LXP Industrial Trust (NYSE:LXP) Hits New 1-Year Low – Here’s Why

LXP Industrial Trust (NYSE:LXP)’s stock price reached a new 52-week low during trading on Friday . The company traded as low as $7.84 and last traded at $7.86, with a volume of 134386 shares changing hands. The stock had previously closed at $8.02.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. Evercore ISI boosted their price objective on shares of LXP Industrial Trust from $10.00 to $11.00 and gave the stock an “in-line” rating in a report on Monday, September 16th. JMP Securities reaffirmed a “market perform” rating on shares of LXP Industrial Trust in a report on Friday, December 20th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $11.33.

LXP Industrial Trust Stock Performance

The business’s 50-day simple moving average is $8.88 and its 200 day simple moving average is $9.52. The firm has a market cap of $2.27 billion, a P/E ratio of 128.69 and a beta of 0.89. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.12 and a current ratio of 0.12.

LXP Industrial Trust Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be issued a $0.135 dividend. This is an increase from LXP Industrial Trust’s previous quarterly dividend of $0.13. The ex-dividend date is Tuesday, December 31st. This represents a $0.54 dividend on an annualized basis and a yield of 6.99%. LXP Industrial Trust’s dividend payout ratio is currently 900.00%.

Institutional Trading of LXP Industrial Trust

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of LXP Industrial Trust by 340.6% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,213,117 shares of the real estate investment trust’s stock worth $22,242,000 after purchasing an additional 1,710,867 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. raised its stake in shares of LXP Industrial Trust by 16.5% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,792,408 shares of the real estate investment trust’s stock worth $28,064,000 after buying an additional 395,798 shares during the period. Natixis Advisors LLC lifted its position in shares of LXP Industrial Trust by 171.9% during the 3rd quarter. Natixis Advisors LLC now owns 239,232 shares of the real estate investment trust’s stock valued at $2,404,000 after buying an additional 151,253 shares in the last quarter. Jane Street Group LLC grew its stake in shares of LXP Industrial Trust by 101.3% during the 3rd quarter. Jane Street Group LLC now owns 546,430 shares of the real estate investment trust’s stock valued at $5,492,000 after acquiring an additional 274,933 shares during the period. Finally, BNP Paribas Financial Markets increased its holdings in LXP Industrial Trust by 44.4% in the 3rd quarter. BNP Paribas Financial Markets now owns 199,612 shares of the real estate investment trust’s stock worth $2,006,000 after acquiring an additional 61,387 shares in the last quarter. 93.52% of the stock is owned by hedge funds and other institutional investors.

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.