Evercore ISI Increases LXP Industrial Trust (NYSE:LXP) Price Target to $10.00

LXP Industrial Trust (NYSE:LXP) had its target price boosted by equities researchers at Evercore ISI from $9.00 to $10.00 in a report released on Wednesday, Benzinga reports. The firm currently has an “in-line” rating on the real estate investment trust’s stock. Evercore ISI’s price objective points to a potential downside of 2.63% from the stock’s previous close.

A number of other brokerages have also commented on LXP. StockNews.com lowered LXP Industrial Trust from a “hold” rating to a “sell” rating in a research report on Friday, May 3rd. BNP Paribas started coverage on LXP Industrial Trust in a research report on Tuesday, June 4th. They issued an “outperform” rating and a $11.00 price objective for the company. Finally, Jefferies Financial Group boosted their target price on LXP Industrial Trust from $11.00 to $12.00 and gave the stock a “buy” rating in a research report on Friday, June 7th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, LXP Industrial Trust presently has an average rating of “Hold” and an average target price of $11.00.

LXP Industrial Trust Price Performance

Shares of LXP stock opened at $10.27 on Wednesday. The stock has a 50-day moving average price of $9.78 and a 200 day moving average price of $9.12. The company has a quick ratio of 0.27, a current ratio of 0.11 and a debt-to-equity ratio of 0.21. The firm has a market cap of $3.02 billion, a price-to-earnings ratio of 256.75 and a beta of 0.86. LXP Industrial Trust has a 12 month low of $7.75 and a 12 month high of $10.56.

Insider Transactions at LXP Industrial Trust

In related news, Director Arun Gupta bought 15,000 shares of the firm’s stock in a transaction dated Wednesday, June 12th. The stock was bought at an average cost of $8.95 per share, for a total transaction of $134,250.00. Following the transaction, the director now owns 65,474 shares of the company’s stock, valued at $585,992.30. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 2.17% of the company’s stock.

Hedge Funds Weigh In On LXP Industrial Trust

Several institutional investors and hedge funds have recently modified their holdings of LXP. CWM LLC grew its position in shares of LXP Industrial Trust by 65.1% in the 4th 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 period. California Public Employees Retirement System grew its position in shares of LXP Industrial Trust by 0.6% in the 4th quarter. California Public Employees Retirement System now owns 1,477,187 shares of the real estate investment trust’s stock valued at $14,654,000 after purchasing an additional 8,860 shares during the period. New York State Common Retirement Fund grew its position in shares of LXP Industrial Trust by 5.0% in the 4th quarter. New York State Common Retirement Fund now owns 119,240 shares of the real estate investment trust’s stock valued at $1,183,000 after purchasing an additional 5,670 shares during the period. Atria Wealth Solutions Inc. grew its position in shares of LXP Industrial Trust by 10.1% in the 4th quarter. Atria Wealth Solutions Inc. now owns 44,800 shares of the real estate investment trust’s stock valued at $444,000 after purchasing an additional 4,127 shares during the period. Finally, Van ECK Associates Corp grew its position in shares of LXP Industrial Trust by 19.7% in the 4th quarter. Van ECK Associates Corp now owns 40,614 shares of the real estate investment trust’s stock valued at $403,000 after purchasing an additional 6,678 shares during the period. 93.52% of the stock is currently owned by institutional investors and hedge funds.

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.