Cibc World Markets Corp Invests $221,000 in LXP Industrial Trust (NYSE:LXP)

Cibc World Markets Corp acquired a new stake in LXP Industrial Trust (NYSE:LXP) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 27,203 shares of the real estate investment trust’s stock, valued at approximately $221,000.

Other hedge funds also recently added to or reduced their stakes in the company. Wealthfront Advisers LLC acquired a new position in shares of LXP Industrial Trust in the 4th quarter valued at $80,000. Proficio Capital Partners LLC purchased a new stake in LXP Industrial Trust in the 4th quarter valued at about $83,000. Wealth Advisory Solutions LLC acquired a new position in LXP Industrial Trust in the fourth quarter valued at about $91,000. Sequoia Financial Advisors LLC purchased a new position in LXP Industrial Trust during the fourth quarter worth about $92,000. Finally, First Hawaiian Bank acquired a new stake in shares of LXP Industrial Trust during the fourth quarter valued at about $100,000. 93.52% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Separately, JMP Securities restated a “market perform” rating on shares of LXP Industrial Trust in a report on Friday, February 14th. One investment 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 data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $11.33.

LXP Industrial Trust Stock Performance

Shares of LXP Industrial Trust stock opened at $8.88 on Thursday. The stock has a market capitalization of $2.62 billion, a price-to-earnings ratio of 68.27 and a beta of 0.89. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.16 and a quick ratio of 0.16. The business has a 50-day moving average of $8.66 and a 200 day moving average of $9.05. LXP Industrial Trust has a 12 month low of $7.65 and a 12 month high of $10.57.

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

LXP Industrial Trust Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be paid a $0.135 dividend. This represents a $0.54 annualized dividend and a dividend yield of 6.08%. The ex-dividend date is Monday, March 31st. LXP Industrial Trust’s payout ratio is currently 415.38%.

About LXP Industrial Trust

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.