Short Interest in LXP Industrial Trust (NYSE:LXP) Drops By 14.6%

LXP Industrial Trust (NYSE:LXP) was the target of a significant drop in short interest in the month of September. As of September 15th, there was short interest totalling 4,090,000 shares, a drop of 14.6% from the August 31st total of 4,790,000 shares. Based on an average daily trading volume, of 2,260,000 shares, the short-interest ratio is currently 1.8 days.

Institutional Trading of LXP Industrial Trust

Large investors have recently bought and sold shares of the stock. Blue Trust Inc. lifted its holdings in shares of LXP Industrial Trust by 1,596.2% during the second quarter. Blue Trust Inc. now owns 3,138 shares of the real estate investment trust’s stock valued at $28,000 after acquiring an additional 2,953 shares during the period. CWM LLC lifted its holdings in LXP Industrial Trust by 52.4% during the 1st quarter. CWM LLC now owns 5,026 shares of the real estate investment trust’s stock valued at $45,000 after purchasing an additional 1,728 shares during the last quarter. SageView Advisory Group LLC acquired a new position in LXP Industrial Trust in the first quarter valued at about $61,000. Central Pacific Bank Trust Division acquired a new position in LXP Industrial Trust in the first quarter valued at about $74,000. Finally, Sequoia Financial Advisors LLC bought a new stake in LXP Industrial Trust during the second quarter worth about $92,000. 93.52% of the stock is currently owned by institutional investors.

LXP Industrial Trust Stock Up 0.1 %

Shares of LXP opened at $10.16 on Friday. The company has a quick ratio of 0.11, a current ratio of 0.11 and a debt-to-equity ratio of 0.21. The company has a 50-day moving average price of $10.08 and a two-hundred day moving average price of $9.33. The stock has a market cap of $2.99 billion, a price-to-earnings ratio of 254.00 and a beta of 0.87. LXP Industrial Trust has a 12 month low of $7.75 and a 12 month high of $10.56.

LXP Industrial Trust Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Monday, September 30th will be given a dividend of $0.13 per share. The ex-dividend date of this dividend is Monday, September 30th. This represents a $0.52 annualized dividend and a dividend yield of 5.12%. LXP Industrial Trust’s dividend payout ratio (DPR) is presently 1,300.00%.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on LXP. BNP Paribas started coverage on LXP Industrial Trust in a research note on Tuesday, June 4th. They set an “outperform” rating and a $11.00 price target on the stock. Jefferies Financial Group boosted their price objective on LXP Industrial Trust from $11.00 to $12.00 and gave the company a “buy” rating in a research report on Friday, June 7th. Finally, Evercore ISI raised their target price on 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. One investment analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price 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.