Verition Fund Management LLC Lowers Position in LXP Industrial Trust (NYSE:LXP)

Verition Fund Management LLC decreased its holdings in shares of LXP Industrial Trust (NYSE:LXP) by 31.3% during the third quarter, according to its most recent filing with the SEC. The firm owned 765,755 shares of the real estate investment trust’s stock after selling 348,870 shares during the period. Verition Fund Management LLC owned 0.26% of LXP Industrial Trust worth $7,696,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of LXP. Price T Rowe Associates Inc. MD increased its holdings in LXP Industrial Trust by 6.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 167,144 shares of the real estate investment trust’s stock valued at $1,508,000 after buying an additional 10,594 shares during the period. SG Americas Securities LLC raised its position in shares of LXP Industrial Trust by 294.3% in the 2nd quarter. SG Americas Securities LLC now owns 153,093 shares of the real estate investment trust’s stock worth $1,396,000 after acquiring an additional 114,269 shares in the last quarter. Sequoia Financial Advisors LLC purchased a new stake in shares of LXP Industrial Trust during the 2nd quarter worth $92,000. Diversified Trust Co boosted its position in LXP Industrial Trust by 199.1% during the second quarter. Diversified Trust Co now owns 36,792 shares of the real estate investment trust’s stock valued at $336,000 after purchasing an additional 24,492 shares in the last quarter. Finally, AlphaMark Advisors LLC grew its stake in LXP Industrial Trust by 18.3% in the second quarter. AlphaMark Advisors LLC now owns 36,316 shares of the real estate investment trust’s stock valued at $331,000 after purchasing an additional 5,621 shares during the last quarter. Institutional investors own 93.52% of the company’s stock.

Analysts Set New Price Targets

Separately, Evercore ISI increased their price target on shares of LXP Industrial Trust from $10.00 to $11.00 and gave the company an “in-line” rating in a research report on Monday, September 16th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the company. According to MarketBeat, LXP Industrial Trust presently has a consensus rating of “Hold” and an average target price of $11.25.

LXP Industrial Trust Stock Down 0.7 %

Shares of LXP stock opened at $9.35 on Monday. The stock’s fifty day moving average price is $9.59 and its 200 day moving average price is $9.56. LXP Industrial Trust has a 1-year low of $8.23 and a 1-year high of $10.56. The company has a market cap of $2.75 billion, a price-to-earnings ratio of 155.86 and a beta of 0.88. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.12 and a quick ratio of 0.12.

LXP Industrial Trust Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be issued a dividend of $0.135 per share. The ex-dividend date is Tuesday, December 31st. This represents a $0.54 annualized dividend and a dividend yield of 5.78%. This is an increase from LXP Industrial Trust’s previous quarterly dividend of $0.13. LXP Industrial Trust’s dividend payout ratio is 866.81%.

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.