Pensionfund Sabic Raises Stake in LXP Industrial Trust (NYSE:LXP)

Pensionfund Sabic raised its stake in LXP Industrial Trust (NYSE:LXP) by 24.7% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 96,000 shares of the real estate investment trust’s stock after purchasing an additional 19,000 shares during the quarter. Pensionfund Sabic’s holdings in LXP Industrial Trust were worth $866,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of LXP. CWM LLC lifted its position in LXP Industrial Trust by 65.1% in the fourth quarter. CWM LLC now owns 3,298 shares of the real estate investment trust’s stock valued at $33,000 after purchasing an additional 1,300 shares during the last quarter. Sherbrooke Park Advisers LLC bought a new stake in LXP Industrial Trust in the third quarter valued at approximately $90,000. Quadrant Capital Group LLC lifted its position in LXP Industrial Trust by 84.0% in the fourth quarter. Quadrant Capital Group LLC now owns 9,211 shares of the real estate investment trust’s stock valued at $91,000 after purchasing an additional 4,206 shares during the last quarter. Raymond James Financial Services Advisors Inc. bought a new stake in LXP Industrial Trust in the fourth quarter valued at approximately $112,000. Finally, Oak Thistle LLC bought a new stake in LXP Industrial Trust in the fourth quarter valued at approximately $124,000. Institutional investors own 93.52% of the company’s stock.

Insider Buying and Selling

In other news, Director Arun Gupta purchased 15,000 shares of LXP Industrial Trust stock in a transaction that occurred on Wednesday, June 12th. The shares were bought at an average cost of $8.95 per share, with a total value of $134,250.00. Following the completion of the purchase, the director now directly owns 65,474 shares in the company, valued at $585,992.30. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 2.17% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. StockNews.com downgraded LXP Industrial Trust from a “hold” rating to a “sell” rating in a report on Friday, May 3rd. Jefferies Financial Group upped their target price on LXP Industrial Trust from $11.00 to $12.00 and gave the company a “buy” rating in a report on Friday, June 7th. Finally, BNP Paribas assumed coverage on LXP Industrial Trust in a report on Tuesday, June 4th. They set an “outperform” rating and a $11.00 target price for the company.

LXP Industrial Trust Price Performance

Shares of LXP stock opened at $8.89 on Thursday. The stock has a market cap of $2.62 billion, a price-to-earnings ratio of 222.31 and a beta of 0.85. The business’s fifty day moving average is $8.68 and its 200 day moving average is $9.01. LXP Industrial Trust has a twelve month low of $7.75 and a twelve month high of $10.75. The company has a quick ratio of 0.27, a current ratio of 0.27 and a debt-to-equity ratio of 0.20.

LXP Industrial Trust Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Friday, June 28th will be paid a $0.13 dividend. The ex-dividend date is Friday, June 28th. This represents a $0.52 annualized dividend and a yield of 5.85%. LXP Industrial Trust’s payout ratio is 1,300.33%.

LXP Industrial Trust 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.