Sumitomo Mitsui Trust Holdings Inc. Purchases 2,065,667 Shares of LXP Industrial Trust (NYSE:LXP)

Sumitomo Mitsui Trust Holdings Inc. raised its position in LXP Industrial Trust (NYSE:LXP) by 624.2% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,396,610 shares of the real estate investment trust’s stock after buying an additional 2,065,667 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc. owned about 0.81% of LXP Industrial Trust worth $21,857,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Inspire Investing LLC lifted its position in shares of LXP Industrial Trust by 3.0% during the 1st quarter. Inspire Investing LLC now owns 39,750 shares of the real estate investment trust’s stock worth $359,000 after buying an additional 1,147 shares during the last quarter. CWM LLC boosted its stake in shares of LXP Industrial Trust by 65.1% in the 4th quarter. CWM LLC now owns 3,298 shares of the real estate investment trust’s stock valued at $33,000 after purchasing an additional 1,300 shares in the last quarter. CIBC Asset Management Inc boosted its stake in shares of LXP Industrial Trust by 6.6% in the 4th quarter. CIBC Asset Management Inc now owns 32,110 shares of the real estate investment trust’s stock valued at $319,000 after purchasing an additional 1,979 shares in the last quarter. Metis Global Partners LLC grew its holdings in shares of LXP Industrial Trust by 12.5% during the 4th quarter. Metis Global Partners LLC now owns 19,311 shares of the real estate investment trust’s stock valued at $192,000 after purchasing an additional 2,149 shares during the last quarter. Finally, Vanguard Personalized Indexing Management LLC increased its position in LXP Industrial Trust by 14.8% during the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 18,279 shares of the real estate investment trust’s stock worth $181,000 after purchasing an additional 2,353 shares in the last quarter. 93.52% of the stock is currently owned by institutional investors and hedge funds.

LXP Industrial Trust Stock Down 0.5 %

Shares of NYSE:LXP opened at $9.80 on Wednesday. The firm has a market cap of $2.88 billion, a P/E ratio of 244.88 and a beta of 0.86. LXP Industrial Trust has a 12-month low of $7.75 and a 12-month high of $10.56. The business has a fifty day simple moving average of $9.60 and a 200 day simple moving average of $9.06. The company has a quick ratio of 0.27, a current ratio of 0.11 and a debt-to-equity ratio of 0.21.

LXP Industrial Trust Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, July 15th. Stockholders of record on Friday, June 28th were given a dividend of $0.13 per share. The ex-dividend date of this dividend was Friday, June 28th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 5.31%. LXP Industrial Trust’s dividend payout ratio (DPR) is 1,300.00%.

Insider Buying and Selling

In other news, Director Arun Gupta bought 15,000 shares of the firm’s stock in a transaction on Wednesday, June 12th. The stock was acquired at an average price of $8.95 per share, with a total value of $134,250.00. Following the transaction, the director now owns 65,474 shares of the company’s stock, valued at approximately $585,992.30. The acquisition was disclosed in a document filed with the SEC, which is available through this link. 2.17% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

LXP has been the topic of a number of research analyst reports. StockNews.com lowered shares of LXP Industrial Trust from a “hold” rating to a “sell” rating in a research report on Friday, May 3rd. BNP Paribas began coverage on LXP Industrial Trust in a research report on Tuesday, June 4th. They set an “outperform” rating and a $11.00 price objective on the stock. Jefferies Financial Group upped their target price on LXP Industrial Trust from $11.00 to $12.00 and gave the stock a “buy” rating in a report on Friday, June 7th. Finally, Evercore ISI upgraded LXP Industrial Trust to a “hold” rating in a report on Thursday, August 1st. One research analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, LXP Industrial Trust currently has an average rating of “Hold” and a consensus target price of $11.33.

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.