LXP Industrial Trust (NYSE:LXP) Shares Sold by Shikiar Asset Management Inc.

Shikiar Asset Management Inc. reduced its position in shares of LXP Industrial Trust (NYSE:LXPGet Rating) by 0.8% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 526,810 shares of the real estate investment trust’s stock after selling 4,000 shares during the period. LXP Industrial Trust comprises approximately 2.3% of Shikiar Asset Management Inc.’s holdings, making the stock its 14th largest holding. Shikiar Asset Management Inc. owned about 0.19% of LXP Industrial Trust worth $8,271,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. CIBC Private Wealth Group LLC acquired a new stake in shares of LXP Industrial Trust during the 4th quarter valued at approximately $210,000. EverSource Wealth Advisors LLC acquired a new stake in shares of LXP Industrial Trust during the 4th quarter valued at approximately $27,000. Thrivent Financial for Lutherans raised its position in shares of LXP Industrial Trust by 18.1% during the 3rd quarter. Thrivent Financial for Lutherans now owns 365,635 shares of the real estate investment trust’s stock valued at $4,662,000 after acquiring an additional 55,925 shares in the last quarter. Mutual of America Capital Management LLC raised its position in shares of LXP Industrial Trust by 859.7% during the 4th quarter. Mutual of America Capital Management LLC now owns 355,365 shares of the real estate investment trust’s stock valued at $5,551,000 after acquiring an additional 318,336 shares in the last quarter. Finally, Bridgefront Capital LLC bought a new position in LXP Industrial Trust during the 4th quarter worth $279,000. 98.07% of the stock is currently owned by institutional investors and hedge funds.

In other news, Director Arun Gupta bought 9,100 shares of the firm’s stock in a transaction that occurred on Friday, June 10th. The stock was acquired at an average price of $10.88 per share, with a total value of $99,008.00. Following the completion of the purchase, the director now directly owns 16,865 shares of the company’s stock, valued at approximately $183,491.20. The acquisition was disclosed in a filing with the SEC, which is available at this link. Also, Director Richard Frary bought 10,000 shares of the firm’s stock in a transaction that occurred on Monday, June 13th. The shares were purchased at an average cost of $10.50 per share, with a total value of $105,000.00. Following the purchase, the director now directly owns 143,606 shares of the company’s stock, valued at $1,507,863. The disclosure for this purchase can be found here. In the last three months, insiders bought 37,965 shares of company stock valued at $414,083. Company insiders own 2.10% of the company’s stock.

A number of brokerages recently commented on LXP. TheStreet downgraded LXP Industrial Trust from a “b” rating to a “c+” rating in a research note on Thursday, May 5th. StockNews.com downgraded LXP Industrial Trust from a “hold” rating to a “sell” rating in a research note on Tuesday, May 24th. Evercore ISI set a $13.00 price objective on LXP Industrial Trust in a research note on Monday. Finally, Bank of America began coverage on LXP Industrial Trust in a research note on Monday, April 18th. They set an “underperform” rating and a $14.00 price objective for the company. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, LXP Industrial Trust presently has an average rating of “Hold” and an average price target of $15.00.

NYSE:LXP opened at $10.42 on Thursday. LXP Industrial Trust has a 1 year low of $9.98 and a 1 year high of $16.10. The stock has a market cap of $3.00 billion, a price-to-earnings ratio of 8.61, a PEG ratio of 9.65 and a beta of 0.75. The business has a fifty day moving average of $11.75 and a 200-day moving average of $13.93. 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:LXPGet Rating) last released its quarterly earnings results on Thursday, May 5th. The real estate investment trust reported $0.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.01 by $0.02. LXP Industrial Trust had a return on equity of 16.80% and a net margin of 106.18%. The company had revenue of $80.30 million during the quarter, compared to analysts’ expectations of $80.69 million. During the same quarter in the prior year, the business posted $0.22 earnings per share. The company’s revenue for the quarter was down 13.3% compared to the same quarter last year. On average, equities research analysts predict that LXP Industrial Trust will post 0.62 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 15th. Stockholders of record on Thursday, June 30th will be paid a $0.12 dividend. The ex-dividend date is Wednesday, June 29th. This represents a $0.48 annualized dividend and a dividend yield of 4.61%. LXP Industrial Trust’s payout ratio is 39.67%.

LXP Industrial Trust Profile (Get Rating)

Lexington Realty Trust (NYSE: LXP) is a publicly traded real estate investment trust (REIT) that owns a portfolio of real estate assets consisting primarily of equity investments in single-tenant net-leased industrial properties across the United States. Lexington seeks to expand its industrial portfolio through build-to-suit transactions, sale-leaseback transactions and other transactions, including acquisitions.

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Institutional Ownership by Quarter for LXP Industrial Trust (NYSE:LXP)

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