real estate investment trust’s stock valued at $15,849,000 after purchasing an additional 1,501,010 shares during the period. Norges Bank purchased a new position in shares of LXP Industrial Trust during the 4th quarter valued at $59,953,000. Finally, Jane Street Group LLC boosted its holdings in LXP Industrial Trust by 6,092.1% in the 1st quarter. Jane Street Group LLC now owns 948,134 shares of the real estate investment trust’s stock worth $8,201,000 after buying an additional 932,822 shares during the period. 93.52% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have commented on LXP. KeyCorp reissued a “sector weight” rating on shares of LXP Industrial Trust in a report on Tuesday, June 9th. BMO Capital Markets started coverage on LXP Industrial Trust in a research report on Thursday, July 9th. They set an “outperform” rating and a $65.00 target price for the company. Jefferies Financial Group downgraded LXP Industrial Trust from a “buy” rating to a “hold” rating and decreased their target price for the company from $62.00 to $61.00 in a research note on Thursday, August 6th. Wall Street Zen downgraded LXP Industrial Trust from a “hold” rating to a “sell” rating in a research note on Sunday, July 12th. Finally, Citigroup reaffirmed an “outperform” rating on shares of LXP Industrial Trust in a report on Thursday, July 16th. Two research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $57.40.

LXP Industrial Trust Stock Performance

Shares of NYSE LXP opened at $60.80 on Friday. The company has a market cap of $3.58 billion, a P/E ratio of 60.80 and a beta of 1.02. LXP Industrial Trust has a 52-week low of $43.97 and a 52-week high of $61.61. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.10 and a current ratio of 0.10. The firm’s fifty day moving average is $59.22 and its two-hundred day moving average is $53.30.

LXP Industrial Trust (NYSE:LXP) last released its quarterly earnings data on Wednesday, July 29th. The real estate investment trust reported $0.84 EPS for the quarter, beating the consensus estimate of $0.83 by $0.01. The business had revenue of $88.11 million during the quarter, compared to the consensus estimate of $85.37 million. LXP Industrial Trust had a net margin of 18.66% and a return on equity of 3.37%. The business’s revenue was up .4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.16 EPS. As a group, analysts anticipate that LXP Industrial Trust will post 3.35 EPS for the current fiscal year.

LXP Industrial Trust Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th were paid a dividend of $0.70 per share. The ex-dividend date of this dividend was Tuesday, June 30th. This represents a $2.80 dividend on an annualized basis and a yield of 4.6%. LXP Industrial Trust’s dividend payout ratio is presently 280.00%.

LXP Industrial Trust Company Profile

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.