Sumitomo Mitsui Trust Group Inc. Sells 801,024 Shares of LXP Industrial Trust $LXP

Sumitomo Mitsui Trust Group Inc. cut its holdings in shares of LXP Industrial Trust (NYSE:LXP) by 93.4% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 56,555 shares of the real estate investment trust’s stock after selling 801,024 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in LXP Industrial Trust were worth $3,445,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Nissay Asset Management Corp Japan increased its position in LXP Industrial Trust by 1.9% in the 2nd quarter. Nissay Asset Management Corp Japan now owns 9,247 shares of the real estate investment trust’s stock valued at $498,000 after acquiring an additional 173 shares during the period. Asset Management One Co. Ltd. raised its stake in shares of LXP Industrial Trust by 0.3% during the third quarter. Asset Management One Co. Ltd. now owns 83,465 shares of the real estate investment trust’s stock valued at $5,085,000 after acquiring an additional 220 shares during the last quarter. Sequoia Financial Advisors LLC lifted its holdings in shares of LXP Industrial Trust by 4.4% during the second quarter. Sequoia Financial Advisors LLC now owns 5,344 shares of the real estate investment trust’s stock worth $288,000 after purchasing an additional 224 shares during the period. GAMMA Investing LLC lifted its holdings in shares of LXP Industrial Trust by 25.7% during the third quarter. GAMMA Investing LLC now owns 1,881 shares of the real estate investment trust’s stock worth $115,000 after purchasing an additional 385 shares during the period. Finally, Choreo LLC grew its stake in shares of LXP Industrial Trust by 11.1% in the third quarter. Choreo LLC now owns 5,134 shares of the real estate investment trust’s stock worth $313,000 after purchasing an additional 512 shares during the last quarter. 93.52% of the stock is owned by institutional investors.

Analyst Ratings Changes

LXP has been the subject of a number of recent research reports. Wall Street Zen downgraded LXP Industrial Trust from a “hold” rating to a “sell” rating in a report on Sunday, July 12th. Citigroup reaffirmed an “outperform” rating on shares of LXP Industrial Trust in a report on Thursday, July 16th. Citizens Jmp downgraded LXP Industrial Trust from a “market outperform” rating to a “hold” rating in a report on Tuesday, July 21st. Jefferies Financial Group lowered LXP Industrial Trust from a “buy” rating to a “hold” rating and reduced their price target for the company from $62.00 to $61.00 in a research report on Thursday, August 6th. Finally, Weiss Ratings raised LXP Industrial Trust from a “buy (b-)” rating to a “buy (b)” rating in a research note on Monday. Three research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $57.40.

LXP Industrial Trust Stock Performance

NYSE:LXP remained flat at $61.18 on Friday. The stock has a market cap of $3.61 billion, a P/E ratio of 31.54 and a beta of 1.02. The company has a fifty day simple moving average of $60.96 and a 200-day simple moving average of $54.74. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.10 and a current ratio of 0.19. LXP Industrial Trust has a 52 week low of $44.17 and a 52 week high of $61.61.

LXP Industrial Trust (NYSE:LXP) last released its quarterly earnings results on Tuesday, October 27th. The real estate investment trust reported $0.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.07 by $0.82. The firm had revenue of $90.78 million during the quarter, compared to analyst estimates of $87.10 million. LXP Industrial Trust had a net margin of 34.31% and a return on equity of 6.29%. Research analysts expect that LXP Industrial Trust will post 3.34 earnings per share for the current fiscal year.

LXP Industrial Trust Company Profile

LXP Industrial Trust (NYSE:LXP) is a self-managed real estate investment trust focused on owning and managing industrial properties in the United States. The company primarily invests in single-tenant, long-term leased facilities, including distribution centers, logistics properties, and manufacturing buildings.

LXP’s portfolio serves tenants involved in logistics, supply chain management, manufacturing, and other industrial activities. Its properties are located across several U.S. markets, with an emphasis on areas supported by population growth, transportation infrastructure, and expanding industrial demand.