LXP Industrial Trust (NYSE:LXP) Receives Market Perform Rating from JMP Securities

JMP Securities reissued their market perform rating on shares of LXP Industrial Trust (NYSE:LXP) in a research note released on Friday,Benzinga reports.

Separately, Evercore ISI boosted their price objective on shares of LXP Industrial Trust from $10.00 to $11.00 and gave the stock an “in-line” rating in a report on Monday, September 16th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $11.33.

LXP Industrial Trust Stock Up 1.2 %

Shares of LXP Industrial Trust stock opened at $8.32 on Friday. The company has a fifty day moving average price of $9.32 and a 200 day moving average price of $9.58. The company has a current ratio of 0.12, a quick ratio of 0.12 and a debt-to-equity ratio of 0.21. LXP Industrial Trust has a twelve month low of $8.08 and a twelve month high of $10.56. The stock has a market cap of $2.45 billion, a price-to-earnings ratio of 138.69 and a beta of 0.86.

LXP Industrial Trust Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be issued a dividend of $0.135 per share. This represents a $0.54 dividend on an annualized basis and a dividend yield of 6.49%. This is a boost from LXP Industrial Trust’s previous quarterly dividend of $0.13. The ex-dividend date of this dividend is Tuesday, December 31st. LXP Industrial Trust’s dividend payout ratio is 900.00%.

Hedge Funds Weigh In On LXP Industrial Trust

Hedge funds and other institutional investors have recently made changes to their positions in the business. Geode Capital Management LLC increased its holdings in shares of LXP Industrial Trust by 1.3% during the third quarter. Geode Capital Management LLC now owns 7,388,828 shares of the real estate investment trust’s stock valued at $74,271,000 after purchasing an additional 92,409 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in shares of LXP Industrial Trust by 4.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 5,285,807 shares of the real estate investment trust’s stock valued at $53,122,000 after acquiring an additional 209,718 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in shares of LXP Industrial Trust by 7.2% during the second quarter. Dimensional Fund Advisors LP now owns 4,383,993 shares of the real estate investment trust’s stock valued at $39,982,000 after acquiring an additional 293,078 shares during the period. William Blair Investment Management LLC bought a new position in LXP Industrial Trust during the 2nd quarter valued at $36,683,000. Finally, Bank of New York Mellon Corp raised its position in LXP Industrial Trust by 2.1% in the second quarter. Bank of New York Mellon Corp now owns 3,102,610 shares of the real estate investment trust’s stock worth $28,296,000 after acquiring an additional 65,202 shares in the last quarter. 93.52% of the stock is currently owned by institutional investors and hedge funds.

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.