LXP Industrial Trust $LXP Stock Sold by Sumitomo Mitsui Trust Group Inc.

Key Points

• Sumitomo Mitsui Trust Group cut its LXP Industrial Trust stake by 93.4% in the third quarter, selling 801,024 shares and ending the period with 56,555 shares valued at about $3.45 million.
• Institutional investors collectively own 93.52% of LXP. The stock was recently at $61.18, near its 52-week high of $61.61.
• LXP reported quarterly revenue of $90.78 million, above the $87.10 million consensus estimate. Analysts’ overall rating is Hold, with a consensus price target of $57.40.

Sumitomo Mitsui Trust Group Inc. reduced its position in shares of LXP Industrial Trust (NYSE:LXP - Free Report) by 93.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 56,555 shares of the real estate investment trust's stock after selling 801,024 shares during the period. Sumitomo Mitsui Trust Group Inc. owned approximately 0.10% of LXP Industrial Trust worth $3,445,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in LXP. Integrated Wealth Concepts LLC acquired a new stake in shares of LXP Industrial Trust in the 2nd quarter valued at $46,000. Farther Finance Advisors LLC raised its holdings in shares of LXP Industrial Trust by 141.9% during the 3rd quarter. Farther Finance Advisors LLC now owns 1,132 shares of the real estate investment trust's stock worth $69,000 after buying an additional 664 shares in the last quarter. Allworth Financial LP acquired a new position in shares of LXP Industrial Trust during the 2nd quarter worth $78,000. Summit Securities Group LLC acquired a new position in shares of LXP Industrial Trust during the 1st quarter worth $83,000. Finally, GAMMA Investing LLC lifted its position in shares of LXP Industrial Trust by 25.7% during the 3rd quarter. GAMMA Investing LLC now owns 1,881 shares of the real estate investment trust's stock worth $115,000 after buying an additional 385 shares during the last quarter. 93.52% of the stock is currently owned by institutional investors.

LXP Industrial Trust Stock Performance

Shares of NYSE LXP remained flat at $61.18 during midday trading on Friday. The firm has a fifty day moving average of $60.96 and a 200 day moving average of $54.74. The stock has a market cap of $3.61 billion, a PE ratio of 31.54 and a beta of 1.02. LXP Industrial Trust has a 1-year low of $44.17 and a 1-year high of $61.61. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.10 and a current ratio of 0.19.

LXP Industrial Trust (NYSE:LXP - Get Free Report) last announced its quarterly earnings results on Tuesday, October 27th. The real estate investment trust reported $0.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.07 by $0.82. LXP Industrial Trust had a net margin of 34.31% and a return on equity of 6.29%. The company had revenue of $90.78 million during the quarter, compared to the consensus estimate of $87.10 million. As a group, research analysts predict that LXP Industrial Trust will post 3.34 EPS for the current year.

Wall Street Analyst Weigh In

LXP has been the topic of several research analyst reports. Wall Street Zen lowered LXP Industrial Trust from a "hold" rating to a "sell" rating in a research note on Sunday, July 12th. Citizens Jmp downgraded LXP Industrial Trust from a "market outperform" rating to a "hold" rating in a research note on Tuesday, July 21st. Weiss Ratings raised LXP Industrial Trust from a "buy (b-)" rating to a "buy (b)" rating in a research note on Monday. Citigroup reissued an "outperform" rating on shares of LXP Industrial Trust in a report on Thursday, July 16th. Finally, Jefferies Financial Group downgraded shares of LXP Industrial Trust from a "buy" rating to a "hold" rating and reduced their price target for the company from $62.00 to $61.00 in a research note on Thursday, August 6th. Three investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $57.40.

LXP Industrial Trust Company Profile

LXP Industrial Trust NYSE: LXP is a self-managed real estate investment trust focused on owning and managing industrial properties in the United States. The company primarily invests in single-tenant, long-term leased facilities, including distribution centers, logistics properties, and manufacturing buildings.

LXP's portfolio serves tenants involved in logistics, supply chain management, manufacturing, and other industrial activities. Its properties are located across several U.S. markets, with an emphasis on areas supported by population growth, transportation infrastructure, and expanding industrial demand.

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