VIRGINIA RETIREMENT SYSTEMS ET Al Acquires New Shares in LXP Industrial Trust $LXP

Key Points

• Virginia Retirement Systems acquired 108,650 shares of LXP Industrial Trust in the second quarter, valued at approximately $5.85 million, giving it a 0.18% stake. Institutional investors collectively own 93.52% of the company.
• LXP reported quarterly EPS of $0.84, slightly above estimates of $0.83, while revenue reached $88.11 million versus expectations of $85.37 million. The company’s stock opened at $60.77, near its 52-week high of $61.61.
• LXP declared a quarterly dividend of $0.70 per share, equivalent to an annualized $2.80 payout and a 4.6% yield. Analysts have a consensus “Hold” rating and an average price target of $57.40.

VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in LXP Industrial Trust (NYSE:LXP - Free Report) in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 108,650 shares of the real estate investment trust's stock, valued at approximately $5,854,000. VIRGINIA RETIREMENT SYSTEMS ET Al owned 0.18% of LXP Industrial Trust at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Nissay Asset Management Corp Japan increased its position in LXP Industrial Trust by 1.9% during the 2nd quarter. Nissay Asset Management Corp Japan now owns 9,247 shares of the real estate investment trust's stock valued at $498,000 after purchasing an additional 173 shares during the period. IFP Advisors Inc lifted its position in shares of LXP Industrial Trust by 63.8% in the 4th quarter. IFP Advisors Inc now owns 837 shares of the real estate investment trust's stock worth $41,000 after purchasing an additional 326 shares during the period. Cetera Investment Advisers lifted its position in shares of LXP Industrial Trust by 5.2% in the 1st quarter. Cetera Investment Advisers now owns 14,905 shares of the real estate investment trust's stock worth $689,000 after purchasing an additional 743 shares during the period. Pictet Asset Management Holding SA boosted its stake in shares of LXP Industrial Trust by 11.6% during the first quarter. Pictet Asset Management Holding SA now owns 9,698 shares of the real estate investment trust's stock valued at $449,000 after purchasing an additional 1,009 shares in the last quarter. Finally, Resona Asset Management Co. Ltd. boosted its stake in shares of LXP Industrial Trust by 4.7% during the first quarter. Resona Asset Management Co. Ltd. now owns 26,174 shares of the real estate investment trust's stock valued at $1,213,000 after purchasing an additional 1,164 shares in the last quarter. 93.52% of the stock is currently owned by institutional investors.

LXP Industrial Trust Stock Down 0.0%

NYSE:LXP opened at $60.77 on Wednesday. The company's 50-day simple moving average is $59.47 and its 200-day simple moving average is $53.51. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.10 and a current ratio of 0.10. LXP Industrial Trust has a fifty-two week low of $43.97 and a fifty-two week high of $61.61. The stock has a market capitalization of $3.58 billion, a P/E ratio of 60.77 and a beta of 1.02.

LXP Industrial Trust (NYSE:LXP - Get Free Report) last posted its quarterly earnings data on Wednesday, July 29th. The real estate investment trust reported $0.84 EPS for the quarter, topping the consensus estimate of $0.83 by $0.01. LXP Industrial Trust had a net margin of 18.66% and a return on equity of 3.37%. The firm had revenue of $88.11 million during the quarter, compared to analyst estimates of $85.37 million. During the same quarter in the previous year, the business posted $0.16 EPS. LXP Industrial Trust's revenue was up .4% on a year-over-year basis. On average, equities analysts anticipate that LXP Industrial Trust will post 3.35 earnings per share for the current fiscal year.

LXP Industrial Trust Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th were given a dividend of $0.70 per share. The ex-dividend date of this dividend was Tuesday, June 30th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 4.6%. LXP Industrial Trust's dividend payout ratio is presently 280.00%.

Analyst Upgrades and Downgrades

LXP has been the subject of a number of recent research reports. Jefferies Financial Group downgraded shares of LXP Industrial Trust from a "buy" rating to a "hold" rating and reduced their price objective for the stock from $62.00 to $61.00 in a research note on Thursday, August 6th. BMO Capital Markets initiated coverage on LXP Industrial Trust in a research report on Thursday, July 9th. They set an "outperform" rating and a $65.00 target price on the stock. Weiss Ratings upgraded LXP Industrial Trust from a "hold (c)" rating to a "hold (c+)" rating in a report on Monday, June 15th. Citizens Jmp lowered LXP Industrial Trust from a "market outperform" rating to a "hold" rating in a research report on Tuesday, July 21st. Finally, Raymond James Financial assumed coverage on LXP Industrial Trust in a research note on Wednesday, June 17th. They set a "market perform" rating for the company. Two research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $57.40.

LXP Industrial Trust 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.

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