Louisiana State Employees Retirement System Lowers Stake in LXP Industrial Trust (NYSE:LXP)

Louisiana State Employees Retirement System reduced its holdings in shares of LXP Industrial Trust (NYSE:LXP) by 3.9% during the 3rd quarter, HoldingsChannel reports. The firm owned 142,300 shares of the real estate investment trust’s stock after selling 5,800 shares during the period. Louisiana State Employees Retirement System’s holdings in LXP Industrial Trust were worth $1,430,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Long Pond Capital LP boosted its holdings in shares of LXP Industrial Trust by 139.3% in the first quarter. Long Pond Capital LP now owns 7,447,513 shares of the real estate investment trust’s stock valued at $67,177,000 after acquiring an additional 4,335,751 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of LXP Industrial Trust by 7.2% in the second quarter. Dimensional Fund Advisors LP now owns 4,383,993 shares of the real estate investment trust’s stock valued at $39,982,000 after purchasing an additional 293,078 shares during the period. William Blair Investment Management LLC acquired a new position in LXP Industrial Trust during the second quarter worth about $36,683,000. Bank of New York Mellon Corp raised its position in LXP Industrial Trust by 2.1% during the second quarter. Bank of New York Mellon Corp now owns 3,102,610 shares of the real estate investment trust’s stock worth $28,296,000 after acquiring an additional 65,202 shares during the last quarter. Finally, Victory Capital Management Inc. raised its position in LXP Industrial Trust by 5.8% during the second quarter. Victory Capital Management Inc. now owns 2,941,937 shares of the real estate investment trust’s stock worth $26,830,000 after acquiring an additional 160,651 shares during the last quarter. 93.52% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, 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. One equities 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 stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $11.25.

LXP Industrial Trust Price Performance

LXP opened at $9.22 on Friday. The company has a quick ratio of 0.11, a current ratio of 0.11 and a debt-to-equity ratio of 0.21. LXP Industrial Trust has a 52-week low of $8.08 and a 52-week high of $10.56. The company has a 50 day moving average of $9.92 and a two-hundred day moving average of $9.44. The company has a market cap of $2.71 billion, a P/E ratio of 115.26 and a beta of 0.87.

LXP Industrial Trust Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were paid a $0.13 dividend. The ex-dividend date of this dividend was Monday, September 30th. This represents a $0.52 annualized dividend and a dividend yield of 5.64%. LXP Industrial Trust’s dividend payout ratio (DPR) is presently 650.08%.

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.