Summit Investment Advisors Inc. Acquires 1,931 Shares of LXP Industrial Trust (NYSE:LXP)

Summit Investment Advisors Inc. boosted its stake in shares of LXP Industrial Trust (NYSE:LXP) by 6.8% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 30,409 shares of the real estate investment trust’s stock after acquiring an additional 1,931 shares during the quarter. Summit Investment Advisors Inc.’s holdings in LXP Industrial Trust were worth $247,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Sterling Capital Management LLC grew its stake in shares of LXP Industrial Trust by 805.0% during the fourth quarter. Sterling Capital Management LLC now owns 9,159 shares of the real estate investment trust’s stock valued at $74,000 after purchasing an additional 8,147 shares during the last quarter. Wealthfront Advisers LLC bought a new position in LXP Industrial Trust in the 4th quarter valued at $80,000. Townsquare Capital LLC bought a new position in LXP Industrial Trust in the 4th quarter valued at $82,000. Proficio Capital Partners LLC acquired a new stake in shares of LXP Industrial Trust in the 4th quarter valued at $83,000. Finally, Wealth Advisory Solutions LLC bought a new stake in shares of LXP Industrial Trust during the fourth quarter worth $91,000. Institutional investors and hedge funds own 93.52% of the company’s stock.

LXP Industrial Trust Stock Performance

Shares of LXP Industrial Trust stock opened at $7.60 on Tuesday. The firm has a fifty day moving average of $8.50 and a two-hundred day moving average of $8.75. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.16 and a current ratio of 0.16. The stock has a market capitalization of $2.25 billion, a price-to-earnings ratio of 58.47 and a beta of 0.95. LXP Industrial Trust has a 52 week low of $6.85 and a 52 week high of $10.57.

LXP Industrial Trust (NYSE:LXP) last released its quarterly earnings data on Thursday, February 13th. The real estate investment trust reported $0.16 EPS 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 the consensus estimate of $84.57 million. As a group, equities research analysts predict that LXP Industrial Trust will post 0.63 EPS for the current year.

LXP Industrial Trust Announces Dividend

The company also recently declared 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 was Monday, March 31st. This represents a $0.54 dividend on an annualized basis and a dividend yield of 7.11%. LXP Industrial Trust’s dividend payout ratio is 415.38%.

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 equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, LXP Industrial Trust presently has a consensus rating of “Hold” and an average price target 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.