Sumitomo Mitsui Trust Group Inc. Raises Stock Holdings in LXP Industrial Trust $LXP

Sumitomo Mitsui Trust Group Inc. lifted its holdings in shares of LXP Industrial Trust (NYSE:LXP) by 12.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,456,385 shares of the real estate investment trust’s stock after purchasing an additional 619,642 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned 1.84% of LXP Industrial Trust worth $45,070,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Centersquare Investment Management LLC lifted its position in LXP Industrial Trust by 1,103.9% in the 1st quarter. Centersquare Investment Management LLC now owns 4,271,470 shares of the real estate investment trust’s stock worth $36,948,000 after buying an additional 3,916,670 shares during the last quarter. Jane Street Group LLC lifted its position 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 last quarter. Cubist Systematic Strategies LLC lifted its position in LXP Industrial Trust by 153.3% in the 1st quarter. Cubist Systematic Strategies LLC now owns 967,450 shares of the real estate investment trust’s stock worth $8,368,000 after buying an additional 585,528 shares during the last quarter. Allianz Asset Management GmbH bought a new stake in LXP Industrial Trust in the 1st quarter worth approximately $4,263,000. Finally, Goldman Sachs Group Inc. lifted its position in LXP Industrial Trust by 14.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 3,717,830 shares of the real estate investment trust’s stock worth $32,159,000 after buying an additional 458,195 shares during the last quarter. Hedge funds and other institutional investors own 93.52% of the company’s stock.

LXP Industrial Trust Stock Down 0.3%

Shares of LXP Industrial Trust stock opened at $9.53 on Tuesday. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.13 and a current ratio of 0.13. LXP Industrial Trust has a 52-week low of $6.85 and a 52-week high of $9.95. The stock has a market capitalization of $2.82 billion, a price-to-earnings ratio of 34.02 and a beta of 1.05. The company’s 50 day moving average price is $9.15 and its 200-day moving average price is $8.55.

LXP Industrial Trust (NYSE:LXP) last announced its earnings results on Wednesday, July 30th. The real estate investment trust reported $0.16 EPS for the quarter, meeting analysts’ consensus estimates of $0.16. The company had revenue of $86.74 million during 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 firm’s revenue for the quarter was up 2.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.16 earnings per share. LXP Industrial Trust has set its FY 2025 guidance at 0.620-0.640 EPS. Equities research analysts forecast that LXP Industrial Trust will post 0.63 EPS for the current year.

LXP Industrial Trust Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 15th. Shareholders of record on Tuesday, September 30th were issued a $0.135 dividend. The ex-dividend date was Tuesday, September 30th. This represents a $0.54 dividend on an annualized basis and a yield of 5.7%. LXP Industrial Trust’s dividend payout ratio is 192.86%.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on LXP. Evercore ISI boosted 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 restated a “hold (c)” rating on shares of LXP Industrial Trust in a research report on Wednesday, October 8th. Finally, Wolfe Research began coverage on LXP Industrial Trust in a research report on Friday, August 22nd. They issued an “outperform” rating and a $10.00 price objective for the company. Two equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, LXP Industrial Trust has a consensus 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.