Wellington Management Group LLP Sells 208,580 Shares of LXP Industrial Trust $LXP

Key Points

• Wellington Management Group LLP reduced its holdings in LXP Industrial Trust by 8.4%, selling 208,580 shares during the first quarter, bringing its total share ownership to 2,281,434.
• Several hedge funds increased their stakes in LXP Industrial Trust, with Sumitomo Mitsui Trust Group Inc. seeing a particularly notable increase of 55.9% during the same period.
• The company's recent reports show steady earnings, with LXP projecting a guidance of $0.620-0.640 earnings per share (EPS) for FY 2025, and a current dividend yield of 6.1% after paying $0.135 per share.

Wellington Management Group LLP decreased its holdings in shares of LXP Industrial Trust (NYSE:LXP - Free Report) by 8.4% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,281,434 shares of the real estate investment trust's stock after selling 208,580 shares during the quarter. Wellington Management Group LLP owned approximately 0.77% of LXP Industrial Trust worth $19,734,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. EQ Wealth Advisors LLC acquired a new position in LXP Industrial Trust during the first quarter worth $30,000. Headlands Technologies LLC bought a new stake in LXP Industrial Trust during the first quarter worth $46,000. GF Fund Management CO. LTD. bought a new stake in LXP Industrial Trust during the fourth quarter worth $43,000. Brooklyn Investment Group raised its position in LXP Industrial Trust by 276.3% during the first quarter. Brooklyn Investment Group now owns 5,479 shares of the real estate investment trust's stock worth $47,000 after acquiring an additional 4,023 shares in the last quarter. Finally, Signaturefd LLC raised its position in LXP Industrial Trust by 678.3% during the first quarter. Signaturefd LLC now owns 6,281 shares of the real estate investment trust's stock worth $54,000 after acquiring an additional 5,474 shares in the last quarter. Institutional investors and hedge funds own 93.52% of the company's stock.

Analysts Set New Price Targets

Several research firms have issued reports on LXP. KeyCorp dropped their price target 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. Wolfe Research began coverage on shares of LXP Industrial Trust in a research report on Friday, August 22nd. They set an "outperform" rating and a $10.00 price target on the stock. Finally, JMP Securities reaffirmed a "market perform" rating on shares of LXP Industrial Trust in a research report on Monday, May 5th. Two research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $10.33.

LXP Industrial Trust Stock Performance

Shares of LXP stock traded up $0.01 on Friday, hitting $9.09. The company's stock had a trading volume of 2,179,826 shares, compared to its average volume of 2,955,090. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.13 and a current ratio of 0.13. The stock's 50 day moving average is $8.35 and its 200-day moving average is $8.39. LXP Industrial Trust has a fifty-two week low of $6.85 and a fifty-two week high of $10.44. The company has a market capitalization of $2.69 billion, a PE ratio of 32.45 and a beta of 1.01.

LXP Industrial Trust (NYSE:LXP - Get Free Report) last released its quarterly earnings results on Wednesday, July 30th. The real estate investment trust reported $0.16 EPS for the quarter, meeting the consensus estimate of $0.16. LXP Industrial Trust had a net margin of 24.07% and a return on equity of 4.34%. The business had revenue of $86.74 million for the quarter, compared to the consensus estimate of $87.25 million. During the same period in the prior year, the company posted $0.16 earnings per share. LXP Industrial Trust's revenue was up 2.2% compared to the same quarter last year. 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 fiscal year.

LXP Industrial Trust Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th were paid a dividend of $0.135 per share. This represents a $0.54 dividend on an annualized basis and a yield of 5.9%. The ex-dividend date was Monday, June 30th. LXP Industrial Trust's dividend payout ratio is presently 192.86%.

LXP Industrial Trust 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.