Northern Trust Corp Purchases 633,054 Shares of LXP Industrial Trust (NYSE:LXP)

Northern Trust Corp lifted its position in shares of LXP Industrial Trust (NYSE:LXP - Free Report) by 17.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,201,424 shares of the real estate investment trust's stock after acquiring an additional 633,054 shares during the quarter. Northern Trust Corp owned approximately 1.43% of LXP Industrial Trust worth $34,116,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Norges Bank bought a new position in LXP Industrial Trust during the 4th quarter worth $40,114,000. Aew Capital Management L P grew its stake in shares of LXP Industrial Trust by 72.5% in the 4th quarter. Aew Capital Management L P now owns 5,815,781 shares of the real estate investment trust's stock valued at $47,224,000 after buying an additional 2,445,084 shares during the period. Evergreen Capital Management LLC boosted its stake in LXP Industrial Trust by 1,993.3% during the 4th quarter. Evergreen Capital Management LLC now owns 902,167 shares of the real estate investment trust's stock valued at $7,447,000 after purchasing an additional 859,069 shares during the last quarter. Sei Investments Co. boosted its stake in LXP Industrial Trust by 113.7% during the 4th quarter. Sei Investments Co. now owns 1,555,297 shares of the real estate investment trust's stock valued at $12,629,000 after purchasing an additional 827,657 shares during the last quarter. Finally, Adage Capital Partners GP L.L.C. boosted its stake in LXP Industrial Trust by 60.9% during the 4th quarter. Adage Capital Partners GP L.L.C. now owns 1,850,000 shares of the real estate investment trust's stock valued at $15,022,000 after purchasing an additional 700,000 shares during the last quarter. Institutional investors and hedge funds own 93.52% of the company's stock.

Analyst Ratings Changes

LXP has been the subject of a number of analyst reports. JMP Securities reiterated a "market perform" rating on shares of LXP Industrial Trust in a research note on Monday, May 5th. KeyCorp cut their target price on LXP Industrial Trust from $11.00 to $10.00 and set an "overweight" rating on the stock in a research note on Friday, May 2nd. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, LXP Industrial Trust presently has an average rating of "Moderate Buy" and a consensus price target of $11.00.

LXP Industrial Trust Price Performance

NYSE:LXP traded up $0.03 during midday trading on Friday, hitting $8.38. The company had a trading volume of 615,889 shares, compared to its average volume of 2,225,081. LXP Industrial Trust has a 52-week low of $6.85 and a 52-week high of $10.57. The stock's fifty day moving average price is $8.22 and its 200-day moving average price is $8.56. The company has a market capitalization of $2.48 billion, a PE ratio of 64.43 and a beta of 1.02. 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 earnings results on Thursday, May 1st. The real estate investment trust reported $0.16 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.16. LXP Industrial Trust had a net margin of 12.40% and a return on equity of 2.15%. The company had revenue of $87.89 million during the quarter, compared to analyst estimates of $84.72 million. During the same period in the previous year, the business earned $0.16 earnings per share. The firm's quarterly revenue was up 3.0% compared to the same quarter last year. As a group, research analysts expect that LXP Industrial Trust will post 0.63 earnings per share for the current year.

LXP Industrial Trust Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 31st were given a $0.135 dividend. The ex-dividend date of this dividend was Monday, March 31st. This represents a $0.54 annualized dividend and a yield of 6.45%. LXP Industrial Trust's dividend payout ratio (DPR) is presently 270.00%.

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.