OVERSEA CHINESE BANKING Corp Ltd Makes New $940,000 Investment in LXP Industrial Trust $LXP

OVERSEA CHINESE BANKING Corp Ltd acquired a new stake in LXP Industrial Trust (NYSE:LXP) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 17,444 shares of the real estate investment trust’s stock, valued at approximately $940,000.

Other hedge funds also recently made changes to their positions in the company. IFP Advisors Inc lifted its position in shares of LXP Industrial Trust by 63.8% during the fourth quarter. IFP Advisors Inc now owns 837 shares of the real estate investment trust’s stock worth $41,000 after purchasing an additional 326 shares in the last quarter. EQ Wealth Advisors LLC acquired a new stake in LXP Industrial Trust during the 4th quarter valued at $34,000. Cetera Investment Advisers grew its holdings in LXP Industrial Trust by 5.2% during the 1st quarter. Cetera Investment Advisers now owns 14,905 shares of the real estate investment trust’s stock valued at $689,000 after purchasing an additional 743 shares in the last quarter. Pictet Asset Management Holding SA increased its stake in LXP Industrial Trust by 11.6% during the 1st quarter. Pictet Asset Management Holding SA now owns 9,698 shares of the real estate investment trust’s stock worth $449,000 after buying an additional 1,009 shares during the period. Finally, Resona Asset Management Co. Ltd. increased its stake in LXP Industrial Trust by 4.7% during the 1st quarter. Resona Asset Management Co. Ltd. now owns 26,174 shares of the real estate investment trust’s stock worth $1,213,000 after buying an additional 1,164 shares during the period. Hedge funds and other institutional investors own 93.52% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have weighed in on LXP shares. KeyCorp reissued a “sector weight” rating on shares of LXP Industrial Trust in a research report on Tuesday, June 9th. Wall Street Zen downgraded LXP Industrial Trust from a “hold” rating to a “sell” rating in a report on Sunday, July 12th. Evercore set a $54.00 price objective on LXP Industrial Trust in a report on Monday, June 8th. Weiss Ratings raised LXP Industrial Trust from a “hold (c)” rating to a “hold (c+)” rating in a research report on Monday, June 15th. Finally, Jefferies Financial Group cut LXP Industrial Trust from a “buy” rating to a “hold” rating and reduced their target price for the company from $62.00 to $61.00 in a research note on Thursday, August 6th. Two analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. Based on data from MarketBeat.com, LXP Industrial Trust presently has a consensus rating of “Hold” and a consensus target price of $57.40.

LXP Industrial Trust Price Performance

LXP opened at $60.92 on Friday. The company has a 50-day moving average of $57.80 and a 200-day moving average of $52.56. The company has a market capitalization of $3.59 billion, a P/E ratio of 60.92 and a beta of 1.02. LXP Industrial Trust has a 1-year low of $43.27 and a 1-year high of $61.61. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.10 and a current ratio of 0.10.

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

LXP Industrial Trust Announces Dividend

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

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.