Alyeska Investment Group L.P. Invests $18.87 Million in LXP Industrial Trust $LXP

Key Points

• Alyeska Investment Group initiated an $18.87 million position in LXP Industrial Trust, purchasing 350,182 shares and holding approximately 0.59% of the REIT. Institutional investors collectively own 93.52% of LXP.
• LXP reported quarterly EPS of $0.84, slightly above the $0.83 consensus estimate, while revenue reached $88.11 million and increased 0.4% year over year.
• The company pays an annualized dividend of $2.80 per share, yielding about 4.6%, but its payout ratio is high at 280%. Analysts maintain a consensus “Hold” rating with an average price target of $57.40, below the stock’s $60.71 opening price.

Alyeska Investment Group L.P. bought a new position in LXP Industrial Trust (NYSE:LXP - Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 350,182 shares of the real estate investment trust's stock, valued at approximately $18,868,000. Alyeska Investment Group L.P. owned 0.59% of LXP Industrial Trust at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Nissay Asset Management Corp Japan increased its stake in LXP Industrial Trust by 1.9% during the second quarter. Nissay Asset Management Corp Japan now owns 9,247 shares of the real estate investment trust's stock worth $498,000 after acquiring an additional 173 shares during the last quarter. IFP Advisors Inc raised its holdings in shares of LXP Industrial Trust by 63.8% in the 4th quarter. IFP Advisors Inc now owns 837 shares of the real estate investment trust's stock worth $41,000 after purchasing an additional 326 shares during the period. Cetera Investment Advisers lifted its stake in shares of LXP Industrial Trust by 5.2% in the 1st quarter. Cetera Investment Advisers now owns 14,905 shares of the real estate investment trust's stock valued at $689,000 after purchasing an additional 743 shares in the last quarter. Pictet Asset Management Holding SA lifted its stake in shares of LXP Industrial Trust by 11.6% in the 1st quarter. Pictet Asset Management Holding SA now owns 9,698 shares of the real estate investment trust's stock valued at $449,000 after purchasing an additional 1,009 shares in the last quarter. Finally, Resona Asset Management Co. Ltd. grew its holdings in shares of LXP Industrial Trust by 4.7% during the 1st quarter. Resona Asset Management Co. Ltd. now owns 26,174 shares of the real estate investment trust's stock worth $1,213,000 after purchasing an additional 1,164 shares during the period. Institutional investors and hedge funds own 93.52% of the company's stock.

LXP Industrial Trust Stock Up 0.0%

NYSE LXP opened at $60.71 on Tuesday. The stock has a market cap of $3.58 billion, a PE ratio of 60.71 and a beta of 1.02. LXP Industrial Trust has a fifty-two week low of $43.97 and a fifty-two week high of $61.61. The business has a 50 day moving average price of $58.71 and a two-hundred day moving average price of $53.00. The company has a quick ratio of 0.10, a current ratio of 0.10 and a debt-to-equity ratio of 0.19.

LXP Industrial Trust (NYSE:LXP - Get Free Report) last posted its quarterly earnings data on Wednesday, July 29th. The real estate investment trust reported $0.84 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.83 by $0.01. LXP Industrial Trust had a net margin of 18.66% and a return on equity of 3.37%. The company had revenue of $88.11 million for the quarter, compared to analyst estimates of $85.37 million. During the same quarter last year, the firm posted $0.16 earnings per share. The business's quarterly revenue was up .4% on a year-over-year basis. As a group, sell-side analysts predict that LXP Industrial Trust will post 3.34 EPS for the current fiscal year.

LXP Industrial Trust Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th were issued a $0.70 dividend. The ex-dividend date of this dividend was Tuesday, June 30th. This represents a $2.80 dividend on an annualized basis and a yield of 4.6%. LXP Industrial Trust's dividend payout ratio is currently 280.00%.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on LXP shares. KeyCorp restated a "sector weight" rating on shares of LXP Industrial Trust in a report on Tuesday, June 9th. Weiss Ratings upgraded shares of LXP Industrial Trust from a "hold (c)" rating to a "hold (c+)" rating in a research note on Monday, June 15th. Citizens Jmp lowered shares of LXP Industrial Trust from a "market outperform" rating to a "hold" rating in a research report on Tuesday, July 21st. Jefferies Financial Group downgraded shares of LXP Industrial Trust from a "buy" rating to a "hold" rating and cut their target price for the company from $62.00 to $61.00 in a research note on Thursday, August 6th. Finally, BMO Capital Markets assumed coverage on shares of LXP Industrial Trust in a report on Thursday, July 9th. They set an "outperform" rating and a $65.00 target price on the stock. Two investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $57.40.

About LXP Industrial Trust

LXP Industrial Trust is a real estate investment trust that specializes in the ownership, acquisition and management of industrial properties across North America. The company's portfolio consists of warehouses, distribution centers and manufacturing facilities designed to support supply-chain and logistics operations. By focusing on long-term leasing arrangements, LXP Industrial Trust aims to provide stable income streams while delivering value to tenants through modern, well-positioned industrial space.

The firm's primary business activities include sourcing and under-writing new property investments, overseeing development and redevelopment projects, and implementing asset-management strategies to enhance the performance of its holdings.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source