LXP Industrial Trust (NYSE:LXP) Sees Large Volume Increase – Should You Buy?

LXP Industrial Trust (NYSE:LXP) shares saw unusually-high trading volume on Monday. 1,071,566 shares were traded during mid-day trading, an increase of 61% from the average daily volume of 664,314 shares. The stock last traded at $61.1450 and had previously closed at $61.10.

Analyst Upgrades and Downgrades

Several brokerages recently commented on LXP. Citizens Jmp cut shares of 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 cut their price target for the stock from $62.00 to $61.00 in a report on Thursday, August 6th. BMO Capital Markets initiated coverage on shares of LXP Industrial Trust in a research report on Thursday, July 9th. They set an “outperform” rating and a $65.00 target price for the company. Wall Street Zen lowered LXP Industrial Trust from a “hold” rating to a “sell” rating in a research report on Sunday, July 12th. Finally, Citigroup reaffirmed an “outperform” rating on shares of LXP Industrial Trust in a research note on Thursday, July 16th. Three investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $57.40.

LXP Industrial Trust Price Performance

The company has a market capitalization of $3.60 billion, a P/E ratio of 61.14 and a beta of 1.02. The business has a 50-day moving average of $60.92 and a 200-day moving average of $54.31.

LXP Industrial Trust (NYSE:LXP) last issued its quarterly earnings results on Thursday, October 29th. The real estate investment trust reported $1.54 earnings per share for the quarter, topping the consensus estimate of $0.07 by $1.47. The business had revenue of $90.78 million during the quarter, compared to analyst estimates of $86.90 million. Sell-side analysts predict that LXP Industrial Trust will post 3.34 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of LXP. Lasalle Investment Management Securities LLC grew its holdings in LXP Industrial Trust by 6.9% in the 1st 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 buying an additional 117,737 shares during the period. Sumitomo Mitsui Trust Group Inc. boosted its stake in LXP Industrial Trust by 3.2% during the 1st 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 boosted its holdings in LXP Industrial Trust by 2.2% during the first 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 in the last quarter. Bank of New York Mellon Corp acquired a new stake in shares of LXP Industrial Trust during the second quarter worth approximately $36,807,000. Finally, William Blair Investment Management LLC bought a new position in LXP Industrial Trust in the 2nd quarter worth approximately $26,535,000. Institutional investors and hedge funds own 93.52% of the company’s stock.

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.