Cubist Systematic Strategies LLC Purchases 585,528 Shares of LXP Industrial Trust $LXP

Key Points

• Cubist Systematic Strategies LLC significantly increased its stake in LXP Industrial Trust, lifting its position by 153.3% to 967,450 shares, worth approximately $8.36 million.
• LXP Industrial Trust received an "outperform" rating with a target price of $10.00 from Wolfe Research, contributing to a consensus rating of "Moderate Buy".
• The company recently announced a quarterly dividend of $0.135 per share, equating to an annualized yield of 6.1%, although it has a high payout ratio of 192.86%.

Cubist Systematic Strategies LLC lifted its stake in LXP Industrial Trust (NYSE:LXP - Free Report) by 153.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 967,450 shares of the real estate investment trust's stock after buying an additional 585,528 shares during the period. Cubist Systematic Strategies LLC owned approximately 0.33% of LXP Industrial Trust worth $8,368,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of LXP. Centersquare Investment Management LLC boosted its position in shares of LXP Industrial Trust by 1,103.9% in the first quarter. Centersquare Investment Management LLC now owns 4,271,470 shares of the real estate investment trust's stock worth $36,948,000 after buying an additional 3,916,670 shares during the period. Balyasny Asset Management L.P. raised its stake in LXP Industrial Trust by 514.9% during the fourth 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 buying an additional 1,813,280 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. raised its stake in LXP Industrial Trust by 55.9% during the first 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 buying an additional 1,733,329 shares in the last quarter. Sophron Capital Management L.P. acquired a new stake in LXP Industrial Trust during the fourth quarter valued at approximately $10,874,000. Finally, Northern Trust Corp raised its position in shares of LXP Industrial Trust by 17.7% during the 4th quarter. Northern Trust Corp now owns 4,201,424 shares of the real estate investment trust's stock worth $34,116,000 after purchasing an additional 633,054 shares during the period. Hedge funds and other institutional investors own 93.52% of the company's stock.

Analysts Set New Price Targets

Separately, Wolfe Research assumed coverage on LXP Industrial Trust in a research note on Friday, August 22nd. They set an "outperform" rating and a $10.00 price target for the company. Two equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $10.33.

LXP Industrial Trust Price Performance

NYSE LXP traded down $0.11 during trading hours on Monday, reaching $9.05. 581,858 shares of the company's stock were exchanged, compared to its average volume of 2,924,141. The firm has a fifty day moving average of $8.40 and a 200-day moving average of $8.41. LXP Industrial Trust has a one year low of $6.85 and a one year high of $10.32. The company has a current ratio of 0.13, a quick ratio of 0.13 and a debt-to-equity ratio of 0.18. The stock has a market cap of $2.68 billion, a PE ratio of 32.30 and a beta of 1.06.

LXP Industrial Trust (NYSE:LXP - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The real estate investment trust reported $0.16 earnings per share (EPS) for the quarter, meeting 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 analyst estimates of $87.25 million. During the same period in the previous year, the firm earned $0.16 EPS. LXP Industrial Trust's quarterly revenue was up 2.2% compared to the same quarter last year. LXP Industrial Trust has set its FY 2025 guidance at 0.620-0.640 EPS. On average, equities research analysts predict that LXP Industrial Trust will post 0.63 earnings per share for the current fiscal year.

LXP Industrial Trust Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th were given a dividend of $0.135 per share. This represents a $0.54 dividend on an annualized basis and a yield of 6.0%. The ex-dividend date of this dividend was Monday, June 30th. LXP Industrial Trust's payout ratio is 192.86%.

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.