Sumitomo Mitsui Trust Group Inc. Increases Holdings in LXP Industrial Trust (NYSE:LXP)

Sumitomo Mitsui Trust Group Inc. grew its position in shares of LXP Industrial Trust (NYSE:LXP - Free Report) by 55.9% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 4,836,743 shares of the real estate investment trust's stock after buying an additional 1,733,329 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned 1.64% of LXP Industrial Trust worth $41,838,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of LXP. Norges Bank bought a new position in shares of LXP Industrial Trust during the 4th quarter worth approximately $40,114,000. Balyasny Asset Management L.P. raised its holdings in shares of LXP Industrial Trust by 514.9% in the 4th quarter. Balyasny Asset Management L.P. now owns 2,165,475 shares of the real estate investment trust's stock worth $17,584,000 after purchasing an additional 1,813,280 shares during the period. Sophron Capital Management L.P. bought a new stake in shares of LXP Industrial Trust in the 4th quarter worth approximately $10,874,000. Evergreen Capital Management LLC raised its holdings in shares of LXP Industrial Trust by 1,993.3% in the 4th quarter. Evergreen Capital Management LLC now owns 902,167 shares of the real estate investment trust's stock worth $7,447,000 after purchasing an additional 859,069 shares during the period. Finally, Sei Investments Co. raised its holdings in shares of LXP Industrial Trust by 113.7% in the 4th quarter. Sei Investments Co. now owns 1,555,297 shares of the real estate investment trust's stock worth $12,629,000 after purchasing an additional 827,657 shares during the period. Institutional investors own 93.52% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the stock. JMP Securities reaffirmed a "market perform" rating on shares of LXP Industrial Trust in a report on Monday, May 5th. KeyCorp lowered their price target on shares of LXP Industrial Trust from $11.00 to $10.00 and set an "overweight" rating on the stock in a report on Friday, May 2nd.

LXP Industrial Trust Stock Performance

Shares of NYSE:LXP traded up $0.01 during mid-day trading on Friday, reaching $8.41. The company had a trading volume of 2,237,268 shares, compared to its average volume of 2,364,892. The company has a current ratio of 0.13, a quick ratio of 0.13 and a debt-to-equity ratio of 0.19. The firm has a market cap of $2.49 billion, a price-to-earnings ratio of 42.05 and a beta of 1.03. The company's 50-day moving average price is $8.40 and its 200-day moving average price is $8.37. LXP Industrial Trust has a one year low of $6.85 and a one year high of $10.57.

LXP Industrial Trust (NYSE:LXP - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The real estate investment trust reported $0.16 earnings per share for the quarter, meeting analysts' consensus estimates of $0.16. The business had revenue of $87.89 million during the quarter, compared to analyst estimates of $84.72 million. LXP Industrial Trust had a net margin of 17.63% and a return on equity of 3.13%. LXP Industrial Trust's revenue was up 3.0% compared to the same quarter last year. During the same period in the previous year, the business earned $0.16 EPS. As a group, equities research analysts anticipate that LXP Industrial Trust will post 0.63 EPS for the current fiscal year.

LXP Industrial Trust Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th will be given a $0.135 dividend. This represents a $0.54 annualized dividend and a dividend yield of 6.42%. The ex-dividend date of this dividend is Monday, June 30th. LXP Industrial Trust's dividend payout ratio (DPR) is presently 270.00%.

About LXP Industrial Trust

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.