SSgA Funds Management, Inc. has recently announced that it has increased stake in LXP Industrial Trust (NYSE:LXP) by 0.60%. After grabbing 18.66 million shares, the institutional investor is now in possession of 0.11 million shares of the Real Estate Company. The new investment brought the stake of investor firm to 6.38% having worth around $147.58 million. Moreover, Geode Capital Management LLC increased its share by 0.31 million to have a control over 6.58 million shares. And Charles Schwab Investment Managem raised its holdings to 0.14 million shares by acquiring 4.6 million shares or 1.57% of the stake.
LXP Industrial Trust (LXP) concluded trading on 12/14/23 at a closing price of $9.78, with 4.77 million shares of worth about $46.68 million changed hands on the day. Half year performance of the stock remained negative as price took a plunge of -5.23% during that period and on Thursday the price saw a gain of about 2.62%. Currently the company’s common shares owned by public are about 291.72M shares, out of which, 285.61M shares are available for trading.
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According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 62 times over the past 12 months. They bought 1,140,183 shares in 43 of the transactions. In 19 selling transactions, insiders dumped 325,170 shares.
iShares Core S&P Small Cap ETF, Vanguard Real Estate Index Fund, and Vanguard Total Stock Market ETF are the top 3 mutual funds which are holding stakes in LXP Industrial Trust iShares Core S&P Small Cap ETF is currently holding 19.69 million shares of worth totaling $155.71 million. The company recently came selling 62343.0 shares which brought its stake up to 6.73% of the company’s outstanding shares. Vanguard Real Estate Index Fund sold 84460.0 shares, after which its hold over company’s outstanding shares shrunk to 4.12%, leaving 12.06 million shares with the mutual fund that have a worth of about $95.41 million. Vanguard Total Stock Market ETF, after buying 9.24 million shares, have now control over 3.16% of the stake in the company. It holds 26973.0 shares of worth $73.08 million.
However, the stock later moved at a day high price of 9.87, or with a gain of 2.62%. Stock saw a price change of 6.65% in past 5 days and over the past one month there was a price change of 14.52%. Year-to-date (YTD), LXP shares are showing a performance of -2.40% which decreased to -9.28% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $7.75 but also hit the highest price of $11.92 during that period. The average intraday trading volume for LXP Industrial Trust shares is 2.28 million. The stock is currently trading 11.29% above its 20-day simple moving average (SMA20), while that difference is up 15.04% for SMA50 and it goes to 2.78% higher than SMA200.
SSgA Funds Management, Inc. acquired 18.66 million shares of LXP Industrial Trust having value of about $147.58 million. Data submitted at the U.S SEC by SSgA Funds Management, Inc. revealed that the firm now holds 0.11 million shares in the company valued at close to $1087526.22, or have control over 0.60% stake in the company. LXP Industrial Trust (NYSE: LXP) currently have 291.72M outstanding shares and institutions hold larger chunk of about 94.01% of that. Holding of mutual funds in the company is about 32.16% while other institutional holders and individual stake holders have control over 62.13% and 10.06% of the stake respectively.
The stock has a current market capitalization of $2.86B and its 3Y-monthly beta is at 0.86. PE ratio of stock for trailing 12 months is 57.29, while it has posted earnings per share of $0.17 in the same period. Its PEG reads 11.46 while making debt-to-equity ratio of 0.67. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for LXP, volatility over the week remained 2.31% while standing at 2.15% over the month.
Analysts are in expectations that LXP Industrial Trust (LXP) stock would likely to be making an EPS of $0 in the current quarter, while forecast for next quarter EPS is $0 and it is -$0.03 for next year. For the current quarter EPS, analysts have given the company a lowest target $0 which is $0 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of $0.13 in the same quarter a year ago. Stock’s fiscal year EPS is expected to drop by -90.74% while it is estimated to decrease by -184.14% in next year. EPS is likely to grow at an annualized rate of 5.00% for next 5-years, compared to annual growth of 3.01% made by the stock over the past 5-years.
Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by KeyBanc Capital Markets on May 15, 2023 offering an Overweight rating for the stock and assigned a target price of $12 to it.
