TCW Group Inc. Cuts Stake in LXP Industrial Trust (NYSE:LXP)

TCW Group Inc. reduced its position in shares of LXP Industrial Trust (NYSE:LXP) by 75.2% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 24,846 shares of the real estate investment trust’s stock after selling 75,512 shares during the quarter. TCW Group Inc.’s holdings in LXP Industrial Trust were worth $202,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in LXP. Creative Planning raised its holdings in LXP Industrial Trust by 4.8% during the 3rd quarter. Creative Planning now owns 50,198 shares of the real estate investment trust’s stock valued at $504,000 after buying an additional 2,303 shares during the last quarter. Blue Trust Inc. raised its holdings in LXP Industrial Trust by 291.7% during the 3rd quarter. Blue Trust Inc. now owns 12,291 shares of the real estate investment trust’s stock valued at $124,000 after buying an additional 9,153 shares during the last quarter. International Assets Investment Management LLC raised its holdings in LXP Industrial Trust by 845.1% during the 3rd quarter. International Assets Investment Management LLC now owns 168,669 shares of the real estate investment trust’s stock valued at $16,783,000 after buying an additional 150,822 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its holdings in LXP Industrial Trust by 34.8% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 11,424 shares of the real estate investment trust’s stock valued at $116,000 after buying an additional 2,948 shares during the last quarter. Finally, abrdn plc raised its holdings in LXP Industrial Trust by 10.2% during the 3rd quarter. abrdn plc now owns 60,041 shares of the real estate investment trust’s stock valued at $603,000 after buying an additional 5,582 shares during the last quarter. 93.52% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Separately, JMP Securities reiterated 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 given a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $11.33.

LXP Industrial Trust Stock Performance

Shares of NYSE LXP opened at $8.64 on Tuesday. The firm’s 50-day moving average price is $8.30 and its 200-day moving average price is $9.21. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.21. The company has a market cap of $2.56 billion, a PE ratio of 66.49 and a beta of 0.89. LXP Industrial Trust has a 52-week low of $7.65 and a 52-week high of $10.56.

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

LXP Industrial Trust Company Profile

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.