LXP Industrial Trust (NYSE:LXP) Given Consensus Rating of “Hold” by Brokerages

LXP Industrial Trust (NYSE:LXP) has been assigned an average rating of “Hold” from the nine analysts that are currently covering the company, MarketBeat.com reports. Seven research analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average 12-month price target among brokers that have covered the stock in the last year is $57.40.

Several brokerages have recently issued reports on LXP. BMO Capital Markets began coverage on shares of LXP Industrial Trust in a research report on Thursday, July 9th. They issued an “outperform” rating and a $65.00 target price on the stock. Citigroup reiterated an “outperform” rating on shares of LXP Industrial Trust in a report on Thursday, July 16th. Jefferies Financial Group downgraded LXP Industrial Trust from a “buy” rating to a “hold” rating and decreased their target price for the company from $62.00 to $61.00 in a research report on Thursday, August 6th. KeyCorp reaffirmed a “sector weight” rating on shares of LXP Industrial Trust in a research note on Tuesday, June 9th. Finally, Wall Street Zen cut shares of LXP Industrial Trust from a “hold” rating to a “sell” rating in a research note on Sunday, July 12th.

Hedge Funds Weigh In On LXP Industrial Trust

Several institutional investors and hedge funds have recently bought and sold shares of LXP. Lasalle Investment Management Securities LLC increased its position in shares of LXP Industrial Trust by 6.9% during the 1st quarter. Lasalle Investment Management Securities LLC now owns 1,828,528 shares of the real estate investment trust’s stock worth $84,588,000 after purchasing an additional 117,737 shares during the last quarter. Norges Bank purchased a new stake in shares of LXP Industrial Trust in the 4th quarter valued at approximately $59,953,000. Sumitomo Mitsui Trust Group Inc. lifted its holdings in shares of LXP Industrial Trust by 3.2% in the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,159,623 shares of the real estate investment trust’s stock worth $53,644,000 after acquiring an additional 36,043 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings 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 worth $40,489,000 after acquiring 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 during the 2nd quarter worth approximately $36,807,000. 93.52% of the stock is currently owned by institutional investors and hedge funds.

LXP Industrial Trust Trading Up 0.0%

NYSE:LXP opened at $60.86 on Friday. LXP Industrial Trust has a 12 month low of $43.97 and a 12 month high of $61.61. The firm has a fifty day simple moving average of $60.23 and a 200-day simple moving average of $54.11. The company has a current ratio of 0.10, a quick ratio of 0.10 and a debt-to-equity ratio of 0.19. The company has a market capitalization of $3.59 billion, a P/E ratio of 60.86 and a beta of 1.02.

LXP Industrial Trust (NYSE:LXP) last posted its quarterly earnings results on Wednesday, July 29th. The real estate investment trust reported $0.84 earnings per share for the quarter, beating the consensus estimate of $0.83 by $0.01. The business had revenue of $88.11 million for the quarter, compared to the consensus estimate 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 quarterly revenue was up .4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.16 EPS. On average, equities research analysts anticipate that LXP Industrial Trust will post 3.34 earnings per share for the current year.

About LXP Industrial Trust

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.