OVERSEA CHINESE BANKING Corp Ltd Takes Position in LXP Industrial Trust $LXP

Key Points

• Oversea-Chinese Banking Corp. initiated a position in LXP Industrial Trust during the second quarter, purchasing 17,444 shares valued at approximately $940,000. Institutional investors collectively own 93.52% of LXP’s outstanding stock.
• LXP reported quarterly EPS of $0.84, narrowly exceeding estimates of $0.83, while revenue reached $88.11 million versus the $85.37 million consensus estimate.
• The company pays a quarterly dividend of $0.70, equivalent to an annualized $2.80 and a 4.6% yield. Analysts maintain a consensus “Hold” rating with an average price target of $57.40, below the reported $60.92 share price.

OVERSEA CHINESE BANKING Corp Ltd bought a new stake in LXP Industrial Trust (NYSE:LXP - Free Report) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 17,444 shares of the real estate investment trust's stock, valued at approximately $940,000.

Several other large investors have also recently added to or reduced their stakes in LXP. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in LXP Industrial Trust by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 172,981 shares of the real estate investment trust's stock valued at $1,496,000 after buying an additional 7,577 shares during the period. Dynamic Technology Lab Private Ltd purchased a new position in shares of LXP Industrial Trust during the 1st quarter worth about $129,000. Goldman Sachs Group Inc. lifted its holdings in shares of LXP Industrial Trust by 14.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 3,717,830 shares of the real estate investment trust's stock worth $32,159,000 after acquiring an additional 458,195 shares during the period. United Services Automobile Association acquired a new stake in shares of LXP Industrial Trust in the first quarter worth approximately $158,000. Finally, Jane Street Group LLC boosted its position in shares of LXP Industrial Trust by 6,092.1% in the first quarter. Jane Street Group LLC now owns 948,134 shares of the real estate investment trust's stock worth $8,201,000 after acquiring an additional 932,822 shares during the last quarter. 93.52% of the stock is currently owned by hedge funds and other institutional investors.

LXP Industrial Trust Price Performance

LXP Industrial Trust stock opened at $60.92 on Friday. LXP Industrial Trust has a 52-week low of $43.27 and a 52-week high of $61.61. The firm has a fifty day moving average of $57.80 and a 200-day moving average of $52.56. The firm has a market capitalization of $3.59 billion, a P/E ratio of 60.92 and a beta of 1.02. The company has a quick ratio of 0.10, a current ratio of 0.10 and a debt-to-equity ratio of 0.19.

LXP Industrial Trust (NYSE:LXP - Get Free Report) last issued its earnings results on Wednesday, July 29th. The real estate investment trust reported $0.84 EPS for the quarter, beating analysts' consensus estimates of $0.83 by $0.01. The business had revenue of $88.11 million for the quarter, compared to the consensus estimate of $85.37 million. LXP Industrial Trust had a net margin of 18.66% and a return on equity of 3.37%. The business's revenue for the quarter was up .4% compared to the same quarter last year. During the same quarter last year, the firm posted $0.16 EPS. As a group, analysts predict that LXP Industrial Trust will post 3.34 EPS for the current year.

LXP Industrial Trust Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th were given a $0.70 dividend. The ex-dividend date of this dividend was Tuesday, June 30th. This represents a $2.80 annualized dividend and a yield of 4.6%. LXP Industrial Trust's dividend payout ratio (DPR) is 280.00%.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. BMO Capital Markets started coverage on shares of LXP Industrial Trust in a research report on Thursday, July 9th. They set an "outperform" rating and a $65.00 price target for the company. Citizens Jmp cut LXP Industrial Trust from a "market outperform" rating to a "hold" rating in a report on Tuesday, July 21st. KeyCorp reissued a "sector weight" rating on shares of LXP Industrial Trust in a research report on Tuesday, June 9th. Evercore set a $54.00 price target on LXP Industrial Trust in a research note on Monday, June 8th. Finally, Weiss Ratings upgraded LXP Industrial Trust from a "hold (c)" rating to a "hold (c+)" rating in a report on Monday, June 15th. Two analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat.com, LXP Industrial Trust currently has an average rating of "Hold" and an average price target of $57.40.

LXP Industrial Trust Company Profile

LXP Industrial Trust is a real estate investment trust that specializes in the ownership, acquisition and management of industrial properties across North America. The company's portfolio consists of warehouses, distribution centers and manufacturing facilities designed to support supply-chain and logistics operations. By focusing on long-term leasing arrangements, LXP Industrial Trust aims to provide stable income streams while delivering value to tenants through modern, well-positioned industrial space.

The firm's primary business activities include sourcing and under-writing new property investments, overseeing development and redevelopment projects, and implementing asset-management strategies to enhance the performance of its holdings.

Want to see what other hedge funds are holding LXP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for LXP Industrial Trust (NYSE:LXP - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source