LXP Industrial Trust (NYSE:LXP) Hits New 1-Year Low – Time to Sell?

LXP Industrial Trust (NYSE:LXP)’s stock price reached a new 52-week low on Thursday . The company traded as low as $8.20 and last traded at $8.22, with a volume of 3299577 shares changing hands. The stock had previously closed at $8.39.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. JMP Securities reiterated a “market perform” rating on shares of LXP Industrial Trust in a research note on Friday. Evercore ISI upped their price target on LXP Industrial Trust from $10.00 to $11.00 and gave the stock an “in-line” rating in a research report on Monday, September 16th. One research analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $11.33.

LXP Industrial Trust Trading Up 1.2 %

The stock has a market cap of $2.45 billion, a price-to-earnings ratio of 138.69 and a beta of 0.86. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.12 and a quick ratio of 0.12. The company’s fifty day moving average price is $9.32 and its 200-day moving average price is $9.58.

LXP Industrial Trust Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be issued a $0.135 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. 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. LXP Industrial Trust’s dividend payout ratio (DPR) is currently 900.00%.

Hedge Funds Weigh In On LXP Industrial Trust

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of LXP Industrial Trust by 340.6% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,213,117 shares of the real estate investment trust’s stock valued at $22,242,000 after purchasing an additional 1,710,867 shares during the period. Sumitomo Mitsui Trust Group Inc. boosted its position in LXP Industrial Trust by 16.5% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,792,408 shares of the real estate investment trust’s stock valued at $28,064,000 after buying an additional 395,798 shares during the last quarter. Natixis Advisors LLC increased its holdings in LXP Industrial Trust by 171.9% in the 3rd quarter. Natixis Advisors LLC now owns 239,232 shares of the real estate investment trust’s stock worth $2,404,000 after buying an additional 151,253 shares during the period. Victory Capital Management Inc. raised its position in LXP Industrial Trust by 5.8% during the 2nd quarter. Victory Capital Management Inc. now owns 2,941,937 shares of the real estate investment trust’s stock worth $26,830,000 after buying an additional 160,651 shares during the last quarter. Finally, Jane Street Group LLC lifted its stake in LXP Industrial Trust by 101.3% during the 3rd quarter. Jane Street Group LLC now owns 546,430 shares of the real estate investment trust’s stock valued at $5,492,000 after acquiring an additional 274,933 shares during the period. Hedge funds and other institutional investors own 93.52% of the company’s stock.

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.