Shikiar Asset Management Inc. Has $2.97 Million Position in LXP Industrial Trust $LXP

Key Points

• Shikiar Asset Management Inc. increased its holdings in LXP Industrial Trust by 13.3%, owning 359,300 shares worth approximately $2.97 million by the end of the last reporting period.
• LXP Industrial Trust's stock recently fell by 2.5%, with a current price of $8.98 and a market cap of $2.66 billion.
• The company announced a quarterly dividend of $0.135 per share, yielding 6.0%, with a dividend payout ratio of 192.86%.

Shikiar Asset Management Inc. lifted its holdings in shares of LXP Industrial Trust (NYSE:LXP - Free Report) by 13.3% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 359,300 shares of the real estate investment trust's stock after purchasing an additional 42,050 shares during the period. Shikiar Asset Management Inc. owned 0.12% of LXP Industrial Trust worth $2,968,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in LXP. Vanguard Group Inc. lifted its position in LXP Industrial Trust by 0.5% during the 1st quarter. Vanguard Group Inc. now owns 46,064,359 shares of the real estate investment trust's stock worth $398,457,000 after buying an additional 214,696 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of LXP Industrial Trust by 7.6% in the first quarter. Charles Schwab Investment Management Inc. now owns 5,738,916 shares of the real estate investment trust's stock worth $49,642,000 after acquiring an additional 407,059 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. lifted its position in shares of LXP Industrial Trust by 55.9% during the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 4,836,743 shares of the real estate investment trust's stock worth $41,838,000 after purchasing an additional 1,733,329 shares in the last quarter. Centersquare Investment Management LLC grew its stake in shares of LXP Industrial Trust by 1,103.9% during the first quarter. Centersquare Investment Management LLC now owns 4,271,470 shares of the real estate investment trust's stock valued at $36,948,000 after purchasing an additional 3,916,670 shares during the last quarter. Finally, Northern Trust Corp increased its holdings in shares of LXP Industrial Trust by 0.3% in the first quarter. Northern Trust Corp now owns 4,215,880 shares of the real estate investment trust's stock valued at $36,467,000 after purchasing an additional 14,456 shares in the last quarter. 93.52% of the stock is owned by institutional investors.

LXP Industrial Trust Stock Down 2.5%

NYSE:LXP opened at $8.98 on Friday. The company has a quick ratio of 0.13, a current ratio of 0.13 and a debt-to-equity ratio of 0.18. LXP Industrial Trust has a 12-month low of $6.85 and a 12-month high of $9.95. The stock's fifty day simple moving average is $8.84 and its 200-day simple moving average is $8.45. The firm has a market capitalization of $2.66 billion, a P/E ratio of 32.06 and a beta of 1.05.

LXP Industrial Trust (NYSE:LXP - Get Free Report) last released its quarterly earnings data on Wednesday, July 30th. The real estate investment trust reported $0.16 EPS for the quarter, meeting analysts' consensus estimates of $0.16. LXP Industrial Trust had a return on equity of 4.34% and a net margin of 24.07%.The business had revenue of $86.74 million during the quarter, compared to the consensus estimate of $87.25 million. During the same quarter in the prior year, the company posted $0.16 earnings per share. The firm's revenue was up 2.2% on a year-over-year basis. LXP Industrial Trust has set its FY 2025 guidance at 0.620-0.640 EPS. Equities research analysts expect that LXP Industrial Trust will post 0.63 earnings per share for the current year.

LXP Industrial Trust Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Tuesday, September 30th will be paid a dividend of $0.135 per share. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $0.54 annualized dividend and a yield of 6.0%. LXP Industrial Trust's dividend payout ratio (DPR) is presently 192.86%.

Analysts Set New Price Targets

LXP has been the topic of several research reports. Weiss Ratings reaffirmed a "hold (c)" rating on shares of LXP Industrial Trust in a report on Wednesday. Evercore ISI upped their price target on LXP Industrial Trust from $10.00 to $11.00 and gave the company an "in-line" rating in a research note on Monday. Finally, Wolfe Research initiated coverage on LXP Industrial Trust in a report on Friday, August 22nd. They issued an "outperform" rating and a $10.00 price target on the stock. Two research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. Based on data from MarketBeat, LXP Industrial Trust currently has an average rating of "Hold" and a consensus target price of $10.33.

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.

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