LXP Industrial Trust (NYSE:LXP) Sees Significant Decrease in Short Interest

LXP Industrial Trust (NYSE:LXP) saw a significant drop in short interest in the month of September. As of September 15th, there was short interest totalling 4,090,000 shares, a drop of 14.6% from the August 31st total of 4,790,000 shares. Based on an average daily volume of 2,260,000 shares, the days-to-cover ratio is presently 1.8 days.

Hedge Funds Weigh In On LXP Industrial Trust

A number of large investors have recently modified their holdings of LXP. Blue Trust Inc. lifted its stake in LXP Industrial Trust by 1,596.2% in the second quarter. Blue Trust Inc. now owns 3,138 shares of the real estate investment trust’s stock valued at $28,000 after acquiring an additional 2,953 shares during the last quarter. CWM LLC boosted its stake in LXP Industrial Trust by 52.4% in the 1st 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. SageView Advisory Group LLC acquired a new position in LXP Industrial Trust in the 1st quarter valued at $61,000. Central Pacific Bank Trust Division acquired a new position in LXP Industrial Trust in the 1st quarter valued at $74,000. Finally, Sequoia Financial Advisors LLC bought a new position in LXP Industrial Trust during the 2nd quarter worth $92,000. 93.52% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

LXP has been the topic of a number of research reports. 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 research note on Friday, June 7th. Evercore ISI boosted their price objective on shares of LXP Industrial Trust from $10.00 to $11.00 and gave the company an “in-line” rating in a research report on Monday, September 16th. Finally, BNP Paribas began coverage on shares of LXP Industrial Trust in a research note on Tuesday, June 4th. They issued an “outperform” rating and a $11.00 target price for the company. One equities 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 stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $11.25.

LXP Industrial Trust Stock Up 0.1 %

Shares of NYSE LXP traded up $0.01 during midday trading on Friday, reaching $10.16. The company’s stock had a trading volume of 1,972,653 shares, compared to its average volume of 2,290,335. The stock has a 50 day simple moving average of $10.08 and a 200-day simple moving average of $9.33. 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 stock has a market capitalization of $2.99 billion, a price-to-earnings ratio of 254.00 and a beta of 0.87. LXP Industrial Trust has a fifty-two week low of $7.75 and a fifty-two week high of $10.56.

LXP Industrial Trust Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th will be given a dividend of $0.13 per share. The ex-dividend date is Monday, September 30th. This represents a $0.52 annualized dividend and a yield of 5.12%. LXP Industrial Trust’s dividend payout ratio (DPR) is presently 1,300.00%.

LXP Industrial Trust Company 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.