Cornercap Investment Counsel Inc. Invests $402,000 in LXP Industrial Trust (NYSE:LXP)

Cornercap Investment Counsel Inc. acquired a new position in LXP Industrial Trust (NYSE:LXP) during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 40,568 shares of the real estate investment trust’s stock, valued at approximately $402,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Sumitomo Mitsui Trust Holdings Inc. grew its holdings in shares of LXP Industrial Trust by 8.3% in the 4th quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 345,575 shares of the real estate investment trust’s stock worth $3,428,000 after acquiring an additional 26,398 shares during the last quarter. Louisiana State Employees Retirement System acquired a new position in shares of LXP Industrial Trust in the 4th quarter worth $1,452,000. New York State Teachers Retirement System grew its holdings in shares of LXP Industrial Trust by 0.3% in the 4th quarter. New York State Teachers Retirement System now owns 512,191 shares of the real estate investment trust’s stock worth $5,081,000 after acquiring an additional 1,594 shares during the last quarter. International Assets Investment Management LLC grew its holdings in shares of LXP Industrial Trust by 869.1% in the 4th quarter. International Assets Investment Management LLC now owns 177,042 shares of the real estate investment trust’s stock worth $17,847,000 after acquiring an additional 158,774 shares during the last quarter. Finally, Asset Management One Co. Ltd. grew its holdings in shares of LXP Industrial Trust by 13.1% in the 4th quarter. Asset Management One Co. Ltd. now owns 851,175 shares of the real estate investment trust’s stock worth $8,571,000 after acquiring an additional 98,261 shares during the last quarter. Institutional investors own 93.52% of the company’s stock.

LXP Industrial Trust Stock Performance

Shares of LXP stock opened at $8.53 on Thursday. LXP Industrial Trust has a 1-year low of $7.75 and a 1-year high of $10.75. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.20. The company has a market capitalization of $2.51 billion, a price-to-earnings ratio of 106.64 and a beta of 0.80. The stock’s fifty day simple moving average is $8.88 and its 200-day simple moving average is $8.93.

LXP Industrial Trust (NYSE:LXP) last issued its quarterly earnings results on Thursday, February 15th. The real estate investment trust reported $0.04 earnings per share for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.13). LXP Industrial Trust had a net margin of 8.92% and a return on equity of 1.37%. The business had revenue of $83.00 million for the quarter, compared to analysts’ expectations of $83.74 million. During the same quarter in the prior year, the firm posted $0.17 EPS. The business’s quarterly revenue was up 2.3% compared to the same quarter last year. On average, sell-side analysts predict that LXP Industrial Trust will post 0.63 earnings per share for the current fiscal year.

LXP Industrial Trust Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Thursday, March 28th were issued a dividend of $0.13 per share. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 6.10%. LXP Industrial Trust’s dividend payout ratio is 650.08%.

Analyst Ratings Changes

Separately, StockNews.com upgraded LXP Industrial Trust from a “sell” rating to a “hold” rating in a report on Wednesday.

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.