LXP Industrial Trust initiated with a Market Perform at JMP Securities

JMP Securities initiated coverage of LXP Industrial Trust with a Market Perform rating and no price target. The company has been de-emphasizing its exposure to the office sector over the last five years and sits in the final stages of a strategic shift, though a "declining appetite for office investments suggests the final stage of this transformation may be extended," the analyst tells investors in a research note. In addition, LXP’s leverage runs a bit high and upcoming debt maturities will likely cause some earnings drag, says the firm. It views the shares as fairly valued.