LXP Industrial Trust (NYSE:LXP) Receives Average “Hold” Recommendation From Brokerages

Shares of LXP Industrial Trust (NYSE:LXP – Get Rating) received an average recommendation of “Hold” by the seven research firms that cover the company, reports MarketBeat Ratings. One analyst has assigned the stock a sell rating, one has issued a hold rating and three have assigned the company a buy rating. The 12-month average target price among brokerages that have covered the stock over the past year is $14.80.

Several brokerages have recently commented on LXP. Evercore ISI set a target price of $13.00 on LXP Industrial Trust in a Monday, June 20 research report. StockNews.com upgraded LXP Industrial Trust from a “sell” to a “hold” rating in a Monday, July 18 research report. TheStreet upgraded LXP Industrial Trust from a “b” to a “c+” rating in a Thursday, May 5 research report. Finally, Jefferies Financial Group cut its price target on LXP Industrial Trust from $15.50 to $14.00 and set a “buy” rating for the company in a Thursday, June 30 research report.

LXP Industrial Trust shares down 1.3%

Shares of LXP opened at $11.03 on Friday. The stock has a market capitalization of $3.09 billion, a P/E ratio of 10.12, a price-to-earnings growth ratio of 13.49 and a beta of 0.72. LXP Industrial Trust has a one-year low of $9.98 and a one-year high of $16.10. The stock has a fifty-day moving average price of $10.69 and a 200-day moving average price of $12.72. The company has a debt ratio of 0.25, a current ratio of 0.10 and a quick ratio of 0.10.

LXP Industrial Trust Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, July 15. Shareholders of record on Thursday, June 30 received a dividend of $0.12 per share. The ex-dividend date was Wednesday, June 29. This represents a dividend of $0.48 on an annualized basis and a dividend yield of 4.35%. LXP Industrial Trust’s payout ratio is currently 44.04%.

Insider Buying and Selling at LXP Industrial Trust

Separately, director Richard Frary acquired 10,000 shares of the company in a transaction on Monday, June 13. The shares were purchased at an average cost of $10.50 per share, with a total value of $105,000.00. Following the completion of the acquisition, the administrator now owns 143,606 shares of the company, valued at $1,507,863. The transaction was disclosed in a legal filing with the SEC, which is available on the SEC’s website. In other news from LXP Industrial Trust, Director Lawrence L. Gray purchased 2,260 shares of the company in a transaction that took place on Monday, May 23. The shares were acquired at an average cost of $11.13 per share, with a total value of $25,153.80. Following the completion of the acquisition, the director now directly owns 74,104 shares of the company, valued at approximately $824,777.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available on the SEC’s website. Additionally, director Richard Frary purchased 10,000 shares of the company in a transaction that took place on Monday, June 13. The shares were acquired at an average cost of $10.50 per share, with a total value of $105,000.00. Following the completion of the acquisition, the director now directly owns 143,606 shares of the company, valued at $1,507,863. Disclosure of this purchase can be found here. Over the past three months, insiders have purchased 21,360 shares of the company valued at $229,162. 2.10% of the shares are currently held by insiders of the company.

Institutional entries and exits

Institutional investors have recently changed their positions in the company. CIBC Private Wealth Group LLC acquired a new stake in LXP Industrial Trust in the fourth quarter valued at approximately $210,000. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its position in LXP Industrial Trust by 4.9% in the first quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 122,681 shares of the real estate investment trust worth $1,926,000 after purchasing an additional 5,736 shares during the period. EverSource Wealth Advisors LLC acquired a new stake in LXP Industrial Trust in the fourth quarter worth approximately $27,000. Hennion & Walsh Asset Management Inc. increased its position in LXP Industrial Trust by 12.7% in the first quarter. Hennion & Walsh Asset Management Inc. now owns 30,708 shares of the real estate investment trust worth $482,000 after purchasing an additional 3,457 shares during the period. Finally, Bridgefront Capital LLC acquired a new stake in LXP Industrial Trust in the fourth quarter worth approximately $279,000. 98.07% of the shares are held by institutional investors.

About LXP Industrial Trust

(Get a rating)

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

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Analyst Recommendations for LXP Industrial Trust (NYSE:LXP)

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