Illinois Municipal Retirement Fund Sells 6,197 Shares of LXP Industrial Trust (NYSE:LXP)

Illinois Municipal Retirement Fund lowered its stake in LXP Industrial Trust (NYSE:LXP) by 3.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 165,337 shares of the real estate investment trust’s stock after selling 6,197 shares during the period. Illinois Municipal Retirement Fund’s holdings in LXP Industrial Trust were worth $1,640,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Adage Capital Partners GP L.L.C. boosted its holdings in shares of LXP Industrial Trust by 180.0% in the 3rd quarter. Adage Capital Partners GP L.L.C. now owns 2,100,000 shares of the real estate investment trust’s stock worth $18,690,000 after purchasing an additional 1,350,000 shares during the period. Picton Mahoney Asset Management bought a new position in LXP Industrial Trust during the third quarter valued at $2,027,000. California Public Employees Retirement System raised its stake in shares of LXP Industrial Trust by 17.9% in the third quarter. California Public Employees Retirement System now owns 1,468,327 shares of the real estate investment trust’s stock valued at $13,068,000 after acquiring an additional 222,726 shares during the period. Manning & Napier Group LLC lifted its holdings in shares of LXP Industrial Trust by 30.3% in the 4th quarter. Manning & Napier Group LLC now owns 774,188 shares of the real estate investment trust’s stock worth $7,680,000 after acquiring an additional 180,204 shares during the last quarter. Finally, International Assets Investment Management LLC boosted its stake in shares of LXP Industrial Trust by 869.1% during the 4th quarter. International Assets Investment Management LLC now owns 177,042 shares of the real estate investment trust’s stock worth $17,847,000 after purchasing an additional 158,774 shares during the period. 93.52% of the stock is owned by institutional investors.

LXP Industrial Trust Price Performance

Shares of LXP stock opened at $8.49 on Friday. The stock has a 50 day moving average price of $8.83 and a 200 day moving average price of $8.92. LXP Industrial Trust has a 52-week low of $7.75 and a 52-week high of $10.75. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.29 and a current ratio of 0.29. The firm has a market capitalization of $2.50 billion, a P/E ratio of 106.08 and a beta of 0.80.

LXP Industrial Trust (NYSE:LXP) last released its earnings results on Thursday, February 15th. The real estate investment trust reported $0.04 earnings per share for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.13). The business had revenue of $83.00 million during the quarter, compared to analysts’ expectations of $83.74 million. LXP Industrial Trust had a return on equity of 1.37% and a net margin of 8.92%. The business’s revenue for the quarter was up 2.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.17 EPS. As a group, sell-side analysts predict that LXP Industrial Trust will post 0.64 earnings per share for the current year.

LXP Industrial Trust Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Thursday, March 28th were issued a dividend of $0.13 per share. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $0.52 dividend on an annualized basis and a yield of 6.13%. LXP Industrial Trust’s payout ratio is 650.08%.

Analysts Set New Price Targets

Separately, StockNews.com raised shares of LXP Industrial Trust from a “sell” rating to a “hold” rating in a research report on Thursday.

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.