LXP Industrial Trust (NYSE:LXP) Sees Unusually-High Trading Volume – Time to Buy?

LXP Industrial Trust (NYSE:LXP) saw an uptick in trading volume on Wednesday . Approximately 1,136,478 shares changed hands during trading, an increase of 87% from the previous session’s volume of 606,408 shares.The stock last traded at $60.7350 and had previously closed at $60.77.

Analyst Upgrades and Downgrades

LXP has been the subject of several research analyst reports. Jefferies Financial Group downgraded LXP Industrial Trust from a “buy” rating to a “hold” rating and decreased their price objective for the company from $62.00 to $61.00 in a report on Thursday, August 6th. BMO Capital Markets began coverage on shares of LXP Industrial Trust in a research report on Thursday, July 9th. They issued an “outperform” rating and a $65.00 price target for the company. Citigroup reiterated an “outperform” rating on shares of LXP Industrial Trust in a research note on Thursday, July 16th. Weiss Ratings raised shares of LXP Industrial Trust from a “hold (c)” rating to a “hold (c+)” rating in a research report on Monday, June 15th. Finally, Wall Street Zen downgraded shares of LXP Industrial Trust from a “hold” rating to a “sell” rating in a research note on Sunday, July 12th. Two analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, LXP Industrial Trust currently has a consensus rating of “Hold” and an average price target of $57.40.

LXP Industrial Trust Trading Down 0.0%

The company has a quick ratio of 0.10, a current ratio of 0.10 and a debt-to-equity ratio of 0.19. The company has a fifty day moving average of $59.47 and a two-hundred day moving average of $53.51. The stock has a market capitalization of $3.58 billion, a price-to-earnings ratio of 60.77 and a beta of 1.02.

LXP Industrial Trust (NYSE:LXP) last announced its quarterly earnings data on Wednesday, July 29th. The real estate investment trust reported $0.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.83 by $0.01. The company had revenue of $88.11 million for the quarter, compared to analysts’ expectations of $85.37 million. LXP Industrial Trust had a net margin of 18.66% and a return on equity of 3.37%. LXP Industrial Trust’s revenue was up .4% compared to the same quarter last year. During the same period in the previous year, the company posted $0.16 EPS. On average, research analysts expect that LXP Industrial Trust will post 3.35 EPS for the current year.

LXP Industrial Trust Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th were paid a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 4.6%. The ex-dividend date was Tuesday, June 30th. LXP Industrial Trust’s payout ratio is 280.00%.

Institutional Investors Weigh In On LXP Industrial Trust

Hedge funds have recently added to or reduced their stakes in the company. Sequoia Financial Advisors LLC boosted its holdings in LXP Industrial Trust by 4.4% in the 2nd 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 in the last quarter. Engineers Gate Manager LP lifted its holdings in shares of LXP Industrial Trust by 395.2% in the 2nd quarter. Engineers Gate Manager LP now owns 27,732 shares of the real estate investment trust’s stock valued at $1,494,000 after buying an additional 22,132 shares during the period. Integrated Wealth Concepts LLC acquired a new stake in shares of LXP Industrial Trust in the 2nd quarter valued at approximately $46,000. Squarepoint Ops LLC purchased a new stake in shares of LXP Industrial Trust in the second quarter valued at approximately $259,000. Finally, Corient Private Wealth LP purchased a new stake in shares of LXP Industrial Trust in the second quarter valued at approximately $549,000. Institutional investors and hedge funds own 93.52% of the company’s stock.

About LXP Industrial Trust

LXP Industrial Trust is a real estate investment trust that specializes in the ownership, acquisition and management of industrial properties across North America. The company’s portfolio consists of warehouses, distribution centers and manufacturing facilities designed to support supply-chain and logistics operations. By focusing on long-term leasing arrangements, LXP Industrial Trust aims to provide stable income streams while delivering value to tenants through modern, well-positioned industrial space.

The firm’s primary business activities include sourcing and under-writing new property investments, overseeing development and redevelopment projects, and implementing asset-management strategies to enhance the performance of its holdings.