Balyasny Asset Management L.P. Acquires 1,813,280 Shares of LXP Industrial Trust (NYSE:LXP)

Balyasny Asset Management L.P. lifted its stake in LXP Industrial Trust (NYSE:LXP - Free Report) by 514.9% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 2,165,475 shares of the real estate investment trust's stock after purchasing an additional 1,813,280 shares during the quarter. Balyasny Asset Management L.P. owned 0.74% of LXP Industrial Trust worth $17,584,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Norges Bank acquired a new stake in LXP Industrial Trust during the 4th quarter worth about $40,114,000. Aew Capital Management L P boosted its position in LXP Industrial Trust by 72.5% during the 4th quarter. Aew Capital Management L P now owns 5,815,781 shares of the real estate investment trust's stock worth $47,224,000 after acquiring an additional 2,445,084 shares during the period. Evergreen Capital Management LLC boosted its position in LXP Industrial Trust by 1,993.3% during the 4th quarter. Evergreen Capital Management LLC now owns 902,167 shares of the real estate investment trust's stock worth $7,447,000 after acquiring an additional 859,069 shares during the period. Sei Investments Co. boosted its position in LXP Industrial Trust by 113.7% during the 4th quarter. Sei Investments Co. now owns 1,555,297 shares of the real estate investment trust's stock worth $12,629,000 after acquiring an additional 827,657 shares during the period. Finally, Adage Capital Partners GP L.L.C. boosted its position in LXP Industrial Trust by 60.9% during the 4th quarter. Adage Capital Partners GP L.L.C. now owns 1,850,000 shares of the real estate investment trust's stock worth $15,022,000 after acquiring an additional 700,000 shares during the period. Institutional investors and hedge funds own 93.52% of the company's stock.

LXP Industrial Trust Stock Down 1.0%

Shares of LXP Industrial Trust stock traded down $0.08 during trading on Tuesday, hitting $8.31. 840,020 shares of the stock traded hands, compared to its average volume of 2,223,800. The stock has a market cap of $2.46 billion, a P/E ratio of 63.93 and a beta of 1.02. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.16 and a current ratio of 0.16. LXP Industrial Trust has a twelve month low of $6.85 and a twelve month high of $10.57. The company has a fifty day moving average price of $8.27 and a two-hundred day moving average price of $8.58.

LXP Industrial Trust (NYSE:LXP - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The real estate investment trust reported $0.16 earnings per share for the quarter, meeting analysts' consensus estimates of $0.16. LXP Industrial Trust had a return on equity of 2.15% and a net margin of 12.40%. The business had revenue of $87.89 million for the quarter, compared to the consensus estimate of $84.72 million. During the same period last year, the business earned $0.16 EPS. The firm's revenue was up 3.0% compared to the same quarter last year. Equities research analysts predict that LXP Industrial Trust will post 0.63 EPS for the current fiscal year.

LXP Industrial Trust Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 31st were paid a $0.135 dividend. This represents a $0.54 dividend on an annualized basis and a dividend yield of 6.50%. The ex-dividend date of this dividend was Monday, March 31st. LXP Industrial Trust's payout ratio is 270.00%.

Analyst Upgrades and Downgrades

A number of brokerages have commented on LXP. KeyCorp lowered their target price on LXP Industrial Trust from $11.00 to $10.00 and set an "overweight" rating on the stock in a research note on Friday, May 2nd. JMP Securities reiterated a "market perform" rating on shares of LXP Industrial Trust in a report on Monday, May 5th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $11.00.

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.