Millennium Management LLC Increases Stock Position in LXP Industrial Trust (NYSE:LXP)

Millennium Management LLC increased its position in LXP Industrial Trust (NYSE:LXP) by 173.9% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,861,986 shares of the real estate investment trust’s stock after buying an additional 1,182,258 shares during the quarter. Millennium Management LLC’s holdings in LXP Industrial Trust were worth $16,981,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in LXP. Inspire Investing LLC raised its holdings in shares of LXP Industrial Trust by 3.0% in the 1st quarter. Inspire Investing LLC now owns 39,750 shares of the real estate investment trust’s stock worth $359,000 after purchasing an additional 1,147 shares during the period. CWM LLC raised its holdings in LXP Industrial Trust by 52.4% in the first quarter. CWM LLC now owns 5,026 shares of the real estate investment trust’s stock valued at $45,000 after buying an additional 1,728 shares during the period. Arizona State Retirement System lifted its position in LXP Industrial Trust by 2.4% during the second quarter. Arizona State Retirement System now owns 82,387 shares of the real estate investment trust’s stock valued at $751,000 after buying an additional 1,964 shares in the last quarter. CIBC Asset Management Inc grew its stake in LXP Industrial Trust by 6.6% during the fourth quarter. CIBC Asset Management Inc now owns 32,110 shares of the real estate investment trust’s stock worth $319,000 after buying an additional 1,979 shares during the period. Finally, Dakota Wealth Management increased its position in shares of LXP Industrial Trust by 21.5% in the second quarter. Dakota Wealth Management now owns 12,315 shares of the real estate investment trust’s stock worth $112,000 after acquiring an additional 2,177 shares in the last quarter. Institutional investors and hedge funds own 93.52% of the company’s stock.

Analysts Set New Price Targets

Separately, Evercore ISI lifted their target price on shares of 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 issued a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $11.25.

LXP Industrial Trust Price Performance

Shares of LXP stock opened at $9.75 on Friday. The firm has a fifty day simple moving average of $10.04 and a 200-day simple moving average of $9.36. The company has a market capitalization of $2.87 billion, a PE ratio of 243.75 and a beta of 0.87. LXP Industrial Trust has a twelve month low of $7.75 and a twelve month high of $10.56. The company has a current ratio of 0.11, a quick ratio of 0.11 and a debt-to-equity ratio of 0.21.

LXP Industrial Trust Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th will be given a $0.13 dividend. The ex-dividend date is Monday, September 30th. This represents a $0.52 dividend on an annualized basis and a yield of 5.33%. LXP Industrial Trust’s payout ratio is currently 1,300.00%.

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.