LXP Industrial Trust (NYSE:LXP) Shares Cross Above Two Hundred Day Moving Average - What's Next?

Key Points

• LXP Industrial Trust shares crossed above their 200-day moving average, reaching $61.03 and last trading near $61.02, compared with a 200-day average of $55.47.
• Analyst sentiment remains cautious: LXP has an average rating of “Hold” from MarketBeat, with a consensus price target of $57.40; recent coverage included downgrades and a “Sell” rating.
• The REIT slightly exceeded quarterly expectations, reporting $0.84 in EPS versus $0.83 expected and revenue of $88.11 million versus $85.37 million. Institutional investors own a substantial 93.52% of the company’s stock.

LXP Industrial Trust (NYSE:LXP - Get Free Report)'s stock price crossed above its two hundred day moving average during trading on Thursday. The stock has a two hundred day moving average of $55.47 and traded as high as $61.03. LXP Industrial Trust shares last traded at $61.0150, with a volume of 750,884 shares traded.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on LXP shares. Jefferies Financial Group cut LXP Industrial Trust from a "buy" rating to a "hold" rating and lowered their price target for the stock from $62.00 to $61.00 in a report on Thursday, August 6th. Raymond James Financial began coverage on LXP Industrial Trust in a report on Wednesday, June 17th. They issued a "market perform" rating on the stock. Weiss Ratings restated a "hold (c+)" rating on shares of LXP Industrial Trust in a research report on Friday, September 11th. Citizens Jmp downgraded LXP Industrial Trust from a "market outperform" rating to a "hold" rating in a research note on Tuesday, July 21st. Finally, Wall Street Zen lowered shares of LXP Industrial Trust from a "hold" rating to a "sell" rating in a research report on Sunday, July 12th. Two investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company's stock. According to data from MarketBeat, LXP Industrial Trust currently has an average rating of "Hold" and a consensus price target of $57.40.

LXP Industrial Trust Price Performance

The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.10 and a current ratio of 0.10. The company has a 50-day moving average of $60.81 and a 200-day moving average of $55.47. The stock has a market capitalization of $3.60 billion, a price-to-earnings ratio of 61.02 and a beta of 1.02.

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. The firm had revenue of $88.11 million for the quarter, compared to analysts' expectations of $85.37 million. LXP Industrial Trust had a return on equity of 3.37% and a net margin of 18.66%.LXP Industrial Trust's quarterly revenue was up .4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.16 EPS. As a group, equities research analysts expect that LXP Industrial Trust will post 3.34 earnings per share for the current fiscal year.

Institutional Trading of LXP Industrial Trust

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in LXP. Nissay Asset Management Corp Japan boosted its holdings in shares of LXP Industrial Trust by 1.9% during the second quarter. Nissay Asset Management Corp Japan now owns 9,247 shares of the real estate investment trust's stock worth $498,000 after purchasing an additional 173 shares during the last quarter. Sequoia Financial Advisors LLC increased its stake in LXP Industrial Trust by 4.4% in the second quarter. Sequoia Financial Advisors LLC now owns 5,344 shares of the real estate investment trust's stock valued at $288,000 after purchasing an additional 224 shares during the last quarter. GAMMA Investing LLC increased its stake in LXP Industrial Trust by 25.7% in the third quarter. GAMMA Investing LLC now owns 1,881 shares of the real estate investment trust's stock valued at $115,000 after purchasing an additional 385 shares during the last quarter. Farther Finance Advisors LLC lifted its position in LXP Industrial Trust by 141.9% during the third quarter. Farther Finance Advisors LLC now owns 1,132 shares of the real estate investment trust's stock worth $69,000 after buying an additional 664 shares during the period. Finally, Cetera Investment Advisers lifted its position in LXP Industrial Trust by 5.2% during the first quarter. Cetera Investment Advisers now owns 14,905 shares of the real estate investment trust's stock worth $689,000 after buying an additional 743 shares during the period. Hedge funds and other institutional investors own 93.52% of the company's stock.

LXP Industrial Trust Company Profile

LXP Industrial Trust is a real estate investment trust (REIT) that owns and operates primarily single-tenant industrial properties in the United States. Its portfolio is focused on facilities used for manufacturing, distribution, logistics, and other industrial purposes, which are generally leased to corporate and institutional tenants under long-term agreements.

The company generates rental income through the acquisition, ownership, leasing, and management of industrial real estate. LXP has emphasized expanding its presence in major U.S.

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