LXP Industrial Trust $LXP Shares Sold by Adage Capital Partners GP L.L.C.

Key Points

• Adage Capital Partners GP L.L.C. has reduced its stake in LXP Industrial Trust by 32.4%, selling 600,000 shares during the first quarter, leaving it with 1,250,000 shares valued at approximately $10.8 million.
• Several institutional investors, including Centersquare Investment Management LLC and Sumitomo Mitsui Trust Group Inc., significantly increased their holdings in LXP Industrial Trust, resulting in 93.52% of the shares being owned by institutional investors.
• LXP Industrial Trust reported a $0.16 EPS in its recent earnings, with a 2.2% increase in quarterly revenue compared to last year, and issued a dividend of $0.135 per share with a yield of 5.9%.

Adage Capital Partners GP L.L.C. reduced its holdings in shares of LXP Industrial Trust (NYSE:LXP - Free Report) by 32.4% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,250,000 shares of the real estate investment trust's stock after selling 600,000 shares during the quarter. Adage Capital Partners GP L.L.C. owned approximately 0.42% of LXP Industrial Trust worth $10,812,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Cubist Systematic Strategies LLC boosted its position in shares of LXP Industrial Trust by 153.3% in the first quarter. Cubist Systematic Strategies LLC now owns 967,450 shares of the real estate investment trust's stock valued at $8,368,000 after acquiring an additional 585,528 shares during the period. Ieq Capital LLC grew its position in shares of LXP Industrial Trust by 144.4% during the 1st quarter. Ieq Capital LLC now owns 47,971 shares of the real estate investment trust's stock worth $415,000 after buying an additional 28,339 shares during the period. Samalin Investment Counsel LLC increased its stake in LXP Industrial Trust by 165.6% during the 1st quarter. Samalin Investment Counsel LLC now owns 69,403 shares of the real estate investment trust's stock valued at $600,000 after purchasing an additional 43,277 shares in the last quarter. Systematic Financial Management LP lifted its stake in LXP Industrial Trust by 0.4% during the 1st quarter. Systematic Financial Management LP now owns 2,933,883 shares of the real estate investment trust's stock valued at $25,378,000 after acquiring an additional 11,873 shares in the last quarter. Finally, Smartleaf Asset Management LLC raised its stake in shares of LXP Industrial Trust by 407.4% during the 1st quarter. Smartleaf Asset Management LLC now owns 12,212 shares of the real estate investment trust's stock worth $107,000 after purchasing an additional 9,805 shares during the period. 93.52% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Separately, Wolfe Research assumed coverage on LXP Industrial Trust in a research report on Friday, August 22nd. They set an "outperform" rating and a $10.00 price target on the stock. Two analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, LXP Industrial Trust currently has a consensus rating of "Moderate Buy" and a consensus target price of $10.33.

LXP Industrial Trust Stock Performance

LXP Industrial Trust stock traded up $0.18 during midday trading on Thursday, hitting $9.21. The stock had a trading volume of 2,038,367 shares, compared to its average volume of 2,918,568. The firm's fifty day moving average is $8.44 and its two-hundred day moving average is $8.42. The company has a market capitalization of $2.72 billion, a PE ratio of 32.88 and a beta of 1.06. LXP Industrial Trust has a 52-week low of $6.85 and a 52-week high of $10.32. The company has a current ratio of 0.13, a quick ratio of 0.13 and a debt-to-equity ratio of 0.18.

LXP Industrial Trust (NYSE:LXP - Get Free Report) last posted its quarterly earnings results on Wednesday, July 30th. The real estate investment trust reported $0.16 earnings per share for the quarter, hitting the consensus estimate of $0.16. The business 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% compared to the same quarter last year. During the same period in the prior year, the company posted $0.16 EPS. LXP Industrial Trust has set its FY 2025 guidance at 0.620-0.640 EPS. On average, research analysts forecast that LXP Industrial Trust will post 0.63 EPS for the current year.

LXP Industrial Trust Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th were given a dividend of $0.135 per share. This represents a $0.54 annualized dividend and a dividend yield of 5.9%. The ex-dividend date was Monday, June 30th. LXP Industrial Trust's dividend payout ratio (DPR) is 192.86%.

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.