Bank of America Corp DE Has $20.23 Million Position in LXP Industrial Trust $LXP

Key Points

• Bank of America increased its LXP Industrial Trust stake by 21.9% in the first quarter, owning 437,195 shares valued at approximately $20.23 million. Institutional investors and hedge funds collectively own 93.52% of the REIT.
• LXP reported quarterly earnings of $0.84 per share, exceeding estimates by $0.01, while revenue reached $88.11 million versus the $85.37 million consensus forecast.
• The company paid a quarterly dividend of $0.70 per share, equivalent to an annualized $2.80 dividend and a 4.6% yield. Analysts maintain a consensus “Hold” rating with an average price target of $56.17.

Bank of America Corp DE boosted its stake in shares of LXP Industrial Trust (NYSE:LXP - Free Report) by 21.9% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 437,195 shares of the real estate investment trust's stock after acquiring an additional 78,685 shares during the period. Bank of America Corp DE owned 0.74% of LXP Industrial Trust worth $20,225,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in LXP. Balyasny Asset Management L.P. boosted its position in shares of LXP Industrial Trust by 269.0% during the 2nd quarter. Balyasny Asset Management L.P. now owns 6,432,356 shares of the real estate investment trust's stock worth $53,131,000 after acquiring an additional 4,688,972 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of LXP Industrial Trust by 3.5% in the 3rd quarter. Dimensional Fund Advisors LP now owns 4,311,597 shares of the real estate investment trust's stock valued at $38,633,000 after purchasing an additional 145,951 shares in the last quarter. Goldman Sachs Group Inc. increased its stake in shares of LXP Industrial Trust by 14.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 3,717,830 shares of the real estate investment trust's stock valued at $32,159,000 after purchasing an additional 458,195 shares during the last quarter. Qube Research & Technologies Ltd increased its stake in shares of LXP Industrial Trust by 48.6% in the 3rd quarter. Qube Research & Technologies Ltd now owns 2,850,940 shares of the real estate investment trust's stock valued at $25,544,000 after purchasing an additional 932,200 shares during the last quarter. Finally, UBS Group AG increased its stake in shares of LXP Industrial Trust by 59.2% in the 3rd quarter. UBS Group AG now owns 2,452,515 shares of the real estate investment trust's stock valued at $21,975,000 after purchasing an additional 911,566 shares during the last quarter. 93.52% of the stock is owned by institutional investors and hedge funds.

LXP Industrial Trust Trading Down 0.1%

Shares of LXP stock opened at $60.59 on Wednesday. LXP Industrial Trust has a twelve month low of $41.55 and a twelve month high of $61.61. The stock's fifty day simple moving average is $57.32 and its 200 day simple moving average is $52.34. The company has a quick ratio of 0.10, a current ratio of 0.10 and a debt-to-equity ratio of 0.19. The firm has a market capitalization of $3.57 billion, a P/E ratio of 60.59 and a beta of 1.02.

LXP Industrial Trust (NYSE:LXP - Get Free Report) last posted its earnings results on Wednesday, July 29th. The real estate investment trust reported $0.84 EPS for the quarter, beating the consensus estimate of $0.83 by $0.01. LXP Industrial Trust had a return on equity of 3.37% and a net margin of 18.66%.The firm had revenue of $88.11 million during the quarter, compared to the consensus estimate of $85.37 million. During the same period last year, the company earned $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 Announces Dividend

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

Analysts Set New Price Targets

Several analysts recently weighed in on the company. Jefferies Financial Group downgraded LXP Industrial Trust from a "buy" rating to a "hold" rating and dropped their price objective for the stock from $62.00 to $61.00 in a research report on Thursday, August 6th. Evercore set a $54.00 target price on LXP Industrial Trust in a research report on Monday, June 8th. Raymond James Financial initiated coverage on LXP Industrial Trust in a research note on Wednesday, June 17th. They set a "market perform" rating for the company. KeyCorp reissued a "sector weight" rating on shares of LXP Industrial Trust in a report on Tuesday, June 9th. Finally, BMO Capital Markets started coverage on shares of LXP Industrial Trust in a research note on Thursday, July 9th. They issued an "outperform" rating and a $65.00 price target on the stock. Three equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $56.17.

LXP Industrial Trust Company Profile

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.

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