Allianz Asset Management GmbH Invests $4.26 Million in LXP Industrial Trust (NYSE:LXP)

Allianz Asset Management GmbH bought a new stake in shares of LXP Industrial Trust (NYSE:LXP - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 492,889 shares of the real estate investment trust's stock, valued at approximately $4,263,000. Allianz Asset Management GmbH owned approximately 0.17% of LXP Industrial Trust as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. EQ Wealth Advisors LLC purchased a new stake in shares of LXP Industrial Trust during the 1st quarter worth about $30,000. GF Fund Management CO. LTD. acquired a new position in shares of LXP Industrial Trust during the fourth quarter valued at $43,000. Signaturefd LLC lifted its stake in LXP Industrial Trust by 678.3% in the first quarter. Signaturefd LLC now owns 6,281 shares of the real estate investment trust's stock valued at $54,000 after buying an additional 5,474 shares during the period. Sterling Capital Management LLC increased its holdings in shares of LXP Industrial Trust by 805.0% in the fourth quarter. Sterling Capital Management LLC now owns 9,159 shares of the real estate investment trust's stock worth $74,000 after acquiring an additional 8,147 shares in the last quarter. Finally, Townsquare Capital LLC bought a new position in shares of LXP Industrial Trust during the fourth quarter worth about $82,000. Institutional investors and hedge funds own 93.52% of the company's stock.

Analysts Set New Price Targets

Several analysts recently weighed in on LXP shares. JMP Securities reissued a "market perform" rating on shares of LXP Industrial Trust in a report on Monday, May 5th. KeyCorp reduced their price target on LXP Industrial Trust from $11.00 to $10.00 and set an "overweight" rating on the stock in a research report on Friday, May 2nd.

LXP Industrial Trust Stock Performance

NYSE:LXP traded down $0.02 during trading hours on Friday, reaching $7.75. The stock had a trading volume of 1,013,725 shares, compared to its average volume of 2,858,329. The stock has a market cap of $2.29 billion, a P/E ratio of 27.67 and a beta of 1.03. LXP Industrial Trust has a 12-month low of $6.85 and a 12-month high of $10.44. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.13 and a current ratio of 0.13. The stock has a 50 day simple moving average of $8.43 and a 200 day simple moving average of $8.38.

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 (EPS) for the quarter, hitting the consensus estimate of $0.16. LXP Industrial Trust had a return on equity of 4.34% and a net margin of 24.07%. The firm had revenue of $86.74 million during the quarter, compared to analyst estimates of $87.25 million. During the same quarter in the previous year, the company posted $0.16 earnings per share. The company's revenue was up 2.2% compared to the same quarter last year. On average, research analysts forecast that LXP Industrial Trust will post 0.63 EPS for the current fiscal year.

LXP Industrial Trust Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, July 15th. Investors of record on Monday, June 30th were paid a $0.135 dividend. The ex-dividend date was Monday, June 30th. This represents a $0.54 annualized dividend and a dividend yield of 7.0%. LXP Industrial Trust's dividend payout ratio is presently 270.00%.

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.