The Manufacturers Life Insurance Company Sells 12,434 Shares of LXP Industrial Trust $LXP

The Manufacturers Life Insurance Company lowered its holdings in LXP Industrial Trust (NYSE:LXP) by 32.0% during the 1st quarter, HoldingsChannel.com reports. The firm owned 26,443 shares of the real estate investment trust’s stock after selling 12,434 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in LXP Industrial Trust were worth $1,223,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of LXP. EQ Wealth Advisors LLC bought a new position in LXP Industrial Trust in the 4th quarter worth approximately $34,000. IFP Advisors Inc raised its holdings in LXP Industrial Trust by 63.8% during the 4th quarter. IFP Advisors Inc now owns 837 shares of the real estate investment trust’s stock valued at $41,000 after acquiring an additional 326 shares during the period. Summit Securities Group LLC bought a new stake in LXP Industrial Trust during the 1st quarter valued at $83,000. Caitong International Asset Management Co. Ltd purchased a new stake in shares of LXP Industrial Trust during the third quarter worth $26,000. Finally, EverSource Wealth Advisors LLC lifted its position in shares of LXP Industrial Trust by 101.7% during the second quarter. EverSource Wealth Advisors LLC now owns 3,481 shares of the real estate investment trust’s stock worth $29,000 after acquiring an additional 1,755 shares in the last quarter. 93.52% of the stock is currently owned by hedge funds and other institutional investors.

LXP Industrial Trust Trading Down 0.1%

Shares of LXP stock opened at $60.67 on Wednesday. The company has a market capitalization of $3.58 billion, a PE ratio of 60.67 and a beta of 1.02. LXP Industrial Trust has a 52-week low of $39.95 and a 52-week high of $61.61. The business’s fifty day moving average is $56.42 and its 200 day moving average is $51.93. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.10 and a current ratio of 0.10.

LXP Industrial Trust Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th were issued a $0.70 dividend. The ex-dividend date of this dividend was Tuesday, June 30th. This represents a $2.80 annualized dividend and a dividend yield of 4.6%. LXP Industrial Trust’s dividend payout ratio (DPR) is presently 280.00%.

Analyst Ratings Changes

A number of equities analysts have recently commented on LXP shares. Jefferies Financial Group lowered LXP Industrial Trust from a “buy” rating to a “hold” rating and cut their price target for the stock from $62.00 to $61.00 in a report on Thursday, August 6th. Evercore set a $54.00 price objective on LXP Industrial Trust in a report on Monday, June 8th. KeyCorp reissued a “sector weight” rating on shares of LXP Industrial Trust in a report on Tuesday, June 9th. Wall Street Zen downgraded LXP Industrial Trust from a “hold” rating to a “sell” rating in a research note on Sunday, July 12th. Finally, Citizens Jmp cut LXP Industrial Trust from a “market outperform” rating to a “hold” rating in a research report on Tuesday, July 21st. Three analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. Based on data from MarketBeat, LXP Industrial Trust has an average rating of “Hold” and an average target price of $56.17.

LXP Industrial Trust Company Profile

LXP Industrial Trust is a real estate investment trust that specializes in the ownership, acquisition and management of industrial properties across North America. The company’s portfolio consists of warehouses, distribution centers and manufacturing facilities designed to support supply-chain and logistics operations. By focusing on long-term leasing arrangements, LXP Industrial Trust aims to provide stable income streams while delivering value to tenants through modern, well-positioned industrial space.

The firm’s primary business activities include sourcing and under-writing new property investments, overseeing development and redevelopment projects, and implementing asset-management strategies to enhance the performance of its holdings.