Centersquare Investment Management LLC Increases Stake in LXP Industrial Trust (NYSE:LXP)

Key Points

• Centersquare Investment Management LLC significantly increased its stake in LXP Industrial Trust by 1,103.9% during Q1, now owning 4,271,470 shares valued at approximately $36.9 million.
• LXP Industrial Trust reported earnings of $0.16 per share for the most recent quarter, matching the consensus estimate, with a revenue increase of 2.2% year-over-year.
• The company issued a quarterly dividend of $0.135, resulting in a 6.7% annualized dividend yield, though its payout ratio is notably high at 192.86%.

Centersquare Investment Management LLC raised its stake in shares of LXP Industrial Trust (NYSE:LXP - Free Report) by 1,103.9% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,271,470 shares of the real estate investment trust's stock after buying an additional 3,916,670 shares during the quarter. Centersquare Investment Management LLC owned about 1.44% of LXP Industrial Trust worth $36,948,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also added to or reduced their stakes in LXP. EQ Wealth Advisors LLC purchased a new position in shares of LXP Industrial Trust in the first quarter valued at $30,000. GF Fund Management CO. LTD. purchased a new position in shares of LXP Industrial Trust in the fourth quarter valued at $43,000. Signaturefd LLC grew its holdings in shares of LXP Industrial Trust by 678.3% in the first quarter. Signaturefd LLC now owns 6,281 shares of the real estate investment trust's stock valued at $54,000 after purchasing an additional 5,474 shares in the last quarter. Sterling Capital Management LLC grew its holdings in shares of 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 in the last quarter. Finally, Townsquare Capital LLC purchased a new position in shares of LXP Industrial Trust in the fourth quarter valued at $82,000. 93.52% of the stock is owned by hedge funds and other institutional investors.

LXP Industrial Trust Stock Up 2.0%

NYSE:LXP opened at $8.01 on Wednesday. LXP Industrial Trust has a twelve month low of $6.85 and a twelve month high of $10.44. The company has a market cap of $2.37 billion, a price-to-earnings ratio of 28.61 and a beta of 1.01. The stock has a fifty day simple moving average of $8.40 and a 200-day simple moving average of $8.38. The company has a current ratio of 0.13, a quick ratio of 0.13 and a debt-to-equity ratio of 0.18.

LXP Industrial Trust (NYSE:LXP - Get Free Report) last released its earnings results on Wednesday, July 30th. The real estate investment trust reported $0.16 earnings per share for the quarter, hitting the consensus estimate of $0.16. LXP Industrial Trust had a return on equity of 4.34% and a net margin of 24.07%. The business had revenue of $86.74 million during the quarter, compared to the consensus estimate of $87.25 million. During the same period last year, the company earned $0.16 earnings per share. The business's revenue for the quarter was up 2.2% compared to the same quarter last year. Analysts anticipate that LXP Industrial Trust will post 0.63 EPS for the current year.

LXP Industrial Trust Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 15th. Investors of record on Monday, June 30th were issued a $0.135 dividend. This represents a $0.54 annualized dividend and a dividend yield of 6.7%. The ex-dividend date was Monday, June 30th. LXP Industrial Trust's payout ratio is presently 192.86%.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. KeyCorp lowered their price target on LXP Industrial Trust from $11.00 to $10.00 and set an "overweight" rating for the company in a research report on Friday, May 2nd. JMP Securities restated a "market perform" rating on shares of LXP Industrial Trust in a research report 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.

Want to see what other hedge funds are holding LXP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for LXP Industrial Trust (NYSE:LXP - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.