Exchange Traded Concepts LLC Cuts Stake in LXP Industrial Trust (NYSE:LXP)

Exchange Traded Concepts LLC trimmed its position in LXP Industrial Trust (NYSE:LXP) by 8.8% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 170,426 shares of the real estate investment trust’s stock after selling 16,466 shares during the period. Exchange Traded Concepts LLC owned about 0.06% of LXP Industrial Trust worth $1,474,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the stock. GF Fund Management CO. LTD. bought a new stake in LXP Industrial Trust during the 4th quarter valued at approximately $43,000. Sterling Capital Management LLC grew its holdings in LXP Industrial Trust by 805.0% during the 4th quarter. Sterling Capital Management LLC now owns 9,159 shares of the real estate investment trust’s stock valued at $74,000 after buying an additional 8,147 shares in the last quarter. Wealthfront Advisers LLC purchased a new position in LXP Industrial Trust during the 4th quarter valued at approximately $80,000. Townsquare Capital LLC purchased a new position in LXP Industrial Trust during the 4th quarter valued at approximately $82,000. Finally, Proficio Capital Partners LLC purchased a new position in LXP Industrial Trust during the 4th quarter valued at approximately $83,000. Institutional investors own 93.52% of the company’s stock.

LXP Industrial Trust Trading Up 1.6%

LXP opened at $8.69 on Thursday. The firm has a market cap of $2.57 billion, a price-to-earnings ratio of 43.43 and a beta of 1.06. The company has a current ratio of 0.13, a quick ratio of 0.13 and a debt-to-equity ratio of 0.19. LXP Industrial Trust has a 12 month low of $6.85 and a 12 month high of $10.57. The stock has a fifty day moving average price of $8.18 and a 200-day moving average price of $8.42.

LXP Industrial Trust (NYSE:LXP) last announced 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 return on equity of 3.13% and a net margin of 17.63%. The company had revenue of $87.89 million for the quarter, compared to analyst estimates of $84.72 million. During the same period in the prior year, the company posted $0.16 EPS. The firm’s quarterly revenue was up 3.0% compared to the same quarter last year. As a group, equities research analysts anticipate that LXP Industrial Trust will post 0.63 earnings per share for the current fiscal year.

LXP Industrial Trust Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th will be issued a $0.135 dividend. This represents a $0.54 dividend on an annualized basis and a dividend yield of 6.22%. The ex-dividend date of this dividend is Monday, June 30th. LXP Industrial Trust’s dividend payout ratio is presently 270.00%.

Analyst Ratings Changes

A number of equities analysts have recently commented on LXP shares. JMP Securities reiterated a “market perform” rating on shares of LXP Industrial Trust in a report on Monday, May 5th. KeyCorp dropped their target price on LXP Industrial Trust from $11.00 to $10.00 and set an “overweight” rating for the company in a report on Friday, May 2nd.

About LXP Industrial Trust

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.