PNC Financial Services Group Inc. Increases Stock Position in LXP Industrial Trust (NYSE:LXP)

PNC Financial Services Group Inc. increased its position in shares of LXP Industrial Trust (NYSE:LXP) by 25.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 46,306 shares of the real estate investment trust’s stock after buying an additional 9,266 shares during the period. PNC Financial Services Group Inc.’s holdings in LXP Industrial Trust were worth $376,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in LXP. Atria Investments Inc acquired a new position in LXP Industrial Trust in the third quarter worth about $118,000. KBC Group NV grew its position in shares of LXP Industrial Trust by 32.7% in the 3rd quarter. KBC Group NV now owns 10,170 shares of the real estate investment trust’s stock worth $102,000 after acquiring an additional 2,504 shares in the last quarter. Natixis Advisors LLC grew its position in shares of LXP Industrial Trust by 171.9% in the 3rd quarter. Natixis Advisors LLC now owns 239,232 shares of the real estate investment trust’s stock worth $2,404,000 after acquiring an additional 151,253 shares in the last quarter. Intech Investment Management LLC increased its holdings in shares of LXP Industrial Trust by 97.1% in the 3rd quarter. Intech Investment Management LLC now owns 125,196 shares of the real estate investment trust’s stock valued at $1,258,000 after acquiring an additional 61,682 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in shares of LXP Industrial Trust by 4.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 5,285,807 shares of the real estate investment trust’s stock valued at $53,122,000 after acquiring an additional 209,718 shares in the last quarter. Institutional investors and hedge funds own 93.52% of the company’s stock.

LXP Industrial Trust Trading Down 0.5 %

Shares of NYSE LXP opened at $9.03 on Friday. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 0.21. LXP Industrial Trust has a one year low of $7.65 and a one year high of $10.57. The business has a 50-day moving average price of $8.59 and a two-hundred day moving average price of $9.10. The firm has a market capitalization of $2.67 billion, a PE ratio of 69.43 and a beta of 0.89.

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

LXP Industrial Trust Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be issued a dividend of $0.135 per share. This represents a $0.54 annualized dividend and a dividend yield of 5.98%. The ex-dividend date is Monday, March 31st. LXP Industrial Trust’s dividend payout ratio is currently 415.38%.

Analysts Set New Price Targets

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

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.