Massachusetts Financial Services Co. MA Sells 110,989 Shares of LXP Industrial Trust (NYSE:LXP)

Massachusetts Financial Services Co. MA lessened its position in LXP Industrial Trust (NYSE:LXP - Free Report) by 2.7% in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 3,941,223 shares of the real estate investment trust's stock after selling 110,989 shares during the quarter. Massachusetts Financial Services Co. MA owned approximately 1.34% of LXP Industrial Trust worth $39,609,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Blue Trust Inc. grew its position in LXP Industrial Trust by 1,596.2% during the second quarter. Blue Trust Inc. now owns 3,138 shares of the real estate investment trust's stock valued at $28,000 after purchasing an additional 2,953 shares in the last quarter. GAMMA Investing LLC grew its holdings in LXP Industrial Trust by 81.1% in the 3rd quarter. GAMMA Investing LLC now owns 3,421 shares of the real estate investment trust's stock valued at $34,000 after buying an additional 1,532 shares during the last quarter. Sequoia Financial Advisors LLC acquired a new position in LXP Industrial Trust in the 2nd quarter valued at approximately $92,000. Paloma Partners Management Co bought a new stake in shares of LXP Industrial Trust in the 1st quarter worth approximately $96,000. Finally, Caxton Associates LP acquired a new stake in shares of LXP Industrial Trust during the 1st quarter worth approximately $102,000. Institutional investors and hedge funds own 93.52% of the company's stock.

Analyst Upgrades and Downgrades

Separately, Evercore ISI upped their target price on LXP Industrial Trust from $10.00 to $11.00 and gave the company an "in-line" rating in a research note on Monday, September 16th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $11.25.

LXP Industrial Trust Price Performance

Shares of LXP traded up $0.12 during mid-day trading on Monday, reaching $9.40. The company had a trading volume of 757,021 shares, compared to its average volume of 2,201,716. The company's 50-day moving average is $9.67 and its 200-day moving average is $9.54. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.12 and a quick ratio of 0.12. The company has a market capitalization of $2.77 billion, a P/E ratio of 156.83 and a beta of 0.88. LXP Industrial Trust has a twelve month low of $8.23 and a twelve month high of $10.56.

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 $0.135 dividend. This is a positive change from LXP Industrial Trust's previous quarterly dividend of $0.13. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $0.54 annualized dividend and a dividend yield of 5.74%. LXP Industrial Trust's dividend payout ratio is presently 900.00%.

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.