Creative Planning Buys 2,303 Shares of LXP Industrial Trust (NYSE:LXP)

Creative Planning lifted its stake in LXP Industrial Trust (NYSE:LXP) by 4.8% during the third quarter, HoldingsChannel.com reports. The firm owned 50,198 shares of the real estate investment trust’s stock after purchasing an additional 2,303 shares during the quarter. Creative Planning’s holdings in LXP Industrial Trust were worth $504,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the stock. Long Pond Capital LP lifted its position in LXP Industrial Trust by 139.3% in the 1st 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 holdings in shares of LXP Industrial Trust by 7.2% during the 2nd 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 buying an additional 293,078 shares during the period. William Blair Investment Management LLC bought a new position in shares of LXP Industrial Trust during the 2nd quarter valued at $36,683,000. Bank of New York Mellon Corp lifted its holdings in shares of LXP Industrial Trust by 2.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 3,102,610 shares of the real estate investment trust’s stock valued at $28,296,000 after buying an additional 65,202 shares during the period. Finally, Victory Capital Management Inc. lifted its holdings in shares of LXP Industrial Trust by 5.8% during the 2nd quarter. Victory Capital Management Inc. now owns 2,941,937 shares of the real estate investment trust’s stock valued at $26,830,000 after buying an additional 160,651 shares during the period. 93.52% of the stock is owned by institutional investors.

LXP Industrial Trust Stock Performance

NYSE:LXP opened at $9.29 on Wednesday. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.11 and a quick ratio of 0.11. The firm has a market capitalization of $2.73 billion, a price-to-earnings ratio of 116.14 and a beta of 0.88. LXP Industrial Trust has a one year low of $8.08 and a one year high of $10.56. The business has a fifty day moving average price of $9.88 and a 200-day moving average price of $9.46.

LXP Industrial Trust Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders 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 dividend on an annualized basis and a yield of 5.60%. LXP Industrial Trust’s payout ratio is presently 650.08%.

Analyst Ratings Changes

Separately, Evercore ISI increased their price target on LXP Industrial Trust from $10.00 to $11.00 and gave the company an “in-line” rating in a report on Monday, September 16th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, LXP Industrial Trust currently has a consensus rating of “Hold” and an average target price of $11.25.

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.