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 lifted its position in shares of LXP Industrial Trust (NYSE:LXP - Free Report) by 806.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 510,515 shares of the real estate investment trust's stock after purchasing an additional 454,180 shares during the period. Algert Global LLC owned about 0.17% of LXP Industrial Trust worth $4,416,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. EQ Wealth Advisors LLC bought a new stake in shares of LXP Industrial Trust during the first quarter worth about $30,000. Headlands Technologies LLC bought a new stake in shares of LXP Industrial Trust during the first quarter worth about $46,000. GF Fund Management CO. LTD. bought a new stake in shares of LXP Industrial Trust during the fourth quarter worth about $43,000. Signaturefd LLC grew its holdings in shares of LXP Industrial Trust by 678.3% during the first quarter. Signaturefd LLC now owns 6,281 shares of the real estate investment trust's stock worth $54,000 after purchasing an additional 5,474 shares during the last quarter. Finally, Sterling Capital Management LLC grew its holdings in shares of LXP Industrial Trust by 805.0% during the fourth quarter. Sterling Capital Management LLC now owns 9,159 shares of the real estate investment trust's stock worth $74,000 after purchasing an additional 8,147 shares during the last quarter. 93.52% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

LXP has been the topic of several analyst reports. JMP Securities reiterated a "market perform" rating on shares of LXP Industrial Trust in a report on Monday, May 5th. KeyCorp reduced their target price on LXP Industrial Trust from $11.00 to $10.00 and set an "overweight" rating on the stock in a report on Friday, May 2nd. Finally, Wolfe Research initiated coverage on LXP Industrial Trust in a report on Friday. They issued an "outperform" rating and a $10.00 target price on the stock. Two investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, LXP Industrial Trust currently has an average rating of "Moderate Buy" and a consensus price target of $10.33.

LXP Industrial Trust Trading Up 2.6%

LXP stock traded up $0.2250 during trading on Friday, hitting $8.7950. The company had a trading volume of 3,957,019 shares, compared to its average volume of 3,722,543. The business has a 50-day moving average of $8.32 and a 200-day moving average of $8.37. LXP Industrial Trust has a one year low of $6.85 and a one year high of $10.44. The stock has a market cap of $2.60 billion, a PE ratio of 31.41 and a beta of 1.01. 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 (EPS) for the quarter, hitting analysts' consensus estimates of $0.16. The firm had revenue of $86.74 million for the quarter, compared to analysts' expectations of $87.25 million. LXP Industrial Trust had a return on equity of 4.34% and a net margin of 24.07%.The company'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 business earned $0.16 EPS. LXP Industrial Trust has set its FY 2025 guidance at 0.620-0.640 EPS. Research analysts predict that LXP Industrial Trust will post 0.63 earnings per share for the current fiscal year.

LXP Industrial Trust Announces Dividend

The firm also recently declared 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. This represents a $0.54 dividend on an annualized basis and a dividend yield of 6.1%. The ex-dividend date was Monday, June 30th. LXP Industrial Trust's dividend payout ratio is presently 192.86%.

LXP Industrial Trust Company 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.