LXP Industrial Trust’s (LXP) Market Perform Rating Reaffirmed at JMP Securities

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

Separately, Evercore ISI lifted their target price on 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 analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $11.33.

LXP Industrial Trust Price Performance

Shares of LXP opened at $8.32 on Friday. 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 stock has a market cap of $2.45 billion, a PE ratio of 138.69 and a beta of 0.86. The firm has a 50-day simple moving average of $9.32 and a two-hundred day simple moving average of $9.58. LXP Industrial Trust has a 1-year low of $8.08 and a 1-year high of $10.56.

LXP Industrial Trust Increases Dividend

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

Hedge Funds Weigh In On LXP Industrial Trust

Hedge funds and other institutional investors have recently bought and sold shares of the company. Blue Trust Inc. increased its stake in shares of LXP Industrial Trust by 1,596.2% during the second quarter. Blue Trust Inc. now owns 3,138 shares of the real estate investment trust’s stock worth $28,000 after acquiring an additional 2,953 shares during the period. Louisiana State Employees Retirement System lifted its holdings in LXP Industrial Trust by 2.2% in the 2nd quarter. Louisiana State Employees Retirement System now owns 148,100 shares of the real estate investment trust’s stock valued at $1,351,000 after purchasing an additional 3,200 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in shares of LXP Industrial Trust by 2.1% during the 2nd 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 purchasing an additional 65,202 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in LXP Industrial Trust by 2.4% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 132,891 shares of the real estate investment trust’s stock worth $1,212,000 after buying an additional 3,114 shares during the period. Finally, Panagora Asset Management Inc. acquired a new position in shares of LXP Industrial Trust during the 2nd quarter valued at about $1,132,000. 93.52% of the stock is currently owned by hedge funds and other institutional investors.

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.