Evercore ISI Increases LXP Industrial Trust (NYSE:LXP) Price Target to $11.00

LXP Industrial Trust (NYSE:LXP) had its target price upped by Evercore ISI from $10.00 to $11.00 in a research report report published on Monday morning, Benzinga reports. The firm currently has an in-line rating on the real estate investment trust’s stock.

Several other equities research analysts have also recently issued reports on the stock. BNP Paribas started coverage on shares of LXP Industrial Trust in a research report on Tuesday, June 4th. They issued an outperform rating and a $11.00 target price on the stock. Jefferies Financial Group lifted their price target on shares of LXP Industrial Trust from $11.00 to $12.00 and gave the company a buy rating in a report on Friday, June 7th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of Hold and an average price target of $11.25.

LXP Industrial Trust Stock Up 0.6 %

Shares of NYSE:LXP opened at $10.22 on Monday. The company has a current ratio of 0.11, a quick ratio of 0.11 and a debt-to-equity ratio of 0.21. The firm has a market cap of $3.01 billion, a price-to-earnings ratio of 255.50 and a beta of 0.87. The stock’s 50-day moving average price is $10.02 and its two-hundred day moving average price is $9.25. LXP Industrial Trust has a 12-month low of $7.75 and a 12-month high of $10.56.

LXP Industrial Trust Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Monday, September 30th will be given a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a yield of 5.09%. The ex-dividend date of this dividend is Monday, September 30th. LXP Industrial Trust’s dividend payout ratio (DPR) is presently 1,300.00%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Inspire Investing LLC raised its stake in shares of LXP Industrial Trust by 3.0% in the 1st quarter. Inspire Investing LLC now owns 39,750 shares of the real estate investment trust’s stock valued at $359,000 after acquiring an additional 1,147 shares during the period. CWM LLC raised its position in LXP Industrial Trust by 52.4% in the first quarter. CWM LLC now owns 5,026 shares of the real estate investment trust’s stock valued at $45,000 after purchasing an additional 1,728 shares during the period. Arizona State Retirement System lifted its stake in shares of LXP Industrial Trust by 2.4% during the second quarter. Arizona State Retirement System now owns 82,387 shares of the real estate investment trust’s stock worth $751,000 after purchasing an additional 1,964 shares in the last quarter. CIBC Asset Management Inc boosted its position in shares of LXP Industrial Trust by 6.6% in the fourth quarter. CIBC Asset Management Inc now owns 32,110 shares of the real estate investment trust’s stock worth $319,000 after buying an additional 1,979 shares during the period. Finally, Dakota Wealth Management grew its stake in shares of LXP Industrial Trust by 21.5% in the second quarter. Dakota Wealth Management now owns 12,315 shares of the real estate investment trust’s stock valued at $112,000 after buying an additional 2,177 shares in the last quarter. 93.52% of the stock is 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.