Heartland Advisors Inc. Takes Position in LXP Industrial Trust $LXP

Key Points

• Heartland Advisors acquired 363,350 shares of LXP Industrial Trust in the second quarter, valued at approximately $19.6 million and representing about 0.62% of the REIT. Institutional investors collectively own 93.52% of LXP’s outstanding shares.
• LXP’s analyst consensus is “Hold”, with two Buy ratings and seven Hold ratings and an average price target of $57.40. Recent recommendations included BMO Capital Markets’ Outperform rating and a $65 target, while other analysts downgraded or maintained neutral views.
• LXP exceeded quarterly earnings expectations, reporting $0.84 EPS versus $0.83 expected and revenue of $88.11 million versus $85.37 million estimated. The company pays a quarterly dividend of $0.70, equating to an annualized $2.80 dividend and a 4.6% yield.

Heartland Advisors Inc. purchased a new position in LXP Industrial Trust (NYSE:LXP - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 363,350 shares of the real estate investment trust's stock, valued at approximately $19,577,000. Heartland Advisors Inc. owned approximately 0.62% of LXP Industrial Trust at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the stock. Principal Financial Group Inc. boosted its position in shares of LXP Industrial Trust by 31.1% in the 1st quarter. Principal Financial Group Inc. now owns 369,658 shares of the real estate investment trust's stock worth $17,100,000 after purchasing an additional 87,741 shares in the last quarter. Quantinno Capital Management LP raised its stake in LXP Industrial Trust by 128.1% in the first quarter. Quantinno Capital Management LP now owns 41,933 shares of the real estate investment trust's stock valued at $1,940,000 after buying an additional 23,550 shares during the last quarter. Alberta Investment Management Corp purchased a new stake in LXP Industrial Trust in the second quarter valued at about $18,238,000. Sumitomo Mitsui Trust Group Inc. boosted its holdings in LXP Industrial Trust by 3.2% in the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,159,623 shares of the real estate investment trust's stock worth $53,644,000 after acquiring an additional 36,043 shares in the last quarter. Finally, Lasalle Investment Management Securities LLC boosted its holdings in LXP Industrial Trust by 6.9% in the first quarter. Lasalle Investment Management Securities LLC now owns 1,828,528 shares of the real estate investment trust's stock worth $84,588,000 after acquiring an additional 117,737 shares in the last quarter. 93.52% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

LXP has been the topic of several recent analyst reports. KeyCorp restated a "sector weight" rating on shares of LXP Industrial Trust in a report on Tuesday, June 9th. Evercore set a $54.00 target price on shares of LXP Industrial Trust in a research note on Monday, June 8th. BMO Capital Markets initiated coverage on shares of LXP Industrial Trust in a research report on Thursday, July 9th. They set an "outperform" rating and a $65.00 target price on the stock. Citizens Jmp lowered shares of LXP Industrial Trust from a "market outperform" rating to a "hold" rating in a research note on Tuesday, July 21st. Finally, Wall Street Zen lowered shares of LXP Industrial Trust from a "hold" rating to a "sell" rating in a report on Sunday, July 12th. Two equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $57.40.

LXP Industrial Trust Price Performance

Shares of NYSE LXP opened at $60.92 on Friday. LXP Industrial Trust has a 52 week low of $43.27 and a 52 week high of $61.61. The business's 50 day moving average price is $57.80 and its 200 day moving average price is $52.56. The company has a quick ratio of 0.10, a current ratio of 0.10 and a debt-to-equity ratio of 0.19. The firm has a market cap of $3.59 billion, a P/E ratio of 60.92 and a beta of 1.02.

LXP Industrial Trust (NYSE:LXP - Get Free Report) last posted its quarterly earnings results on Wednesday, July 29th. The real estate investment trust reported $0.84 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.83 by $0.01. LXP Industrial Trust had a net margin of 18.66% and a return on equity of 3.37%. The company had revenue of $88.11 million during the quarter, compared to analyst estimates of $85.37 million. During the same period last year, the firm posted $0.16 EPS. LXP Industrial Trust's revenue for the quarter was up .4% compared to the same quarter last year. On average, sell-side analysts expect that LXP Industrial Trust will post 3.34 earnings per share for the current year.

LXP Industrial Trust Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th were paid a $0.70 dividend. The ex-dividend date was Tuesday, June 30th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 4.6%. LXP Industrial Trust's dividend payout ratio is presently 280.00%.

LXP Industrial Trust Company Profile

LXP Industrial Trust is a real estate investment trust that specializes in the ownership, acquisition and management of industrial properties across North America. The company's portfolio consists of warehouses, distribution centers and manufacturing facilities designed to support supply-chain and logistics operations. By focusing on long-term leasing arrangements, LXP Industrial Trust aims to provide stable income streams while delivering value to tenants through modern, well-positioned industrial space.

The firm's primary business activities include sourcing and under-writing new property investments, overseeing development and redevelopment projects, and implementing asset-management strategies to enhance the performance of its holdings.

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