LXP Industrial Trust (NYSE:LXP) Given Average Recommendation of "Hold" by Analysts

Key Points

• Analysts rate LXP Industrial Trust “Hold” on average: Seven of nine analysts recommend holding the stock, while two recommend buying it. The consensus 12-month price target is $57.40.
• LXP shares were trading near their 12-month high at $60.86, compared with a range of $43.97 to $61.61, and had a $3.59 billion market capitalization.
• The REIT slightly exceeded quarterly expectations, reporting adjusted earnings of $0.84 per share versus the $0.83 estimate and revenue of $88.11 million versus $85.37 million expected. Institutional investors own 93.52% of the company.

Shares of LXP Industrial Trust (NYSE:LXP - Get Free Report) have earned a consensus rating of "Hold" from the nine research firms that are presently covering the company, Marketbeat.com reports. Seven equities research analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average 1-year price objective among analysts that have covered the stock in the last year is $57.40.

Several brokerages have issued reports on LXP. Citizens Jmp lowered LXP Industrial Trust from a "market outperform" rating to a "hold" rating in a research report on Tuesday, July 21st. Raymond James Financial began coverage on LXP Industrial Trust in a research report on Wednesday, June 17th. They set a "market perform" rating for the company. Weiss Ratings reiterated a "hold (c+)" rating on shares of LXP Industrial Trust in a report on Friday, September 11th. Evercore set a $54.00 price objective on shares of LXP Industrial Trust in a research report on Monday, June 8th. Finally, BMO Capital Markets began coverage on shares of LXP Industrial Trust in a research note on Thursday, July 9th. They issued an "outperform" rating and a $65.00 target price on the stock.

LXP Industrial Trust Price Performance

NYSE LXP opened at $60.86 on Friday. The company has a current ratio of 0.10, a quick ratio of 0.10 and a debt-to-equity ratio of 0.19. LXP Industrial Trust has a 12 month low of $43.97 and a 12 month high of $61.61. The stock has a market cap of $3.59 billion, a price-to-earnings ratio of 60.86 and a beta of 1.02. The company's 50 day moving average is $60.23 and its two-hundred day moving average is $54.11.

LXP Industrial Trust (NYSE:LXP - Get Free Report) last issued its quarterly earnings data on Wednesday, July 29th. The real estate investment trust reported $0.84 earnings per share for the quarter, beating analysts' consensus estimates of $0.83 by $0.01. The firm had revenue of $88.11 million during the quarter, compared to analyst estimates of $85.37 million. LXP Industrial Trust had a return on equity of 3.37% and a net margin of 18.66%.The business's quarterly revenue was up .4% compared to the same quarter last year. During the same quarter last year, the business posted $0.16 earnings per share. As a group, research analysts anticipate that LXP Industrial Trust will post 3.34 earnings per share for the current year.

Hedge Funds Weigh In On LXP Industrial Trust

Several institutional investors have recently made changes to their positions in the company. Sequoia Financial Advisors LLC grew 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 valued at $288,000 after purchasing an additional 224 shares during the last quarter. Engineers Gate Manager LP lifted its position in shares of LXP Industrial Trust by 395.2% during the second quarter. Engineers Gate Manager LP now owns 27,732 shares of the real estate investment trust's stock valued at $1,494,000 after buying an additional 22,132 shares during the last quarter. Integrated Wealth Concepts LLC purchased a new position in shares of LXP Industrial Trust in the 2nd quarter worth approximately $46,000. Squarepoint Ops LLC purchased a new stake in LXP Industrial Trust during the second quarter valued at approximately $259,000. Finally, Corient Private Wealth LP acquired a new stake in LXP Industrial Trust in the second quarter valued at approximately $549,000. Hedge funds and other institutional investors own 93.52% of the company's stock.

LXP Industrial Trust Company Profile

LXP Industrial Trust NYSE: LXP is a real estate investment trust that owns and operates industrial properties in the United States. The company focuses primarily on single-tenant warehouse, distribution and manufacturing facilities that are leased to business and industrial tenants.

LXP typically leases its properties under long-term net lease agreements, under which tenants are generally responsible for many property-level operating expenses, including maintenance, insurance and taxes.

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