Evercore ISI Reiterates “$13.00” Price Target for LXP Industrial Trust (NYSE:LXP)

Evercore ISI set a $13.00 price target on LXP Industrial Trust (NYSE:LXPGet Rating) in a report issued on Monday, Stock Target Advisor reports.

A number of other research analysts also recently commented on the stock. 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 set an underperform rating and a $14.00 target price on the stock. Two analysts have rated the stock with a sell rating, one has issued a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of Hold and a consensus price target of $15.00.

LXP stock opened at $10.69 on Monday. The company has a market capitalization of $3.08 billion, a PE ratio of 8.61, a P/E/G ratio of 9.65 and a beta of 0.75. LXP Industrial Trust has a 12 month low of $9.98 and a 12 month high of $16.10. The firm’s 50-day moving average is $11.69 and its 200 day moving average is $13.91. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.10 and a quick ratio of 0.10.

LXP Industrial Trust (NYSE:LXPGet Rating) last posted its quarterly earnings results on Thursday, May 5th. The real estate investment trust reported $0.03 EPS for the quarter, topping the consensus estimate of $0.01 by $0.02. The company had revenue of $80.30 million for 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 firm’s revenue was down 13.3% compared to the same quarter last year. During the same quarter last year, the firm posted $0.22 EPS. Sell-side analysts forecast that LXP Industrial Trust will post 0.62 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, July 15th. Stockholders of record on Thursday, June 30th will be issued a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 4.49%. The ex-dividend date of this dividend is Wednesday, June 29th. LXP Industrial Trust’s dividend payout ratio is currently 39.67%.

In other news, Director Arun Gupta purchased 9,100 shares of the stock in a transaction dated Friday, June 10th. The shares were acquired at an average cost of $10.88 per share, for a total transaction of $99,008.00. Following the acquisition, the director now owns 16,865 shares of the company’s stock, valued at $183,491.20. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Richard Frary purchased 10,000 shares of the stock in a transaction dated Friday, May 20th. The stock was purchased at an average price of $10.95 per share, for a total transaction of $109,500.00. Following the completion of the acquisition, the director now directly owns 133,606 shares in the company, valued at approximately $1,462,985.70. The disclosure for this purchase can be found here. Insiders bought a total of 37,965 shares of company stock worth $414,083 over the last 90 days. Company insiders own 2.10% of the company’s stock.

A number of hedge funds have recently added to or reduced their stakes in LXP. CWM LLC acquired a new stake in LXP Industrial Trust in the 4th quarter worth approximately $25,000. EverSource Wealth Advisors LLC acquired a new stake in LXP Industrial Trust in the 4th quarter worth approximately $27,000. HHM Wealth Advisors LLC boosted its stake in LXP Industrial Trust by 47.1% in the 4th quarter. HHM Wealth Advisors LLC now owns 2,060 shares of the real estate investment trust’s stock worth $32,000 after purchasing an additional 660 shares in the last quarter. USA Financial Portformulas Corp acquired a new stake in LXP Industrial Trust in the 4th quarter worth approximately $36,000. Finally, FNY Investment Advisers LLC acquired a new stake in LXP Industrial Trust in the 1st quarter worth approximately $39,000. Institutional investors own 98.07% of the company’s stock.

About LXP Industrial Trust (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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