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

Bank of America Corp DE lowered its stake in shares of LXP Industrial Trust (NYSE:LXP - Free Report) by 16.8% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,314,271 shares of the real estate investment trust's stock after selling 266,110 shares during the quarter. Bank of America Corp DE owned about 0.45% of LXP Industrial Trust worth $10,672,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in LXP. Sterling Capital Management LLC lifted its stake in shares of LXP Industrial Trust by 805.0% in the fourth quarter. Sterling Capital Management LLC now owns 9,159 shares of the real estate investment trust's stock worth $74,000 after buying an additional 8,147 shares during the last quarter. Wealthfront Advisers LLC bought a new stake in shares of LXP Industrial Trust in the fourth quarter valued at approximately $80,000. Townsquare Capital LLC acquired a new stake in shares of LXP Industrial Trust in the fourth quarter worth $82,000. Proficio Capital Partners LLC bought a new position in LXP Industrial Trust during the fourth quarter worth $83,000. Finally, Two Sigma Securities LLC acquired a new position in LXP Industrial Trust during the 4th quarter valued at $90,000. Institutional investors own 93.52% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. JMP Securities restated a "market perform" rating on shares of LXP Industrial Trust in a research report on Monday, May 5th. KeyCorp decreased their target price on LXP Industrial Trust from $11.00 to $10.00 and set an "overweight" rating on the stock in a research report on Friday, May 2nd. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $11.00.

LXP Industrial Trust Price Performance

Shares of LXP stock traded up $0.25 during mid-day trading on Tuesday, reaching $8.48. The company's stock had a trading volume of 3,194,060 shares, compared to its average volume of 2,274,065. The firm's 50-day moving average is $8.11 and its two-hundred day moving average is $8.50. The company has a market cap of $2.51 billion, a P/E ratio of 65.24 and a beta of 1.02. LXP Industrial Trust has a 1-year low of $6.85 and a 1-year high of $10.57. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.16 and a current ratio of 0.16.

LXP Industrial Trust (NYSE:LXP - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The real estate investment trust reported $0.16 earnings per share (EPS) for the quarter, hitting the consensus estimate 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 company's quarterly revenue was up 3.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.16 earnings per share. On average, research analysts predict that LXP Industrial Trust will post 0.63 earnings per share for the current year.

LXP Industrial Trust Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 31st were given a dividend of $0.135 per share. The ex-dividend date was Monday, March 31st. This represents a $0.54 annualized dividend and a dividend yield of 6.37%. LXP Industrial Trust's dividend payout ratio (DPR) is presently 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.