LXP Industrial Trust (NYSE:LXP) Shares Break Above Two Hundred Day Moving Average – Here’s What Happened

LXP Industrial Trust (NYSE:LXP) shares passed above its 200-day moving average during trading on Thursday. The stock has a 200-day moving average of $55.47 and traded as high as $61.03. LXP Industrial Trust shares last traded at $61.0150, with a volume of 750,884 shares trading hands.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the stock. Weiss Ratings reissued a “hold (c+)” rating on shares of LXP Industrial Trust in a report on Friday, September 11th. Citizens Jmp lowered shares of LXP Industrial Trust from a “market outperform” rating to a “hold” rating in a research report on Tuesday, July 21st. Raymond James Financial initiated coverage on LXP Industrial Trust in a research report on Wednesday, June 17th. They set a “market perform” rating on the stock. BMO Capital Markets started coverage on LXP Industrial Trust in a research note on Thursday, July 9th. They set an “outperform” rating and a $65.00 price target on the stock. Finally, Jefferies Financial Group cut 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 report on Thursday, August 6th. Two investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat.com, LXP Industrial Trust presently has a consensus rating of “Hold” and a consensus target price of $57.40.

LXP Industrial Trust Price Performance

The company has a quick ratio of 0.10, a current ratio of 0.10 and a debt-to-equity ratio of 0.19. The company’s 50-day moving average is $60.82 and its 200-day moving average is $55.51. The stock has a market cap of $3.59 billion, a price-to-earnings ratio of 60.98 and a beta of 1.02.

LXP Industrial Trust (NYSE:LXP) last released its quarterly earnings data on Wednesday, July 29th. The real estate investment trust reported $0.84 earnings per share for the quarter, beating the consensus estimate 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 company had revenue of $88.11 million for the quarter, compared to analyst estimates of $85.37 million. During the same period in the prior year, the company posted $0.16 EPS. The company’s revenue was up .4% compared to the same quarter last year. Equities research analysts expect that LXP Industrial Trust will post 3.34 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in LXP. Nissay Asset Management Corp Japan grew its position in LXP Industrial Trust by 1.9% during the 2nd quarter. Nissay Asset Management Corp Japan now owns 9,247 shares of the real estate investment trust’s stock worth $498,000 after acquiring an additional 173 shares during the last quarter. Sequoia Financial Advisors LLC boosted its stake in LXP Industrial Trust by 4.4% in the second quarter. Sequoia Financial Advisors LLC now owns 5,344 shares of the real estate investment trust’s stock worth $288,000 after purchasing an additional 224 shares in the last quarter. GAMMA Investing LLC boosted its stake in LXP Industrial Trust by 25.7% in the third quarter. GAMMA Investing LLC now owns 1,881 shares of the real estate investment trust’s stock worth $115,000 after purchasing an additional 385 shares in the last quarter. Farther Finance Advisors LLC grew its holdings in shares of LXP Industrial Trust by 141.9% during the third quarter. Farther Finance Advisors LLC now owns 1,132 shares of the real estate investment trust’s stock worth $69,000 after purchasing an additional 664 shares during the last quarter. Finally, Cetera Investment Advisers increased its stake in shares of LXP Industrial Trust by 5.2% in the first quarter. Cetera Investment Advisers now owns 14,905 shares of the real estate investment trust’s stock valued at $689,000 after buying an additional 743 shares in the last quarter. 93.52% of the stock is owned by institutional investors.

About LXP Industrial Trust

LXP Industrial Trust is a real estate investment trust (REIT) that owns and operates primarily single-tenant industrial properties in the United States. Its portfolio is focused on facilities used for manufacturing, distribution, logistics, and other industrial purposes, which are generally leased to corporate and institutional tenants under long-term agreements.

The company generates rental income through the acquisition, ownership, leasing, and management of industrial real estate. LXP has emphasized expanding its presence in major U.S.