Engineers Gate Manager LP Grows Position in LXP Industrial Trust $LXP

Engineers Gate Manager LP grew its position in LXP Industrial Trust (NYSE:LXP) by 395.2% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 27,732 shares of the real estate investment trust’s stock after acquiring an additional 22,132 shares during the quarter. Engineers Gate Manager LP’s holdings in LXP Industrial Trust were worth $1,494,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of LXP. Lasalle Investment Management Securities LLC raised its stake in LXP Industrial Trust by 6.9% during the first quarter. Lasalle Investment Management Securities LLC now owns 1,828,528 shares of the real estate investment trust’s stock valued at $84,588,000 after purchasing an additional 117,737 shares in the last quarter. Norges Bank bought a new stake in LXP Industrial Trust during the fourth quarter worth approximately $59,953,000. Sumitomo Mitsui Trust Group Inc. raised its position in LXP Industrial Trust by 3.2% during the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,159,623 shares of the real estate investment trust’s stock valued at $53,644,000 after purchasing an additional 36,043 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of LXP Industrial Trust by 2.2% in the 1st quarter. Dimensional Fund Advisors LP now owns 875,247 shares of the real estate investment trust’s stock valued at $40,489,000 after purchasing an additional 19,189 shares during the last quarter. Finally, Bank of New York Mellon Corp purchased a new position in shares of LXP Industrial Trust in the 2nd quarter worth approximately $36,807,000. 93.52% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. BMO Capital Markets initiated coverage on LXP Industrial Trust in a report on Thursday, July 9th. They set an “outperform” rating and a $65.00 price target on the stock. KeyCorp reaffirmed a “sector weight” rating on shares of LXP Industrial Trust in a research note on Tuesday, June 9th. Jefferies Financial Group downgraded shares of LXP Industrial Trust from a “buy” rating to a “hold” rating and cut their price target for the company from $62.00 to $61.00 in a report on Thursday, August 6th. Citizens Jmp lowered LXP Industrial Trust from a “market outperform” rating to a “hold” rating in a research note on Tuesday, July 21st. 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 investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $57.40.

LXP Industrial Trust Stock Up 0.1%

Shares of LXP Industrial Trust stock opened at $60.85 on Thursday. The firm’s 50 day moving average price is $60.12 and its 200-day moving average price is $54.03. The company has a market cap of $3.59 billion, a P/E ratio of 60.85 and a beta of 1.02. The company has a quick ratio of 0.10, a current ratio of 0.10 and a debt-to-equity ratio of 0.19. LXP Industrial Trust has a 52-week low of $43.97 and a 52-week high of $61.61.

LXP Industrial Trust (NYSE:LXP) last issued its quarterly earnings results on Wednesday, July 29th. The real estate investment trust reported $0.84 earnings per share for the quarter, topping analysts’ consensus estimates of $0.83 by $0.01. The business had revenue of $88.11 million for the quarter, compared to analyst estimates of $85.37 million. LXP Industrial Trust had a return on equity of 3.37% and a net margin of 18.66%.The company’s revenue was up .4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.16 earnings per share. On average, sell-side analysts predict that LXP Industrial Trust will post 3.34 EPS for the current fiscal year.

LXP Industrial Trust Profile

LXP Industrial Trust (NYSE:LXP) is a real estate investment trust that owns and operates industrial properties in the United States. The company focuses primarily on single-tenant warehouse, distribution and manufacturing facilities that are leased to business and industrial tenants.

LXP typically leases its properties under long-term net lease agreements, under which tenants are generally responsible for many property-level operating expenses, including maintenance, insurance and taxes.