Wellington Management Group LLP Decreases Stake in LXP Industrial Trust $LXP

Key Points

• Wellington Management reduced its LXP Industrial Trust stake by 18.8%, selling 96,055 shares and retaining 413,830 shares valued at approximately $22.3 million. Institutional investors collectively own 93.52% of LXP.
• Analyst sentiment is mixed, with ratings ranging from “sell” to “outperform”; the overall consensus is “Hold” with a price target of $57.40.
• LXP exceeded quarterly earnings and revenue expectations, reporting $0.84 EPS and $88.11 million in revenue. The REIT also pays a quarterly dividend of $0.70, representing a 4.6% annualized yield.

Wellington Management Group LLP reduced its holdings in shares of LXP Industrial Trust (NYSE:LXP - Free Report) by 18.8% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 413,830 shares of the real estate investment trust's stock after selling 96,055 shares during the quarter. Wellington Management Group LLP owned 0.70% of LXP Industrial Trust worth $22,297,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of LXP. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position 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 worth $1,496,000 after buying an additional 7,577 shares during the last quarter. Dynamic Technology Lab Private Ltd purchased a new stake in shares of LXP Industrial Trust during the 1st quarter valued at about $129,000. Goldman Sachs Group Inc. boosted 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 valued at $32,159,000 after acquiring an additional 458,195 shares during the last quarter. United Services Automobile Association bought a new stake in shares of LXP Industrial Trust in the first quarter worth approximately $158,000. Finally, Jane Street Group LLC grew its stake 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 period. 93.52% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on LXP shares. Evercore set a $54.00 price objective on shares of LXP Industrial Trust in a research report on Monday, June 8th. BMO Capital Markets initiated coverage on shares of LXP Industrial Trust in a research note on Thursday, July 9th. They set an "outperform" rating and a $65.00 target price for the company. Wall Street Zen cut LXP Industrial Trust from a "hold" rating to a "sell" rating in a report on Sunday, July 12th. KeyCorp restated a "sector weight" rating on shares of LXP Industrial Trust in a research note on Tuesday, June 9th. Finally, Citigroup reaffirmed an "outperform" rating on shares of LXP Industrial Trust in a report on Thursday, July 16th. Two equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat, LXP Industrial Trust has a consensus rating of "Hold" and a consensus price target of $57.40.

LXP Industrial Trust Stock Performance

LXP opened at $60.80 on Friday. The company has a current ratio of 0.10, a quick ratio of 0.10 and a debt-to-equity ratio of 0.19. The company has a market cap of $3.58 billion, a price-to-earnings ratio of 60.80 and a beta of 1.02. The company's 50 day moving average is $59.22 and its 200 day moving average is $53.30. LXP Industrial Trust has a 12-month low of $43.97 and a 12-month high of $61.61.

LXP Industrial Trust (NYSE:LXP - Get Free Report) last announced 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. LXP Industrial Trust had a net margin of 18.66% and a return on equity of 3.37%. The business had revenue of $88.11 million during the quarter, compared to analysts' expectations of $85.37 million. During the same period in the prior year, the company earned $0.16 earnings per share. The firm's revenue was up .4% on a year-over-year basis. On average, equities research analysts predict that LXP Industrial Trust will post 3.35 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. Stockholders of record on Tuesday, June 30th were paid a $0.70 dividend. This represents a $2.80 annualized dividend and a dividend yield of 4.6%. The ex-dividend date was Tuesday, June 30th. LXP Industrial Trust's dividend payout ratio is 280.00%.

About LXP Industrial Trust

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.

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