Bank of New York Mellon Corp Sells 114,487 Shares of LXP Industrial Trust (NYSE:LXP)

Bank of New York Mellon Corp reduced its position in shares of LXP Industrial Trust (NYSE:LXP - Free Report) by 4.1% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,647,739 shares of the real estate investment trust's stock after selling 114,487 shares during the period. Bank of New York Mellon Corp owned 0.90% of LXP Industrial Trust worth $22,903,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the company. Norges Bank acquired a new position in LXP Industrial Trust during the 4th quarter valued at $40,114,000. Balyasny Asset Management L.P. raised its stake in LXP Industrial Trust by 514.9% during the 4th quarter. Balyasny Asset Management L.P. now owns 2,165,475 shares of the real estate investment trust's stock valued at $17,584,000 after purchasing an additional 1,813,280 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. raised its stake in LXP Industrial Trust by 55.9% during the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 4,836,743 shares of the real estate investment trust's stock valued at $41,838,000 after purchasing an additional 1,733,329 shares during the last quarter. Sophron Capital Management L.P. acquired a new position in LXP Industrial Trust during the 4th quarter valued at $10,874,000. Finally, Evergreen Capital Management LLC raised its stake in LXP Industrial Trust by 1,993.3% during the 4th quarter. Evergreen Capital Management LLC now owns 902,167 shares of the real estate investment trust's stock valued at $7,447,000 after purchasing an additional 859,069 shares during the last quarter. 93.52% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research firms recently commented on LXP. JMP Securities reiterated a "market perform" rating on shares of LXP Industrial Trust in a research note on Monday, May 5th. KeyCorp cut their target price on shares of LXP Industrial Trust from $11.00 to $10.00 and set an "overweight" rating for the company in a research note on Friday, May 2nd.

LXP Industrial Trust Price Performance

Shares of LXP stock traded down $0.05 during mid-day trading on Friday, reaching $8.25. The company's stock had a trading volume of 3,561,406 shares, compared to its average volume of 2,427,519. LXP Industrial Trust has a 1-year low of $6.85 and a 1-year high of $10.57. The company has a market cap of $2.44 billion, a P/E ratio of 41.25 and a beta of 1.03. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.13 and a current ratio of 0.13. The firm's 50-day moving average is $8.47 and its two-hundred day moving average is $8.38.

LXP Industrial Trust (NYSE:LXP - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The real estate investment trust reported $0.16 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.16. LXP Industrial Trust had a net margin of 17.63% and a return on equity of 3.13%. The company had revenue of $87.89 million during the quarter, compared to analysts' expectations of $84.72 million. During the same quarter in the prior year, the company posted $0.16 EPS. The business's revenue was up 3.0% on a year-over-year basis. On average, research analysts predict that LXP Industrial Trust will post 0.63 earnings per share for the current year.

LXP Industrial Trust Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th were paid a $0.135 dividend. This represents a $0.54 dividend on an annualized basis and a dividend yield of 6.55%. The ex-dividend date was Monday, June 30th. LXP Industrial Trust's dividend payout ratio is 270.00%.

About LXP Industrial Trust

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.