LXP Industrial Trust (NYSE:LXP) Sets New 1-Year Low – What’s Next?

Shares of LXP Industrial Trust (NYSE:LXP) hit a new 52-week low on Monday . The stock traded as low as $8.07 and last traded at $8.12, with a volume of 155530 shares trading hands. The stock had previously closed at $8.22.

Wall Street Analyst Weigh In

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

LXP Industrial Trust Stock Down 1.5 %

The company has a quick ratio of 0.12, a current ratio of 0.12 and a debt-to-equity ratio of 0.21. The firm has a market capitalization of $2.39 billion, a price-to-earnings ratio of 135.02 and a beta of 0.86. The stock has a 50 day moving average of $9.17 and a 200 day moving average of $9.58.

LXP Industrial Trust Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be given a $0.135 dividend. This is a positive change from LXP Industrial Trust’s previous quarterly dividend of $0.13. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $0.54 annualized dividend and a dividend yield of 6.67%. LXP Industrial Trust’s dividend payout ratio (DPR) is presently 900.00%.

Institutional Trading of LXP Industrial Trust

Institutional investors and hedge funds have recently modified their holdings of the business. Geode Capital Management LLC boosted its holdings in shares of LXP Industrial Trust by 1.3% in the 3rd quarter. Geode Capital Management LLC now owns 7,388,828 shares of the real estate investment trust’s stock valued at $74,271,000 after buying an additional 92,409 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in LXP Industrial Trust by 4.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 5,285,807 shares of the real estate investment trust’s stock worth $53,122,000 after acquiring an additional 209,718 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in LXP Industrial Trust by 7.2% in the second quarter. Dimensional Fund Advisors LP now owns 4,383,993 shares of the real estate investment trust’s stock valued at $39,982,000 after acquiring an additional 293,078 shares during the period. William Blair Investment Management LLC bought a new position in shares of LXP Industrial Trust during the second quarter valued at approximately $36,683,000. Finally, Bank of New York Mellon Corp grew its holdings in shares of LXP Industrial Trust by 2.1% during 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. 93.52% of the stock is owned by institutional investors and hedge funds.

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.