Kennedy Capital Management LLC Invests $4 Million in LXP Industrial Trust (NYSE:LXP)

Kennedy Capital Management LLC bought a new stake in LXP Industrial Trust (NYSE:LXP - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 492,080 shares of the real estate investment trust's stock, valued at approximately $3,996,000. Kennedy Capital Management LLC owned about 0.17% of LXP Industrial Trust at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of LXP. Cutler Capital Management LLC raised its holdings in LXP Industrial Trust by 4.1% during the fourth quarter. Cutler Capital Management LLC now owns 267,481 shares of the real estate investment trust's stock worth $2,172,000 after purchasing an additional 10,500 shares in the last quarter. Raymond James Financial Inc. acquired a new position in LXP Industrial Trust during the 4th quarter worth approximately $359,000. Greenland Capital Management LP purchased a new position in shares of LXP Industrial Trust during the 4th quarter worth approximately $815,000. Renaissance Technologies LLC lifted its holdings in shares of LXP Industrial Trust by 10.4% in the 4th quarter. Renaissance Technologies LLC now owns 1,584,470 shares of the real estate investment trust's stock valued at $12,866,000 after buying an additional 149,388 shares during the period. Finally, FIL Ltd boosted its stake in shares of LXP Industrial Trust by 102.4% in the fourth quarter. FIL Ltd now owns 12,640 shares of the real estate investment trust's stock valued at $103,000 after buying an additional 6,396 shares in the last quarter. Institutional investors and hedge funds own 93.52% of the company's stock.

LXP Industrial Trust Price Performance

Shares of LXP traded up $0.04 on Friday, reaching $7.76. The stock had a trading volume of 2,754,228 shares, compared to its average volume of 2,228,561. The firm has a 50-day moving average of $8.52 and a 200 day moving average of $8.79. The firm has a market capitalization of $2.29 billion, a PE ratio of 59.67 and a beta of 0.95. LXP Industrial Trust has a twelve month low of $6.85 and a twelve month high of $10.57. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.21.

LXP Industrial Trust (NYSE:LXP - Get Free Report) last announced its quarterly earnings results on Thursday, February 13th. The real estate investment trust reported $0.16 earnings per share for the quarter, beating analysts' consensus estimates of ($0.02) by $0.18. LXP Industrial Trust had a return on equity of 2.15% and a net margin of 12.40%. The business had revenue of $100.85 million during the quarter, compared to analysts' expectations of $84.57 million. Sell-side analysts expect that LXP Industrial Trust will post 0.63 EPS for the current year.

LXP Industrial Trust Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st were issued a $0.135 dividend. This represents a $0.54 annualized dividend and a dividend yield of 6.96%. The ex-dividend date was Monday, March 31st. LXP Industrial Trust's dividend payout ratio (DPR) is presently 415.38%.

Wall Street Analysts Forecast Growth

Separately, JMP Securities reissued a "market perform" rating on shares of LXP Industrial Trust in a report on Friday, February 14th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $11.33.

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.