Investment

LXP Industrial Trust (NYSE:LXP) Downgraded by Zacks Investment Research to “Sell”


LXP Industrial Trust (NYSE:LXPGet Rating) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report issued on Tuesday, Zacks.com reports.

According to Zacks, “LXP Industrial Trust is a real estate investment trust. It focused on single-tenant industrial real estate investments. The company’s industrial portfolio includes acquisitions, development projects and build-to-suit and sale/leaseback transactions. LXP Industrial Trust, formerly known as Lexington Realty Trust, is based in NEW YORK. “

LXP has been the subject of a number of other research reports. StockNews.com downgraded shares of LXP Industrial Trust from a “hold” rating to a “sell” rating in a research report on Tuesday, May 24th. TheStreet downgraded shares of LXP Industrial Trust from a “b” rating to a “c+” rating in a research report on Thursday, May 5th. Finally, Bank of America began coverage on shares of LXP Industrial Trust in a research report on Monday, April 18th. They issued an “underperform” rating and a $14.00 price objective for the company. Three equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $15.40.

NYSE:LXP opened at $11.69 on Tuesday. LXP Industrial Trust has a one year low of $10.84 and a one year high of $16.10. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.10 and a current ratio of 0.10. The firm has a market cap of $3.37 billion, a price-to-earnings ratio of 9.66, a PEG ratio of 8.49 and a beta of 0.74. The firm’s fifty day moving average is $13.15 and its two-hundred day moving average is $14.41.

LXP Industrial Trust (NYSE:LXPGet Rating) last issued its quarterly earnings data on Thursday, May 5th. The real estate investment trust reported $0.03 earnings per share for the quarter, topping analysts’ consensus estimates of $0.01 by $0.02. The business had revenue of $80.30 million during the quarter, compared to the consensus estimate of $80.69 million. LXP Industrial Trust had a net margin of 106.18% and a return on equity of 16.80%. The company’s revenue was down 13.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.22 earnings per share. As a group, equities research analysts predict that LXP Industrial Trust will post 0.62 earnings per share for the current fiscal year.

In other news, Director Lawrence L. Gray purchased 2,235 shares of the company’s stock in a transaction dated Wednesday, May 11th. The stock was acquired at an average price of $11.26 per share, with a total value of $25,166.10. Following the purchase, the director now directly owns 71,844 shares in the company, valued at approximately $808,963.44. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Also, Director Lawrence L. Gray purchased 4,370 shares of the company’s stock in a transaction dated Monday, May 9th. The stock was purchased at an average cost of $11.50 per share, with a total value of $50,255.00. Following the purchase, the director now owns 69,609 shares in the company, valued at $800,503.50. The disclosure for this purchase can be found here. In the last ninety days, insiders have purchased 18,865 shares of company stock valued at $210,075. 2.06% of the stock is owned by corporate insiders.

Several large investors have recently bought and sold shares of the stock. Neuberger Berman Group LLC boosted its position in shares of LXP Industrial Trust by 1.6% during the 1st quarter. Neuberger Berman Group LLC now owns 609,191 shares of the real estate investment trust’s stock worth $9,564,000 after purchasing an additional 9,480 shares during the period. Weiss Multi Strategy Advisers LLC purchased a new position in shares of LXP Industrial Trust during the 1st quarter worth approximately $399,000. Virtu Financial LLC purchased a new position in shares of LXP Industrial Trust during the 1st quarter worth approximately $368,000. Meiji Yasuda Asset Management Co Ltd. purchased a new position in shares of LXP Industrial Trust during the 1st quarter worth approximately $770,000. Finally, Sagefield Capital LP purchased a new position in shares of LXP Industrial Trust during the 1st quarter worth approximately $1,063,000. 98.07% of the stock is owned by hedge funds and other institutional investors.

LXP Industrial Trust Company Profile (Get Rating)

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

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