LXP Industrial Trust (NYSE:LXP) Sets New 52-Week Low - Here's Why

LXP Industrial Trust (NYSE:LXP - Get Free Report) shares reached a new 52-week low during trading on Friday . The company 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.

Analyst Upgrades and Downgrades

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

LXP Industrial Trust Stock Down 3.7 %

The company has a market capitalization of $2.27 billion, a P/E ratio of 128.69 and a beta of 0.89. The company has a current ratio of 0.12, a quick ratio of 0.12 and a debt-to-equity ratio of 0.21. The stock's fifty day moving average is $8.88 and its 200 day moving average is $9.51.

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 issued a dividend of $0.135 per share. This is a positive change 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 6.99%. The ex-dividend date is Tuesday, December 31st. LXP Industrial Trust's dividend payout ratio is currently 900.00%.

Hedge Funds Weigh In On LXP Industrial Trust

Hedge funds have recently made changes to their positions in the business. First Hawaiian Bank purchased a new position in shares of LXP Industrial Trust during the fourth quarter valued at about $100,000. Geode Capital Management LLC grew its holdings in shares of LXP Industrial Trust by 1.3% during the 3rd quarter. Geode Capital Management LLC now owns 7,388,828 shares of the real estate investment trust's stock worth $74,271,000 after acquiring an additional 92,409 shares during the period. Barclays PLC raised its position in shares of LXP Industrial Trust by 42.1% in the 3rd quarter. Barclays PLC now owns 502,548 shares of the real estate investment trust's stock worth $5,052,000 after acquiring an additional 148,852 shares in the last quarter. Public Employees Retirement System of Ohio raised its position in shares of LXP Industrial Trust by 0.8% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 423,947 shares of the real estate investment trust's stock worth $4,261,000 after acquiring an additional 3,312 shares in the last quarter. Finally, Nomura Asset Management Co. Ltd. lifted its stake in shares of LXP Industrial Trust by 0.3% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 366,100 shares of the real estate investment trust's stock valued at $3,679,000 after purchasing an additional 1,100 shares during the period. 93.52% of the stock is owned by hedge funds and other institutional investors.

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.