Aew Capital Management L P Sells 154,460 Shares of LXP Industrial Trust $LXP

Key Points

• Aew Capital Management L P has reduced its stake in LXP Industrial Trust by 2.7%, selling 154,460 shares during the 1st quarter and now holds approximately $48.97 million worth of the stock.
• LXP Industrial Trust reported a quarterly earnings per share (EPS) of $0.16, meeting analyst expectations, and a year-over-year revenue increase of 2.2% to $86.74 million.
• The company announced a quarterly dividend of $0.135, yielding 6.1%, with a payout ratio of 192.86%, indicating a high dividend payout relative to its earnings.

Aew Capital Management L P lowered its holdings in LXP Industrial Trust (NYSE:LXP - Free Report) by 2.7% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 5,661,321 shares of the real estate investment trust's stock after selling 154,460 shares during the quarter. LXP Industrial Trust comprises approximately 2.4% of Aew Capital Management L P's investment portfolio, making the stock its 13th largest holding. Aew Capital Management L P owned about 1.91% of LXP Industrial Trust worth $48,970,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the business. Cetera Investment Advisers grew its position in LXP Industrial Trust by 4.7% in the 1st quarter. Cetera Investment Advisers now owns 31,486 shares of the real estate investment trust's stock valued at $272,000 after purchasing an additional 1,420 shares during the period. PNC Financial Services Group Inc. grew its position in LXP Industrial Trust by 3.4% in the 1st quarter. PNC Financial Services Group Inc. now owns 47,880 shares of the real estate investment trust's stock valued at $414,000 after purchasing an additional 1,574 shares during the period. M&T Bank Corp grew its position in LXP Industrial Trust by 4.3% in the 1st quarter. M&T Bank Corp now owns 40,529 shares of the real estate investment trust's stock valued at $351,000 after purchasing an additional 1,660 shares during the period. Nissay Asset Management Corp Japan ADV grew its position in LXP Industrial Trust by 4.0% in the 4th quarter. Nissay Asset Management Corp Japan ADV now owns 44,019 shares of the real estate investment trust's stock valued at $362,000 after purchasing an additional 1,681 shares during the period. Finally, First Trust Advisors LP grew its position in LXP Industrial Trust by 0.7% in the 4th quarter. First Trust Advisors LP now owns 280,970 shares of the real estate investment trust's stock valued at $2,281,000 after purchasing an additional 1,896 shares during the period. Institutional investors and hedge funds own 93.52% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on LXP. KeyCorp reduced their price target on shares of LXP Industrial Trust from $11.00 to $10.00 and set an "overweight" rating for the company in a research report on Friday, May 2nd. JMP Securities reaffirmed a "market perform" rating on shares of LXP Industrial Trust in a report on Monday, May 5th. Finally, Wolfe Research started coverage on shares of LXP Industrial Trust in a report on Friday, August 22nd. They set an "outperform" rating and a $10.00 price objective on the stock. Two investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $10.33.

LXP Industrial Trust Stock Performance

Shares of NYSE:LXP traded down $0.11 during midday trading on Thursday, reaching $8.99. The company had a trading volume of 1,314,223 shares, compared to its average volume of 2,951,711. The company's 50 day moving average price is $8.34 and its 200 day moving average price is $8.38. The company has a current ratio of 0.13, a quick ratio of 0.13 and a debt-to-equity ratio of 0.18. The stock has a market cap of $2.66 billion, a P/E ratio of 32.09 and a beta of 1.01. LXP Industrial Trust has a 52-week low of $6.85 and a 52-week high of $10.44.

LXP Industrial Trust (NYSE:LXP - Get Free Report) last issued its quarterly earnings results on Wednesday, July 30th. The real estate investment trust reported $0.16 earnings per share for the quarter, hitting analysts' consensus estimates of $0.16. The company had revenue of $86.74 million for the quarter, compared to the consensus estimate of $87.25 million. LXP Industrial Trust had a net margin of 24.07% and a return on equity of 4.34%. The firm's quarterly revenue was up 2.2% on a year-over-year basis. During the same period in the previous year, the firm earned $0.16 EPS. LXP Industrial Trust has set its FY 2025 guidance at 0.620-0.640 EPS. As a group, sell-side analysts anticipate that LXP Industrial Trust will post 0.63 EPS for the current fiscal year.

LXP Industrial Trust Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th were issued a dividend of $0.135 per share. The ex-dividend date of this dividend was Monday, June 30th. This represents a $0.54 annualized dividend and a yield of 6.0%. LXP Industrial Trust's dividend payout ratio 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.