Engineers Gate Manager LP Purchases 22,132 Shares of LXP Industrial Trust $LXP

Key Points

• Engineers Gate Manager LP increased its LXP Industrial Trust stake by 395.2% in the second quarter, purchasing 22,132 additional shares and bringing its holdings to 27,732 shares valued at approximately $1.49 million.
• Institutional ownership remains high at 93.52%, with several major investors—including Alyeska Investment Group and the Virginia Retirement Systems—initiating or expanding positions.
• Analysts have a consensus “Hold” rating and an average price target of $57.40, despite LXP slightly exceeding quarterly EPS and revenue expectations; shares recently opened at $60.85.

Engineers Gate Manager LP lifted its stake in shares of LXP Industrial Trust (NYSE:LXP - Free Report) by 395.2% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 27,732 shares of the real estate investment trust's stock after buying an additional 22,132 shares during the quarter. Engineers Gate Manager LP's holdings in LXP Industrial Trust were worth $1,494,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in LXP. Integrated Wealth Concepts LLC bought a new position in shares of LXP Industrial Trust in the second quarter valued at approximately $46,000. Squarepoint Ops LLC purchased a new stake in shares of LXP Industrial Trust in the second quarter worth about $259,000. Corient Private Wealth LP bought a new position in LXP Industrial Trust in the 2nd quarter valued at $549,000. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in shares of LXP Industrial Trust in the second quarter worth approximately $5,854,000. Finally, Alyeska Investment Group L.P. bought a new stake in shares of LXP Industrial Trust during the 2nd quarter worth $18,868,000. 93.52% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on LXP. Jefferies Financial Group cut LXP Industrial Trust from a "buy" rating to a "hold" rating and reduced their price objective for the company from $62.00 to $61.00 in a research note on Thursday, August 6th. BMO Capital Markets assumed coverage on shares of LXP Industrial Trust in a research note on Thursday, July 9th. They issued an "outperform" rating and a $65.00 price target on the stock. Wall Street Zen downgraded LXP Industrial Trust from a "hold" rating to a "sell" rating in a report on Sunday, July 12th. Citizens Jmp cut LXP Industrial Trust from a "market outperform" rating to a "hold" rating in a research report on Tuesday, July 21st. Finally, Citigroup reiterated an "outperform" rating on shares of LXP Industrial Trust in a research report on Thursday, July 16th. Two investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company's stock. According to data from MarketBeat.com, LXP Industrial Trust has a consensus rating of "Hold" and an average target price of $57.40.

LXP Industrial Trust Stock Up 0.1%

Shares of LXP opened at $60.85 on Thursday. The business's 50 day moving average is $60.12 and its 200 day moving average is $54.03. The company has a market capitalization of $3.59 billion, a PE ratio of 60.85 and a beta of 1.02. LXP Industrial Trust has a 12-month low of $43.97 and a 12-month high of $61.61. 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 (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 (EPS) for the quarter, beating analysts' consensus estimates of $0.83 by $0.01. The business had revenue of $88.11 million during the quarter, compared to analyst estimates of $85.37 million. LXP Industrial Trust had a net margin of 18.66% and a return on equity of 3.37%. The company's revenue was up .4% on a year-over-year basis. During the same period last year, the firm posted $0.16 EPS. Research analysts expect that LXP Industrial Trust will post 3.34 earnings per share for the current fiscal year.

LXP Industrial Trust Profile

LXP Industrial Trust NYSE: LXP is a real estate investment trust that owns and operates industrial properties in the United States. The company focuses primarily on single-tenant warehouse, distribution and manufacturing facilities that are leased to business and industrial tenants.

LXP typically leases its properties under long-term net lease agreements, under which tenants are generally responsible for many property-level operating expenses, including maintenance, insurance and taxes.

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