LXP Industrial Trust (NYSE:LXP) Stock Rating Upgraded by Evercore ISI

Evercore ISI upgraded shares of LXP Industrial Trust (NYSE:LXP) to a hold rating in a report published on Thursday morning, Zacks.com reports.

Other analysts have also issued reports about the stock. StockNews.com lowered shares of LXP Industrial Trust from a hold rating to a sell rating in a research note on Friday, May 3rd. BNP Paribas assumed coverage on shares of LXP Industrial Trust in a report on Tuesday, June 4th. They set an outperform rating and a $11.00 price objective on the stock. Finally, Jefferies Financial Group boosted their price objective on shares of LXP Industrial Trust from $11.00 to $12.00 and gave the stock a buy rating in a research note on Friday, June 7th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of Hold and a consensus target price of $11.33.

LXP Industrial Trust Price Performance

Shares of LXP stock opened at $9.97 on Thursday. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.11 and a quick ratio of 0.27. The company has a market capitalization of $2.93 billion, a P/E ratio of 249.31 and a beta of 0.86. The company’s 50-day simple moving average is $9.32 and its two-hundred day simple moving average is $9.03. LXP Industrial Trust has a one year low of $7.75 and a one year high of $10.56.

LXP Industrial Trust Dividend Announcement

The firm also recently declared 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. This represents a $0.52 dividend on an annualized basis and a dividend yield of 5.22%. The ex-dividend date of this dividend was Friday, June 28th. LXP Industrial Trust’s payout ratio is presently 1,300.33%.

Insider Transactions at LXP Industrial Trust

In other LXP Industrial Trust news, Director Arun Gupta purchased 15,000 shares of the firm’s stock in a transaction on Wednesday, June 12th. The stock was bought at an average cost of $8.95 per share, for a total transaction of $134,250.00. Following the completion of the purchase, the director now owns 65,474 shares in the company, valued at approximately $585,992.30. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 2.17% of the company’s stock.

Institutional Investors Weigh In On LXP Industrial Trust

Several institutional investors and hedge funds have recently made changes to their positions in LXP. Magnus Financial Group LLC lifted its stake in LXP Industrial Trust by 3.4% during the 2nd quarter. Magnus Financial Group LLC now owns 99,008 shares of the real estate investment trust’s stock valued at $903,000 after acquiring an additional 3,300 shares during the period. Natixis Advisors LLC grew its position in LXP Industrial Trust by 52.0% during the 2nd quarter. Natixis Advisors LLC now owns 87,979 shares of the real estate investment trust’s stock worth $802,000 after purchasing an additional 30,087 shares during the period. Nicola Wealth Management LTD. raised its stake in shares of LXP Industrial Trust by 45.4% during the 2nd quarter. Nicola Wealth Management LTD. now owns 103,731 shares of the real estate investment trust’s stock valued at $946,000 after buying an additional 32,400 shares during the last quarter. Van ECK Associates Corp raised its stake in shares of LXP Industrial Trust by 7.0% during the 2nd quarter. Van ECK Associates Corp now owns 44,469 shares of the real estate investment trust’s stock valued at $406,000 after buying an additional 2,904 shares during the last quarter. Finally, Sage Rhino Capital LLC acquired a new position in shares of LXP Industrial Trust in the 2nd quarter valued at about $102,000. 93.52% of the stock is currently 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.