LXP Industrial Trust (NYSE:LXP) manager buys $25,166.10 worth of stock
LXP Industrial Trust (NYSE:LXP – Get a rating) Director Lawrence L. Gray bought 2,235 shares in a trade dated Wednesday, May 11. The shares were purchased at an average cost of $11.26 per share, for a total transaction of $25,166.10. Following completion of the transaction, the administrator now directly owns 71,844 shares of the company, valued at $808,963.44. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available via this link.
Shares of LXP Industrial Trust Shares opened at $11.06 on Thursday. LXP Industrial Trust has a 1 year minimum of $10.95 and a 1 year maximum of $16.10. The company has a market capitalization of $3.18 billion, a PE ratio of 9.14, a P/E/G ratio of 8.12 and a beta of 0.74. The stock has a fifty-day moving average price of $14.22 and a 200-day moving average price of $14.71. The company has a debt ratio of 0.19, a current ratio of 0.10 and a quick ratio of 0.22.
LXP Industrial Trust (NYSE:LXP – Get a rating) last announced its results on Thursday, May 5. The real estate investment trust reported earnings per share (EPS) of $0.03 for the quarter, beating the consensus estimate of $0.01 by $0.02. LXP Industrial Trust had a return on equity of 16.80% and a net margin of 106.18%. The company posted revenue of $80.30 million in the quarter, compared to analyst estimates of $80.69 million. During the same period last year, the company posted EPS of $0.22. The company’s revenues were down 13.3% from the same quarter last year. As a group, equity analysts expect LXP Industrial Trust to post EPS of 0.65 for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Monday, April 18. Shareholders of record on Thursday, March 31 received a dividend of $0.12 per share. This represents an annualized dividend of $0.48 and a dividend yield of 4.34%. The ex-dividend date was Wednesday, March 30. LXP Industrial Trust’s dividend payout ratio is currently 39.67%.
A number of brokerages have weighed in on LXP recently. TheStreet downgraded LXP Industrial Trust from a ‘b’ rating to a ‘c+’ rating in a Thursday, May 5 research report. Zacks Investment Research downgraded LXP Industrial Trust from a “hold” rating to a “sell” rating in a research report on Thursday. Bank of America began covering LXP Industrial Trust in a research report on Monday, April 18. They issued an “underperforming” rating and a price target of $14.00 for the company. To finish, StockNews.com began covering LXP Industrial Trust in a research report on Thursday, March 31. They issued a “holding” rating for the company. Two research analysts gave the stock a sell rating, two gave the company a hold rating and two gave the company a buy rating. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $15.40.
Several institutional investors have recently changed their positions in the company. State Street Corp increased its position in LXP Industrial Trust shares by 6.9% during the 4th quarter. State Street Corp now owns 15,309,839 shares of the real estate investment trust valued at $240,960,000 after buying an additional 991,811 shares in the last quarter. Land & Buildings Investment Management LLC increased its stake in shares of LXP Industrial Trust by 266.7% during the 3rd quarter. Land & Buildings Investment Management LLC now owns 6,778,400 shares of the real estate investment trust worth $86,425,000 after acquiring an additional 4,929,830 shares during the period. Geode Capital Management LLC increased its stake in the shares of LXP Industrial Trust by 8.3% during the 4th quarter. Geode Capital Management LLC now owns 5,662,970 shares of the real estate investment trust worth $88,455,000 after acquiring an additional 431,792 shares during the period. Long Pond Capital LP bought a new position in shares of LXP Industrial Trust during Q3 for a value of $68,466,000. Finally, Charles Schwab Investment Management Inc. increased its stake in the shares of LXP Industrial Trust by 2.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,859,542 shares of the real estate investment trust worth $60,286,000 after acquiring an additional 93,869 shares during the period. 98.07% of the shares are held by hedge funds and other institutional investors.
About LXP Industrial Trust (Get a rating)
Lexington Realty Trust (NYSE: LXP) is a publicly traded real estate investment trust (REIT) that holds a portfolio of real estate assets consisting primarily of equity investments in single-tenant net leased industrial properties in the United States. Lexington seeks to expand its industrial portfolio through custom build transactions, sale-leaseback transactions and other transactions, including acquisitions.
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