Quest Partners LLC Has $3.85 Million Stake in LXP Industrial Trust (NYSE:LXP)

Quest Partners LLC lifted its position in shares of LXP Industrial Trust (NYSE:LXP) by 3,160.1% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 382,769 shares of the real estate investment trust’s stock after purchasing an additional 371,028 shares during the period. LXP Industrial Trust accounts for approximately 0.3% of Quest Partners LLC’s investment portfolio, making the stock its 15th biggest holding. Quest Partners LLC’s holdings in LXP Industrial Trust were worth $3,847,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. GAMMA Investing LLC increased its position in LXP Industrial Trust by 81.1% during the 3rd quarter. GAMMA Investing LLC now owns 3,421 shares of the real estate investment trust’s stock worth $34,000 after buying an additional 1,532 shares during the period. Vert Asset Management LLC grew its stake in shares of LXP Industrial Trust by 1.6% in the third quarter. Vert Asset Management LLC now owns 120,140 shares of the real estate investment trust’s stock valued at $1,207,000 after acquiring an additional 1,874 shares in the last quarter. Arizona State Retirement System grew its stake in shares of LXP Industrial Trust by 2.4% in the second quarter. Arizona State Retirement System now owns 82,387 shares of the real estate investment trust’s stock valued at $751,000 after acquiring an additional 1,964 shares in the last quarter. Dakota Wealth Management increased its position in LXP Industrial Trust by 21.5% during the second quarter. Dakota Wealth Management now owns 12,315 shares of the real estate investment trust’s stock worth $112,000 after acquiring an additional 2,177 shares during the period. Finally, Inspire Investing LLC raised its stake in LXP Industrial Trust by 5.7% in the 3rd quarter. Inspire Investing LLC now owns 40,936 shares of the real estate investment trust’s stock worth $411,000 after purchasing an additional 2,209 shares in the last quarter. 93.52% of the stock is owned by institutional investors and hedge funds.

LXP Industrial Trust Price Performance

Shares of NYSE LXP opened at $9.18 on Monday. The business has a fifty day moving average price of $9.75 and a two-hundred day moving average price of $9.51. The stock has a market capitalization of $2.70 billion, a PE ratio of 153.03 and a beta of 0.88. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.12 and a quick ratio of 0.12. LXP Industrial Trust has a fifty-two week low of $8.13 and a fifty-two week high of $10.56.

LXP Industrial Trust Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be paid a dividend of $0.135 per share. This represents a $0.54 dividend on an annualized basis and a yield of 5.88%. This is an increase from LXP Industrial Trust’s previous quarterly dividend of $0.13. The ex-dividend date is Tuesday, December 31st. LXP Industrial Trust’s dividend payout ratio is presently 866.81%.

Analyst Upgrades and Downgrades

Separately, Evercore ISI boosted their price objective on shares of LXP Industrial Trust from $10.00 to $11.00 and gave the company an “in-line” rating in a report on Monday, September 16th. One analyst has rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, LXP Industrial Trust currently has an average rating of “Hold” and an average price target 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.