LXP Industrial Trust (NYSE:LXP) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp trimmed its position in LXP Industrial Trust (NYSE:LXP - Free Report) by 4.1% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). 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 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in LXP. EQ Wealth Advisors LLC purchased a new stake in LXP Industrial Trust in the first quarter valued at $30,000. GF Fund Management CO. LTD. purchased a new stake in LXP Industrial Trust in the fourth quarter valued at $43,000. Sterling Capital Management LLC boosted its holdings in 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 valued at $74,000 after purchasing an additional 8,147 shares during the last quarter. Townsquare Capital LLC purchased a new stake in LXP Industrial Trust in the fourth quarter valued at $82,000. Finally, Proficio Capital Partners LLC purchased a new stake in LXP Industrial Trust in the fourth quarter valued at $83,000. 93.52% of the stock is owned by institutional investors and hedge funds.

LXP Industrial Trust Price Performance

Shares of LXP stock traded down $0.09 during mid-day trading on Monday, hitting $8.17. 4,148,662 shares of the stock were exchanged, compared to its average volume of 2,441,372. The firm has a fifty day moving average of $8.47 and a 200 day moving average of $8.38. The company has a quick ratio of 0.13, a current ratio of 0.13 and a debt-to-equity ratio of 0.19. LXP Industrial Trust has a 52-week low of $6.85 and a 52-week high of $10.57. The company has a market cap of $2.41 billion, a PE ratio of 40.83 and a beta of 1.03.

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

LXP Industrial Trust Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th were paid a $0.135 dividend. This represents a $0.54 dividend on an annualized basis and a yield of 6.61%. The ex-dividend date was Monday, June 30th. LXP Industrial Trust's dividend payout ratio (DPR) is 270.00%.

Analysts Set New Price Targets

LXP has been the topic of several recent research reports. KeyCorp lowered their price target on shares of LXP Industrial Trust from $11.00 to $10.00 and set an "overweight" rating on the stock in a report on Friday, May 2nd. JMP Securities reissued a "market perform" rating on shares of LXP Industrial Trust in a research note on Monday, May 5th.

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.