Algert Global LLC Acquires 454,180 Shares of LXP Industrial Trust $LXP

Key Points

• Algert Global LLC significantly increased its stake in LXP Industrial Trust by 806.2%, now holding 510,515 shares valued at approximately $4.4 million.
• LXP Industrial Trust reported a quarterly earnings per share of $0.16, matching analysts' expectations, with revenue up 2.2% year-over-year.
• The company announced a quarterly dividend of $0.135, resulting in an annualized dividend yield of 6.6%, while facing a high payout ratio of 192.86%.

Algert Global LLC increased its stake in shares of LXP Industrial Trust (NYSE:LXP - Free Report) by 806.2% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 510,515 shares of the real estate investment trust's stock after acquiring an additional 454,180 shares during the period. Algert Global LLC owned 0.17% of LXP Industrial Trust worth $4,416,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in LXP. Centersquare Investment Management LLC grew its holdings in LXP Industrial Trust by 1,103.9% in the 1st quarter. Centersquare Investment Management LLC now owns 4,271,470 shares of the real estate investment trust's stock valued at $36,948,000 after buying an additional 3,916,670 shares during the last quarter. Balyasny Asset Management L.P. grew its holdings in LXP Industrial Trust by 514.9% in the 4th quarter. Balyasny Asset Management L.P. now owns 2,165,475 shares of the real estate investment trust's stock valued at $17,584,000 after buying an additional 1,813,280 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. grew its holdings in LXP Industrial Trust by 55.9% in the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 4,836,743 shares of the real estate investment trust's stock valued at $41,838,000 after buying an additional 1,733,329 shares during the last quarter. Sophron Capital Management L.P. acquired a new stake in LXP Industrial Trust in the 4th quarter valued at approximately $10,874,000. Finally, Adage Capital Partners GP L.L.C. grew its holdings in LXP Industrial Trust by 60.9% in the 4th quarter. Adage Capital Partners GP L.L.C. now owns 1,850,000 shares of the real estate investment trust's stock valued at $15,022,000 after buying an additional 700,000 shares during the last quarter. Institutional investors and hedge funds own 93.52% of the company's stock.

LXP Industrial Trust Price Performance

Shares of LXP Industrial Trust stock traded up $0.2250 during midday trading on Friday, hitting $8.7950. 3,957,019 shares of the company were exchanged, compared to its average volume of 2,932,634. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.13 and a quick ratio of 0.13. The firm has a market cap of $2.60 billion, a P/E ratio of 31.41 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. The firm has a 50 day simple moving average of $8.31 and a 200-day simple moving average of $8.37.

LXP Industrial Trust (NYSE:LXP - Get Free Report) last posted its earnings results on Wednesday, July 30th. The real estate investment trust reported $0.16 EPS 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%.LXP Industrial Trust's revenue was up 2.2% on a year-over-year basis. During the same quarter last year, the company earned $0.16 EPS. LXP Industrial Trust has set its FY 2025 guidance at 0.620-0.640 EPS. Research analysts forecast that LXP Industrial Trust will post 0.63 earnings per share for the current year.

LXP Industrial Trust Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 15th. Investors of record on Monday, June 30th were issued a dividend of $0.135 per share. This represents a $0.54 dividend on an annualized basis and a yield of 6.1%. The ex-dividend date of this dividend was Monday, June 30th. LXP Industrial Trust's dividend payout ratio (DPR) is currently 192.86%.

Analysts Set New Price Targets

A number of research firms have issued reports on LXP. JMP Securities reaffirmed a "market perform" rating on shares of LXP Industrial Trust in a report on Monday, May 5th. Wolfe Research assumed coverage on LXP Industrial Trust in a report on Friday. They issued an "outperform" rating and a $10.00 target price on the stock. Finally, KeyCorp reduced their price objective on 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. Two equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $10.33.

LXP Industrial Trust Profile

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.