Evergreen Capital Management LLC Sells 66,306 Shares of LXP Industrial Trust $LXP

Key Points

• Evergreen Capital Management LLC reduced its stake in LXP Industrial Trust by 7.3%, now owning 835,861 shares valued at approximately $7.34 million.
• Analysts have mixed outlooks on LXP, with price targets set between $10.00 and $11.00, as well as an average rating of "Moderate Buy" and a consensus target price of $10.33.
• LXP Industrial Trust reported earnings of $0.16 per share for the last quarter, with revenue of $86.74 million, slightly below expectations, while also maintaining a dividend yield of 5.9%.

Evergreen Capital Management LLC reduced its stake in shares of LXP Industrial Trust (NYSE:LXP - Free Report) by 7.3% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 835,861 shares of the real estate investment trust's stock after selling 66,306 shares during the period. Evergreen Capital Management LLC owned 0.28% of LXP Industrial Trust worth $7,343,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Signaturefd LLC grew its holdings in shares of LXP Industrial Trust by 678.3% during the 1st quarter. Signaturefd LLC now owns 6,281 shares of the real estate investment trust's stock valued at $54,000 after acquiring an additional 5,474 shares in the last quarter. Principal Financial Group Inc. grew its holdings in shares of LXP Industrial Trust by 3.1% during the 1st quarter. Principal Financial Group Inc. now owns 1,472,285 shares of the real estate investment trust's stock valued at $12,735,000 after acquiring an additional 44,233 shares in the last quarter. Allspring Global Investments Holdings LLC grew its holdings in shares of LXP Industrial Trust by 33.1% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 27,319 shares of the real estate investment trust's stock valued at $236,000 after acquiring an additional 6,800 shares in the last quarter. Teacher Retirement System of Texas grew its holdings in shares of LXP Industrial Trust by 102.0% during the 1st quarter. Teacher Retirement System of Texas now owns 135,450 shares of the real estate investment trust's stock valued at $1,172,000 after acquiring an additional 68,399 shares in the last quarter. Finally, Neo Ivy Capital Management purchased a new position in shares of LXP Industrial Trust during the 4th quarter valued at $1,199,000. 93.52% of the stock is currently owned by hedge funds and other institutional investors.

LXP Industrial Trust Stock Performance

Shares of LXP traded down $0.03 during trading hours on Thursday, reaching $8.97. 635,927 shares of the company traded hands, compared to its average volume of 2,932,507. The stock's fifty day moving average is $8.37 and its 200 day moving average is $8.41. The stock has a market cap of $2.65 billion, a P/E ratio of 32.02 and a beta of 1.06. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.13 and a current ratio of 0.13. LXP Industrial Trust has a 1-year low of $6.85 and a 1-year high of $10.43.

LXP Industrial Trust (NYSE:LXP - Get Free Report) last announced its quarterly earnings data on Wednesday, July 30th. The real estate investment trust reported $0.16 EPS for the quarter, meeting analysts' consensus estimates of $0.16. LXP Industrial Trust had a net margin of 24.07% and a return on equity of 4.34%. The business had revenue of $86.74 million during the quarter, compared to analyst estimates of $87.25 million. During the same quarter in the prior year, the business earned $0.16 earnings per share. The firm's revenue for the quarter was up 2.2% on a year-over-year basis. LXP Industrial Trust has set its FY 2025 guidance at 0.620-0.640 EPS. Equities research analysts anticipate that LXP Industrial Trust will post 0.63 earnings per share for the current fiscal year.

LXP Industrial Trust Dividend Announcement

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

Wall Street Analyst Weigh In

Separately, Wolfe Research began coverage on shares of LXP Industrial Trust in a report on Friday, August 22nd. They issued an "outperform" rating and a $10.00 price objective for the company. Two investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $10.33.

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.