Bank of New York Mellon Corp Invests $36.81 Million in LXP Industrial Trust $LXP

Bank of New York Mellon Corp purchased a new stake in LXP Industrial Trust (NYSE:LXP - Free Report) during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 683,126 shares of the real estate investment trust's stock, valued at approximately $36,807,000. Bank of New York Mellon Corp owned approximately 1.16% of LXP Industrial Trust as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also bought and sold shares of the company. Caitong International Asset Management Co. Ltd acquired a new stake in LXP Industrial Trust during the third quarter worth about $26,000. EverSource Wealth Advisors LLC lifted its holdings in shares of LXP Industrial Trust by 101.7% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 3,481 shares of the real estate investment trust's stock worth $29,000 after acquiring an additional 1,755 shares during the period. Geneos Wealth Management Inc. boosted its position in shares of LXP Industrial Trust by 82.0% during the 2nd quarter. Geneos Wealth Management Inc. now owns 3,623 shares of the real estate investment trust's stock worth $30,000 after acquiring an additional 1,632 shares in the last quarter. EQ Wealth Advisors LLC acquired a new stake in shares of LXP Industrial Trust during the 4th quarter worth approximately $34,000. Finally, IFP Advisors Inc lifted its holdings in shares of LXP Industrial Trust by 63.8% in the fourth quarter. IFP Advisors Inc now owns 837 shares of the real estate investment trust's stock worth $41,000 after acquiring an additional 326 shares during the last quarter. 93.52% of the stock is owned by institutional investors.

LXP Industrial Trust Price Performance

Shares of LXP Industrial Trust stock opened at $60.71 on Friday. The firm has a market capitalization of $3.58 billion, a PE ratio of 60.71 and a beta of 1.02. The company has a current ratio of 0.10, a quick ratio of 0.10 and a debt-to-equity ratio of 0.19. LXP Industrial Trust has a 12 month low of $43.97 and a 12 month high of $61.61. The business's 50-day moving average price is $58.58 and its 200-day moving average price is $52.92.

LXP Industrial Trust (NYSE:LXP - Get Free Report) last announced its quarterly earnings data on Wednesday, July 29th. The real estate investment trust reported $0.84 earnings per share for the quarter, topping 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 firm had revenue of $88.11 million during the quarter, compared to analyst estimates of $85.37 million. During the same period in the previous year, the business posted $0.16 EPS. The business's quarterly revenue was up .4% on a year-over-year basis. Sell-side analysts forecast that LXP Industrial Trust will post 3.34 EPS for the current fiscal year.

LXP Industrial Trust Announces Dividend

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

Wall Street Analyst Weigh In

Several research firms have recently weighed in on LXP. Wall Street Zen cut shares of LXP Industrial Trust from a "hold" rating to a "sell" rating in a research report on Sunday, July 12th. Weiss Ratings raised shares of LXP Industrial Trust from a "hold (c)" rating to a "hold (c+)" rating in a research report on Monday, June 15th. BMO Capital Markets assumed coverage on LXP Industrial Trust in a report on Thursday, July 9th. They set an "outperform" rating and a $65.00 price target for the company. Citizens Jmp lowered LXP Industrial Trust from a "market outperform" rating to a "hold" rating in a research report on Tuesday, July 21st. Finally, Jefferies Financial Group downgraded LXP Industrial Trust from a "buy" rating to a "hold" rating and dropped their price objective for the company from $62.00 to $61.00 in a research note on Thursday, August 6th. Two equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $57.40.

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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