Bank of America Corp DE Sells 266,110 Shares of LXP Industrial Trust (NYSE:LXP)

Bank of America Corp DE reduced its holdings in LXP Industrial Trust (NYSE:LXP - Free Report) by 16.8% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,314,271 shares of the real estate investment trust's stock after selling 266,110 shares during the period. Bank of America Corp DE owned approximately 0.45% of LXP Industrial Trust worth $10,672,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Vanguard Group Inc. lifted its holdings in shares of LXP Industrial Trust by 0.5% in the 4th quarter. Vanguard Group Inc. now owns 45,849,663 shares of the real estate investment trust's stock valued at $372,299,000 after acquiring an additional 243,372 shares during the last quarter. Aew Capital Management L P raised its position in LXP Industrial Trust by 72.5% during the fourth quarter. Aew Capital Management L P now owns 5,815,781 shares of the real estate investment trust's stock valued at $47,224,000 after purchasing an additional 2,445,084 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in shares of LXP Industrial Trust by 0.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 5,331,857 shares of the real estate investment trust's stock valued at $43,295,000 after purchasing an additional 46,050 shares during the last quarter. Norges Bank purchased a new position in shares of LXP Industrial Trust in the 4th quarter worth approximately $40,114,000. Finally, Northern Trust Corp boosted its holdings in shares of LXP Industrial Trust by 17.7% in the 4th quarter. Northern Trust Corp now owns 4,201,424 shares of the real estate investment trust's stock worth $34,116,000 after purchasing an additional 633,054 shares during the period. 93.52% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on LXP shares. KeyCorp lowered their price target on LXP Industrial Trust from $11.00 to $10.00 and set an "overweight" rating for the company in a research report on Friday, May 2nd. JMP Securities reissued a "market perform" rating on shares of LXP Industrial Trust in a research note on Monday, May 5th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $11.00.

LXP Industrial Trust Trading Up 1.1%

Shares of LXP stock traded up $0.09 on Thursday, reaching $8.56. 2,026,977 shares of the company's stock were exchanged, compared to its average volume of 2,278,987. The company's fifty day simple moving average is $8.09 and its 200 day simple moving average is $8.49. LXP Industrial Trust has a 52 week low of $6.85 and a 52 week high of $10.57. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 0.21. The stock has a market capitalization of $2.53 billion, a PE ratio of 65.85 and a beta of 1.02.

LXP Industrial Trust (NYSE:LXP - Get Free Report) last issued its earnings results on Thursday, May 1st. The real estate investment trust reported $0.16 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.16. The firm 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 12.40% and a return on equity of 2.15%. The business's revenue was up 3.0% on a year-over-year basis. During the same period in the previous year, the firm earned $0.16 earnings per share. As a group, analysts forecast that LXP Industrial Trust will post 0.63 EPS for the current year.

LXP Industrial Trust Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st were paid a dividend of $0.135 per share. The ex-dividend date of this dividend was Monday, March 31st. This represents a $0.54 annualized dividend and a dividend yield of 6.31%. LXP Industrial Trust's dividend payout ratio is currently 270.00%.

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.