LXP Industrial Trust (NYSE:LXP) Sets New 1-Year Low – Here’s What Happened

LXP Industrial Trust (NYSE:LXP) reached a new 52-week low during trading on Friday . The company traded as low as $7.84 and last traded at $7.86, with a volume of 134386 shares trading hands. The stock had previously closed at $8.02.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. Evercore ISI increased their price target on shares of 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. JMP Securities reiterated a “market perform” rating on shares of LXP Industrial Trust in a report on Friday, December 20th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, LXP Industrial Trust has a consensus rating of “Hold” and a consensus price target of $11.33.

LXP Industrial Trust Stock Down 1.9 %

The company has a current ratio of 0.12, a quick ratio of 0.12 and a debt-to-equity ratio of 0.21. The stock has a 50-day moving average of $8.91 and a 200-day moving average of $9.52. The firm has a market cap of $2.32 billion, a price-to-earnings ratio of 131.19 and a beta of 0.89.

LXP Industrial Trust Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be issued a $0.135 dividend. This represents a $0.54 dividend on an annualized basis and a dividend yield of 6.86%. The ex-dividend date is Tuesday, December 31st. This is a boost from LXP Industrial Trust’s previous quarterly dividend of $0.13. LXP Industrial Trust’s dividend payout ratio (DPR) is 900.00%.

Institutional Investors Weigh In On LXP Industrial Trust

Several large investors have recently made changes to their positions in the company. GAMMA Investing LLC increased its position in LXP Industrial Trust by 81.1% in the 3rd quarter. GAMMA Investing LLC now owns 3,421 shares of the real estate investment trust’s stock valued at $34,000 after acquiring an additional 1,532 shares during the period. First Hawaiian Bank bought a new position in shares of LXP Industrial Trust in the fourth quarter worth $100,000. KBC Group NV increased its holdings in shares of LXP Industrial Trust by 32.7% during the third quarter. KBC Group NV now owns 10,170 shares of the real estate investment trust’s stock valued at $102,000 after purchasing an additional 2,504 shares during the period. Quest Partners LLC raised its stake in shares of LXP Industrial Trust by 8,053.5% during the second quarter. Quest Partners LLC now owns 11,741 shares of the real estate investment trust’s stock valued at $107,000 after purchasing an additional 11,597 shares in the last quarter. Finally, Meeder Advisory Services Inc. acquired a new stake in LXP Industrial Trust in the second quarter worth about $111,000. Institutional investors and hedge funds 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.