VIRGINIA RETIREMENT SYSTEMS ET Al Makes New $5.85 Million Investment in LXP Industrial Trust $LXP

VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in LXP Industrial Trust (NYSE:LXP) in the 2nd quarter, HoldingsChannel.com reports. The institutional investor purchased 108,650 shares of the real estate investment trust’s stock, valued at approximately $5,854,000.

A number of other large investors have also modified their holdings of LXP. Caitong International Asset Management Co. Ltd acquired a new position in shares of LXP Industrial Trust during the third quarter valued at about $26,000. EverSource Wealth Advisors LLC boosted its stake in LXP Industrial Trust by 101.7% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 3,481 shares of the real estate investment trust’s stock worth $29,000 after purchasing an additional 1,755 shares in the last quarter. Geneos Wealth Management Inc. boosted its stake in LXP Industrial Trust by 82.0% in the 2nd quarter. Geneos Wealth Management Inc. now owns 3,623 shares of the real estate investment trust’s stock worth $30,000 after purchasing an additional 1,632 shares in the last quarter. IFP Advisors Inc boosted its stake in LXP Industrial Trust by 63.8% in the 4th quarter. IFP Advisors Inc now owns 837 shares of the real estate investment trust’s stock worth $41,000 after purchasing an additional 326 shares in the last quarter. Finally, Allworth Financial LP purchased a new stake in LXP Industrial Trust during the 2nd quarter worth approximately $78,000. Hedge funds and other institutional investors own 93.52% of the company’s stock.

Wall Street Analyst Weigh In

LXP has been the topic of a number of recent analyst reports. Jefferies Financial Group lowered shares of LXP Industrial Trust from a “buy” rating to a “hold” rating and cut their price target for the company from $62.00 to $61.00 in a research note on Thursday, August 6th. Evercore set a $54.00 price objective on shares of LXP Industrial Trust in a research note on Monday, June 8th. Raymond James Financial started coverage on shares of LXP Industrial Trust in a report on Wednesday, June 17th. They set a “market perform” rating on the stock. Wall Street Zen downgraded LXP Industrial Trust from a “hold” rating to a “sell” rating in a research report on Sunday, July 12th. Finally, Citizens Jmp downgraded LXP Industrial Trust from a “market outperform” rating to a “hold” rating in a research report on Tuesday, July 21st. Two investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $57.40.

LXP Industrial Trust Trading Down 0.0%

LXP Industrial Trust stock opened at $60.77 on Wednesday. The company has a quick ratio of 0.10, a current ratio of 0.10 and a debt-to-equity ratio of 0.19. LXP Industrial Trust has a 52 week low of $43.97 and a 52 week high of $61.61. The company has a market capitalization of $3.58 billion, a price-to-earnings ratio of 60.77 and a beta of 1.02. The stock has a 50-day moving average price of $59.47 and a 200 day moving average price of $53.51.

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

LXP Industrial Trust Dividend Announcement

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