50,759 Shares in LXP Industrial Trust $LXP Acquired by Mitsubishi UFJ Asset Management Co. Ltd.

Key Points

• Mitsubishi UFJ Asset Management acquired 50,759 shares of LXP Industrial Trust in the second quarter, valued at approximately $2.74 million and representing about 0.09% of the company.
• LXP reported quarterly earnings of $0.84 per share, exceeding estimates of $0.83, while revenue reached $88.11 million. Institutional investors and hedge funds collectively own 93.52% of the stock.
• The stock was trading near its 52-week high at $60.92, but analysts maintained a consensus “Hold” rating with a $57.40 price target. LXP also offers a $2.80 annualized dividend, yielding approximately 4.6%.

Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in LXP Industrial Trust (NYSE:LXP - Free Report) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 50,759 shares of the real estate investment trust's stock, valued at approximately $2,735,000. Mitsubishi UFJ Asset Management Co. Ltd. owned approximately 0.09% of LXP Industrial Trust as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also modified their holdings of LXP. EQ Wealth Advisors LLC bought a new stake in shares of LXP Industrial Trust during the fourth quarter worth $34,000. IFP Advisors Inc increased its stake in shares of LXP Industrial Trust by 63.8% in the 4th quarter. IFP Advisors Inc now owns 837 shares of the real estate investment trust's stock valued at $41,000 after acquiring an additional 326 shares during the last quarter. Summit Securities Group LLC acquired a new stake in LXP Industrial Trust in the first quarter worth $83,000. Caitong International Asset Management Co. Ltd acquired a new stake in LXP Industrial Trust during the 3rd quarter worth $26,000. Finally, EverSource Wealth Advisors LLC raised its position in shares of LXP Industrial Trust by 101.7% during the second quarter. EverSource Wealth Advisors LLC now owns 3,481 shares of the real estate investment trust's stock worth $29,000 after purchasing an additional 1,755 shares during the period. Institutional investors and hedge funds own 93.52% of the company's stock.

LXP Industrial Trust Stock Up 0.1%

Shares of NYSE:LXP opened at $60.92 on Friday. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.10 and a current ratio of 0.10. The company has a market capitalization of $3.59 billion, a PE ratio of 60.92 and a beta of 1.02. LXP Industrial Trust has a 52-week low of $43.27 and a 52-week high of $61.61. The company has a fifty day moving average of $57.80 and a 200-day moving average of $52.56.

LXP Industrial Trust (NYSE:LXP - Get Free Report) last released its quarterly earnings results on Wednesday, July 29th. The real estate investment trust reported $0.84 earnings per share for the quarter, topping 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 analysts' expectations of $85.37 million. During the same period in the previous year, the business posted $0.16 earnings per share. The business's quarterly revenue was up .4% compared to the same quarter last year. On average, equities analysts predict that LXP Industrial Trust will post 3.34 EPS for the current fiscal year.

LXP Industrial Trust Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th were issued a dividend of $0.70 per share. The ex-dividend date of this dividend was Tuesday, June 30th. This represents a $2.80 annualized dividend and a yield of 4.6%. LXP Industrial Trust's payout ratio is presently 280.00%.

Wall Street Analyst Weigh In

A number of brokerages recently commented on LXP. Citigroup restated an "outperform" rating on shares of LXP Industrial Trust in a report on Thursday, July 16th. Jefferies Financial Group cut LXP Industrial Trust from a "buy" rating to a "hold" rating and dropped their price objective for the stock from $62.00 to $61.00 in a research note on Thursday, August 6th. Weiss Ratings raised shares of LXP Industrial Trust from a "hold (c)" rating to a "hold (c+)" rating in a report on Monday, June 15th. KeyCorp restated a "sector weight" rating on shares of LXP Industrial Trust in a research note on Tuesday, June 9th. Finally, BMO Capital Markets started coverage on shares of LXP Industrial Trust in a research report on Thursday, July 9th. They set an "outperform" rating and a $65.00 price objective for the company. Two research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $57.40.

About LXP Industrial Trust

LXP Industrial Trust is a real estate investment trust that specializes in the ownership, acquisition and management of industrial properties across North America. The company's portfolio consists of warehouses, distribution centers and manufacturing facilities designed to support supply-chain and logistics operations. By focusing on long-term leasing arrangements, LXP Industrial Trust aims to provide stable income streams while delivering value to tenants through modern, well-positioned industrial space.

The firm's primary business activities include sourcing and under-writing new property investments, overseeing development and redevelopment projects, and implementing asset-management strategies to enhance the performance of its holdings.

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