LXP Industrial Trust (NYSE:LXP) Hits New 12-Month Low – Should You Sell?

LXP Industrial Trust (NYSE:LXP) reached a new 52-week low during trading on Friday . The stock traded as low as $7.84 and last traded at $7.86, with a volume of 134386 shares trading hands. The stock had previously closed at $8.02.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on LXP shares. Evercore ISI increased their target price on shares of LXP Industrial Trust from $10.00 to $11.00 and gave the stock an “in-line” rating in a report on Monday, September 16th. JMP Securities reiterated a “market perform” rating on shares of LXP Industrial Trust in a report on Friday, December 20th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, LXP Industrial Trust presently has an average rating of “Hold” and a consensus price target of $11.33.

LXP Industrial Trust Stock Down 1.9 %

The firm’s fifty day moving average is $8.91 and its 200-day moving average is $9.52. The stock has a market capitalization of $2.32 billion, a PE ratio of 131.19 and a beta of 0.89. The company has a quick ratio of 0.12, a current ratio of 0.12 and a debt-to-equity ratio of 0.21.

LXP Industrial Trust Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be paid a dividend of $0.135 per share. The ex-dividend date of this dividend is Tuesday, December 31st. This is a boost from LXP Industrial Trust’s previous quarterly dividend of $0.13. This represents a $0.54 dividend on an annualized basis and a dividend yield of 6.86%. LXP Industrial Trust’s dividend payout ratio is 900.00%.

Institutional Investors Weigh In On LXP Industrial Trust

A number of institutional investors and hedge funds have recently modified their holdings of the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in LXP Industrial Trust by 340.6% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,213,117 shares of the real estate investment trust’s stock valued at $22,242,000 after acquiring an additional 1,710,867 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. boosted its position in LXP Industrial Trust by 16.5% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,792,408 shares of the real estate investment trust’s stock worth $28,064,000 after purchasing an additional 395,798 shares during the period. Natixis Advisors LLC raised its position in LXP Industrial Trust by 171.9% in the third quarter. Natixis Advisors LLC now owns 239,232 shares of the real estate investment trust’s stock valued at $2,404,000 after purchasing an additional 151,253 shares during the period. Jane Street Group LLC grew its stake in shares of LXP Industrial Trust by 101.3% in the third quarter. Jane Street Group LLC now owns 546,430 shares of the real estate investment trust’s stock valued at $5,492,000 after buying an additional 274,933 shares in the last quarter. Finally, Victory Capital Management Inc. grew its position in LXP Industrial Trust by 5.8% in the second quarter. Victory Capital Management Inc. now owns 2,941,937 shares of the real estate investment trust’s stock valued at $26,830,000 after acquiring an additional 160,651 shares in the last quarter. Institutional investors and hedge funds own 93.52% of the company’s stock.

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.