Renaissance Technologies LLC Raises Stock Position in LXP Industrial Trust (NYSE:LXP)

Renaissance Technologies LLC grew its holdings in shares of LXP Industrial Trust (NYSE:LXP) by 10.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,584,470 shares of the real estate investment trust’s stock after buying an additional 149,388 shares during the quarter. Renaissance Technologies LLC owned 0.54% of LXP Industrial Trust worth $12,866,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the business. Wealthfront Advisers LLC bought a new stake in LXP Industrial Trust during the fourth quarter worth approximately $80,000. Proficio Capital Partners LLC purchased a new stake in LXP Industrial Trust during the 4th quarter valued at $83,000. Wealth Advisory Solutions LLC bought a new stake in LXP Industrial Trust in the fourth quarter worth $91,000. Sequoia Financial Advisors LLC purchased a new position in LXP Industrial Trust during the fourth quarter worth $92,000. Finally, First Hawaiian Bank bought a new position in LXP Industrial Trust during the fourth quarter valued at $100,000. Institutional investors own 93.52% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, JMP Securities reaffirmed a “market perform” rating on shares of LXP Industrial Trust in a research note on Friday, February 14th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $11.33.

LXP Industrial Trust Price Performance

LXP opened at $7.69 on Wednesday. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.21. The business has a fifty day moving average of $8.54 and a 200 day moving average of $8.82. LXP Industrial Trust has a 52-week low of $6.85 and a 52-week high of $10.57. The stock has a market cap of $2.28 billion, a P/E ratio of 59.19 and a beta of 0.95.

LXP Industrial Trust (NYSE:LXP) last posted its quarterly earnings results on Thursday, February 13th. The real estate investment trust reported $0.16 EPS for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.18. LXP Industrial Trust had a net margin of 12.40% and a return on equity of 2.15%. The firm had revenue of $100.85 million for the quarter, compared to analysts’ expectations of $84.57 million. As a group, sell-side analysts anticipate that LXP Industrial Trust will post 0.63 EPS for the current year.

LXP Industrial Trust Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st were paid a dividend of $0.135 per share. This represents a $0.54 annualized dividend and a dividend yield of 7.02%. The ex-dividend date of this dividend was Monday, March 31st. LXP Industrial Trust’s dividend payout ratio is presently 415.38%.

LXP Industrial Trust Company 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.