Adage Capital Partners GP L.L.C. Purchases 700,000 Shares of LXP Industrial Trust (NYSE:LXP)

Adage Capital Partners GP L.L.C. increased its stake in shares of LXP Industrial Trust (NYSE:LXP - Free Report) by 60.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,850,000 shares of the real estate investment trust's stock after buying an additional 700,000 shares during the quarter. Adage Capital Partners GP L.L.C. owned 0.63% of LXP Industrial Trust worth $15,022,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of LXP. Syon Capital LLC acquired a new stake in shares of LXP Industrial Trust in the 4th quarter valued at $161,000. Price T Rowe Associates Inc. MD boosted its position in LXP Industrial Trust by 10.7% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 198,119 shares of the real estate investment trust's stock valued at $1,609,000 after buying an additional 19,126 shares in the last quarter. Pinebridge Investments L.P. grew its stake in LXP Industrial Trust by 4.3% during the fourth quarter. Pinebridge Investments L.P. now owns 70,838 shares of the real estate investment trust's stock worth $575,000 after buying an additional 2,930 shares during the last quarter. Hsbc Holdings PLC increased its holdings in shares of LXP Industrial Trust by 24.9% during the fourth quarter. Hsbc Holdings PLC now owns 288,826 shares of the real estate investment trust's stock worth $2,343,000 after buying an additional 57,597 shares in the last quarter. Finally, Van Lanschot Kempen Investment Management N.V. bought a new position in shares of LXP Industrial Trust in the fourth quarter valued at approximately $4,440,000. Institutional investors and hedge funds own 93.52% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, JMP Securities reiterated a "market perform" rating on shares of LXP Industrial Trust in a research report on Friday, February 14th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $11.33.

LXP Industrial Trust Trading Up 1.7 %

Shares of NYSE LXP traded up $0.14 during midday trading on Thursday, hitting $8.03. The stock had a trading volume of 2,398,271 shares, compared to its average volume of 2,485,733. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.16 and a quick ratio of 0.16. LXP Industrial Trust has a fifty-two week low of $6.85 and a fifty-two week high of $10.56. The firm has a market cap of $2.37 billion, a P/E ratio of 61.74 and a beta of 0.95. The company's 50-day simple moving average is $8.40 and its 200 day simple moving average is $8.68.

LXP Industrial Trust (NYSE:LXP - Get Free Report) last issued its earnings results on Thursday, May 1st. The real estate investment trust reported $0.16 earnings per share (EPS) for the quarter, meeting 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 for the quarter, compared to analyst estimates of $84.72 million. During the same quarter last year, the firm earned $0.16 EPS. The company's revenue for the quarter was up 3.0% on a year-over-year basis. Research analysts anticipate that LXP Industrial Trust will post 0.63 EPS for the current year.

LXP Industrial Trust Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders 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 dividend yield of 6.73%. LXP Industrial Trust's dividend payout ratio is currently 415.38%.

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.