Shikiar Asset Management Inc. Grows Holdings in LXP Industrial Trust (NYSE:LXP)

Shikiar Asset Management Inc. lifted its position in LXP Industrial Trust (NYSE:LXP - Free Report) by 22.2% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 317,250 shares of the real estate investment trust's stock after purchasing an additional 57,550 shares during the quarter. Shikiar Asset Management Inc. owned 0.11% of LXP Industrial Trust worth $2,744,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of the company. GF Fund Management CO. LTD. bought a new stake in LXP Industrial Trust in the 4th quarter worth approximately $43,000. Sterling Capital Management LLC raised its stake in shares of LXP Industrial Trust by 805.0% during the fourth quarter. Sterling Capital Management LLC now owns 9,159 shares of the real estate investment trust's stock worth $74,000 after acquiring an additional 8,147 shares in the last quarter. Wealthfront Advisers LLC purchased a new position in shares of LXP Industrial Trust during the fourth quarter worth approximately $80,000. Townsquare Capital LLC bought a new stake in shares of LXP Industrial Trust in the 4th quarter worth approximately $82,000. Finally, Proficio Capital Partners LLC purchased a new stake in shares of LXP Industrial Trust in the 4th quarter valued at $83,000. 93.52% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

LXP has been the topic of a number of analyst reports. KeyCorp decreased their target price on shares of 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. JMP Securities reiterated a "market perform" rating on shares of LXP Industrial Trust in a report on Monday, May 5th.

LXP Industrial Trust Trading Up 1.6%

LXP stock traded up $0.14 during midday trading on Thursday, hitting $8.69. The company had a trading volume of 3,949,807 shares, compared to its average volume of 2,313,475. The stock has a market cap of $2.57 billion, a price-to-earnings ratio of 43.43 and a beta of 1.06. 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 0.13, a quick ratio of 0.13 and a debt-to-equity ratio of 0.19. The stock's 50 day moving average price is $8.20 and its 200 day moving average price is $8.42.

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 EPS for the quarter, meeting analysts' consensus estimates of $0.16. The company 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%. The firm's revenue was up 3.0% compared to the same quarter last year. During the same period in the prior year, the business posted $0.16 EPS. As a group, equities research analysts expect that LXP Industrial Trust will post 0.63 earnings per share for the current fiscal year.

LXP Industrial Trust Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Monday, June 30th will be paid a $0.135 dividend. The ex-dividend date is Monday, June 30th. This represents a $0.54 annualized dividend and a dividend yield of 6.22%. LXP Industrial Trust's payout ratio is presently 270.00%.

LXP Industrial Trust Company 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.