Evergreen Capital Management LLC Increases Stake in LXP Industrial Trust (NYSE:LXP)

Evergreen Capital Management LLC increased its position in shares of LXP Industrial Trust (NYSE:LXP) by 58.2% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 42,506 shares of the real estate investment trust’s stock after buying an additional 15,640 shares during the period. Evergreen Capital Management LLC’s holdings in LXP Industrial Trust were worth $393,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in LXP. Long Pond Capital LP lifted its holdings in LXP Industrial Trust by 139.3% during the 1st quarter. Long Pond Capital LP now owns 7,447,513 shares of the real estate investment trust’s stock worth $67,177,000 after buying an additional 4,335,751 shares during the last quarter. Dimensional Fund Advisors LP raised its position 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 worth $39,982,000 after acquiring an additional 293,078 shares in the last quarter. William Blair Investment Management LLC purchased a new stake in LXP Industrial Trust during the second quarter worth approximately $36,683,000. Norges Bank acquired a new position in LXP Industrial Trust in the fourth quarter valued at approximately $31,529,000. Finally, Bank of New York Mellon Corp increased its stake in LXP Industrial Trust by 2.1% in the second 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 purchasing an additional 65,202 shares during the last quarter. Institutional investors and hedge funds own 93.52% of the company’s stock.

LXP Industrial Trust Stock Performance

Shares of LXP Industrial Trust stock opened at $10.15 on Friday. The firm’s fifty day simple moving average is $10.08 and its 200-day simple moving average is $9.31. LXP Industrial Trust has a 12 month low of $7.75 and a 12 month high of $10.56. The stock has a market capitalization of $2.99 billion, a price-to-earnings ratio of 253.75 and a beta of 0.87. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.11 and a quick ratio of 0.11.

LXP Industrial Trust Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th will be issued a $0.13 dividend. The ex-dividend date of this dividend is Monday, September 30th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 5.12%. LXP Industrial Trust’s payout ratio is 1,300.00%.

Analyst Ratings Changes

Several analysts have 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 research report on Monday, September 16th. BNP Paribas initiated coverage on shares of LXP Industrial Trust in a research note on Tuesday, June 4th. They issued an “outperform” rating and a $11.00 price objective for the company. Finally, Jefferies Financial Group lifted their target price on LXP Industrial Trust from $11.00 to $12.00 and gave the stock a “buy” rating in a research report on Friday, June 7th. One 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 MarketBeat, LXP Industrial Trust presently has an average rating of “Hold” and a consensus price target of $11.25.

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.