Wellington Management Group LLP Decreases Stock Position in LXP Industrial Trust (NYSE:LXP)

Wellington Management Group LLP lowered its stake in shares of LXP Industrial Trust (NYSE:LXP - Free Report) by 6.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,490,014 shares of the real estate investment trust's stock after selling 160,665 shares during the quarter. Wellington Management Group LLP owned 0.85% of LXP Industrial Trust worth $20,219,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Nomura Asset Management Co. Ltd. lifted its holdings in LXP Industrial Trust by 0.3% during the third quarter. Nomura Asset Management Co. Ltd. now owns 366,100 shares of the real estate investment trust's stock worth $3,679,000 after acquiring an additional 1,100 shares during the period. HighTower Advisors LLC increased its position in shares of LXP Industrial Trust by 2.6% during the 3rd quarter. HighTower Advisors LLC now owns 52,755 shares of the real estate investment trust's stock valued at $530,000 after purchasing an additional 1,333 shares during the last quarter. CIBC Asset Management Inc raised its stake in shares of LXP Industrial Trust by 4.9% during the 4th quarter. CIBC Asset Management Inc now owns 29,220 shares of the real estate investment trust's stock worth $237,000 after purchasing an additional 1,365 shares during the period. Rhumbline Advisers boosted its holdings in shares of LXP Industrial Trust by 0.3% in the 4th quarter. Rhumbline Advisers now owns 946,380 shares of the real estate investment trust's stock worth $7,685,000 after buying an additional 2,543 shares during the last quarter. Finally, Orion Portfolio Solutions LLC boosted its holdings in shares of LXP Industrial Trust by 2.8% in the 4th quarter. Orion Portfolio Solutions LLC now owns 98,309 shares of the real estate investment trust's stock worth $798,000 after buying an additional 2,688 shares during the last quarter. 93.52% of the stock is owned by hedge funds and other institutional investors.

Remove Ads

Analyst Ratings Changes

Separately, JMP Securities reissued a "market perform" rating on shares of LXP Industrial Trust in a report on Friday, February 14th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company's stock. According to MarketBeat.com, LXP Industrial Trust presently has a consensus rating of "Hold" and an average target price of $11.33.

LXP Industrial Trust Price Performance

NYSE LXP traded up $0.11 on Friday, reaching $7.54. 3,893,681 shares of the company's stock traded hands, compared to its average volume of 2,220,694. The stock has a market cap of $2.23 billion, a PE ratio of 58.04 and a beta of 0.95. LXP Industrial Trust has a 12 month low of $6.85 and a 12 month high of $10.57. The stock has a 50-day simple moving average of $8.57 and a 200 day simple moving average of $8.85. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.16 and a quick ratio of 0.16.

LXP Industrial Trust (NYSE:LXP - Get Free Report) last announced 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 return on equity of 2.15% and a net margin of 12.40%. The business had revenue of $100.85 million for the quarter, compared to analysts' expectations of $84.57 million. As a group, research analysts predict that LXP Industrial Trust will post 0.63 earnings per share for the current year.

LXP Industrial Trust Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be given a dividend of $0.135 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $0.54 annualized dividend and a yield of 7.16%. LXP Industrial Trust's payout ratio is 415.38%.

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.