LXP Industrial Trust (NYSE:LXP) Shares Bought by Meritage Portfolio Management

Meritage Portfolio Management lifted its holdings in LXP Industrial Trust (NYSE:LXP) by 45.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 478,491 shares of the real estate investment trust’s stock after acquiring an additional 149,373 shares during the period. Meritage Portfolio Management owned approximately 0.16% of LXP Industrial Trust worth $4,747,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in LXP. Charles Schwab Investment Management Inc. grew its holdings in LXP Industrial Trust by 3.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 4,603,482 shares of the real estate investment trust’s stock valued at $40,971,000 after purchasing an additional 142,286 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its stake in LXP Industrial Trust by 1.2% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 4,117,651 shares of the real estate investment trust’s stock valued at $36,647,000 after acquiring an additional 49,501 shares during the last quarter. Victory Capital Management Inc. boosted its stake in LXP Industrial Trust by 0.8% during the 3rd quarter. Victory Capital Management Inc. now owns 2,565,041 shares of the real estate investment trust’s stock valued at $22,829,000 after acquiring an additional 21,435 shares during the last quarter. Adage Capital Partners GP L.L.C. boosted its stake in LXP Industrial Trust by 180.0% during the 3rd quarter. Adage Capital Partners GP L.L.C. now owns 2,100,000 shares of the real estate investment trust’s stock valued at $18,690,000 after acquiring an additional 1,350,000 shares during the last quarter. Finally, California Public Employees Retirement System boosted its stake in LXP Industrial Trust by 0.6% during the 4th quarter. California Public Employees Retirement System now owns 1,477,187 shares of the real estate investment trust’s stock valued at $14,654,000 after acquiring an additional 8,860 shares during the last quarter. Institutional investors and hedge funds own 93.52% of the company’s stock.

Analyst Ratings Changes

Separately, StockNews.com upgraded shares of LXP Industrial Trust from a “sell” rating to a “hold” rating in a research report on Thursday.

LXP Industrial Trust Stock Performance

Shares of LXP Industrial Trust stock traded down $0.09 during trading hours on Thursday, reaching $8.45. The company’s stock had a trading volume of 5,390,968 shares, compared to its average volume of 2,401,027. The stock has a market cap of $2.49 billion, a P/E ratio of 106.70 and a beta of 0.80. The company’s 50 day simple moving average is $8.84 and its 200 day simple moving average is $8.92. LXP Industrial Trust has a one year low of $7.75 and a one year high of $10.75. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.29 and a current ratio of 0.29.

LXP Industrial Trust (NYSE:LXP) last issued its quarterly earnings data on Thursday, February 15th. The real estate investment trust reported $0.04 earnings per share for the quarter, missing the consensus estimate of $0.17 by ($0.13). The firm had revenue of $83.00 million during the quarter, compared to the consensus estimate of $83.74 million. LXP Industrial Trust had a net margin of 8.92% and a return on equity of 1.37%. The company’s revenue for the quarter was up 2.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.17 earnings per share. As a group, analysts expect that LXP Industrial Trust will post 0.64 EPS for the current fiscal year.

LXP Industrial Trust Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Thursday, March 28th were paid a dividend of $0.13 per share. The ex-dividend date was Wednesday, March 27th. This represents a $0.52 annualized dividend and a yield of 6.15%. LXP Industrial Trust’s payout ratio is 650.08%.

LXP Industrial Trust Profile

LXP Industrial Trust (NYSE: LXP) is a publicly traded real estate investment trust (REIT) focused on single-tenant industrial real estate investments across the United States. LXP seeks to expand its industrial portfolio through acquisitions, build-to-suit transactions, sale-leaseback transactions, development projects and other transactions.