LXP Industrial Trust (NYSE:LXP) Shares Purchased by TCW Group Inc.

TCW Group Inc. lifted its stake in shares of LXP Industrial Trust (NYSE:LXP) by 21.7% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 99,682 shares of the real estate investment trust’s stock after acquiring an additional 17,767 shares during the quarter. TCW Group Inc.’s holdings in LXP Industrial Trust were worth $909,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the stock. Blue Trust Inc. raised its position 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 purchasing an additional 2,953 shares during the period. Vanderbilt University acquired a new stake in LXP Industrial Trust during the 2nd quarter worth about $1,227,000. AlphaMark Advisors LLC boosted its holdings in shares of 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 worth $331,000 after buying an additional 5,621 shares during the period. Diversified Trust Co increased its position in shares of LXP Industrial Trust by 199.1% in the second quarter. Diversified Trust Co now owns 36,792 shares of the real estate investment trust’s stock worth $336,000 after acquiring an additional 24,492 shares in the last quarter. Finally, Sequoia Financial Advisors LLC acquired a new stake in shares of LXP Industrial Trust during the second quarter valued at approximately $92,000. 93.52% of the stock is currently owned by institutional investors and hedge funds.

LXP Industrial Trust Price Performance

Shares of LXP opened at $9.80 on Monday. The firm’s 50 day moving average price is $9.55 and its 200 day moving average price is $9.05. LXP Industrial Trust has a twelve month low of $7.75 and a twelve month high of $10.56. The firm has a market cap of $2.88 billion, a PE ratio of 245.00 and a beta of 0.86. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.27 and a current ratio of 0.11.

LXP Industrial Trust Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, July 15th. Stockholders of record on Friday, June 28th were paid a dividend of $0.13 per share. The ex-dividend date of this dividend was Friday, June 28th. This represents a $0.52 annualized dividend and a dividend yield of 5.31%. LXP Industrial Trust’s dividend payout ratio (DPR) is presently 1,300.00%.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on LXP shares. BNP Paribas assumed coverage on shares of LXP Industrial Trust in a research note on Tuesday, June 4th. They set an “outperform” rating and a $11.00 target price on the stock. StockNews.com lowered LXP Industrial Trust from a “hold” rating to a “sell” rating in a research report on Friday, May 3rd. Jefferies Financial Group lifted their target price on LXP Industrial Trust from $11.00 to $12.00 and gave the company a “buy” rating in a research note on Friday, June 7th. Finally, Evercore ISI upgraded LXP Industrial Trust to a “hold” rating in a report on Thursday, August 1st. One research analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $11.33.

Insider Activity

In related news, Director Arun Gupta purchased 15,000 shares of the stock in a transaction on Wednesday, June 12th. The shares were bought at an average price of $8.95 per share, for a total transaction of $134,250.00. Following the completion of the acquisition, the director now directly owns 65,474 shares in the company, valued at approximately $585,992.30. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 2.17% of the stock is currently owned by insiders.

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.