LXP Industrial Trust $LXP Shares Sold by Rhumbline Advisers

Key Points

• Rhumbline Advisers reduced its stake in LXP Industrial Trust by 5.3%, now holding 895,808 shares valued at approximately $7.75 million as of the latest SEC filing.
• LXP Industrial Trust's stock is currently trading around $9.25, with a market capitalization of $2.74 billion and a beta of 1.06.
• The company recently declared a quarterly dividend of $0.135, resulting in an annualized dividend yield of 5.8%, although its payout ratio is notably high at 192.86%.

Rhumbline Advisers lessened its stake in shares of LXP Industrial Trust (NYSE:LXP - Free Report) by 5.3% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 895,808 shares of the real estate investment trust's stock after selling 50,572 shares during the period. Rhumbline Advisers owned 0.30% of LXP Industrial Trust worth $7,749,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of the stock. Cetera Investment Advisers raised its position in shares of LXP Industrial Trust by 4.7% during the 1st quarter. Cetera Investment Advisers now owns 31,486 shares of the real estate investment trust's stock worth $272,000 after purchasing an additional 1,420 shares during the last quarter. PNC Financial Services Group Inc. raised its position in shares of LXP Industrial Trust by 3.4% during the 1st quarter. PNC Financial Services Group Inc. now owns 47,880 shares of the real estate investment trust's stock worth $414,000 after purchasing an additional 1,574 shares during the last quarter. M&T Bank Corp raised its position in shares of LXP Industrial Trust by 4.3% during the 1st quarter. M&T Bank Corp now owns 40,529 shares of the real estate investment trust's stock worth $351,000 after purchasing an additional 1,660 shares during the last quarter. Nissay Asset Management Corp Japan ADV raised its position in shares of LXP Industrial Trust by 4.0% during the 4th quarter. Nissay Asset Management Corp Japan ADV now owns 44,019 shares of the real estate investment trust's stock worth $362,000 after purchasing an additional 1,681 shares during the last quarter. Finally, Diversified Trust Co raised its holdings in LXP Industrial Trust by 6.9% in the 1st quarter. Diversified Trust Co now owns 32,414 shares of the real estate investment trust's stock valued at $280,000 after acquiring an additional 2,103 shares during the last quarter. Institutional investors and hedge funds own 93.52% of the company's stock.

LXP Industrial Trust Stock Up 2.4%

LXP stock opened at $9.25 on Friday. The company has a market cap of $2.74 billion, a price-to-earnings ratio of 33.04 and a beta of 1.06. 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 has a 12 month low of $6.85 and a 12 month high of $10.32. The firm has a 50-day moving average of $8.46 and a two-hundred day moving average of $8.43.

LXP Industrial Trust (NYSE:LXP - Get Free Report) last released 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. The company had revenue of $86.74 million during the quarter, compared to the consensus estimate of $87.25 million. LXP Industrial Trust had a net margin of 24.07% and a return on equity of 4.34%. LXP Industrial Trust's quarterly revenue was up 2.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.16 EPS. LXP Industrial Trust has set its FY 2025 guidance at 0.620-0.640 EPS. As a group, analysts forecast that LXP Industrial Trust will post 0.63 earnings per share for the current fiscal year.

LXP Industrial Trust Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th were paid a $0.135 dividend. The ex-dividend date of this dividend was Monday, June 30th. This represents a $0.54 annualized dividend and a dividend yield of 5.8%. LXP Industrial Trust's dividend payout ratio is 192.86%.

Analyst Ratings Changes

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 stock presently has a consensus rating of "Moderate Buy" and an average price target 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.

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