Norges Bank Invests $40.11 Million in LXP Industrial Trust (NYSE:LXP)

Norges Bank acquired a new position in shares of LXP Industrial Trust (NYSE:LXP - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 4,940,177 shares of the real estate investment trust's stock, valued at approximately $40,114,000. Norges Bank owned approximately 1.68% of LXP Industrial Trust as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Xponance Inc. boosted its stake in shares of LXP Industrial Trust by 17.8% in the 4th quarter. Xponance Inc. now owns 22,494 shares of the real estate investment trust's stock worth $183,000 after buying an additional 3,404 shares during the last quarter. Jane Street Group LLC boosted its stake in shares of LXP Industrial Trust by 101.3% in the 3rd quarter. Jane Street Group LLC now owns 546,430 shares of the real estate investment trust's stock worth $5,492,000 after buying an additional 274,933 shares during the last quarter. Aew Capital Management L P boosted its stake in shares of LXP Industrial Trust by 72.5% in the 4th quarter. Aew Capital Management L P now owns 5,815,781 shares of the real estate investment trust's stock worth $47,224,000 after buying an additional 2,445,084 shares during the last quarter. State of New Jersey Common Pension Fund D boosted its stake in shares of LXP Industrial Trust by 18.9% in the 4th quarter. State of New Jersey Common Pension Fund D now owns 228,916 shares of the real estate investment trust's stock worth $1,859,000 after buying an additional 36,336 shares during the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. lifted its stake in LXP Industrial Trust by 11.1% in the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,103,414 shares of the real estate investment trust's stock valued at $25,200,000 after purchasing an additional 311,006 shares during the last quarter. 93.52% of the stock is owned by institutional investors.

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Analysts Set New Price Targets

Separately, JMP Securities reiterated a "market perform" rating on shares of LXP Industrial Trust in a research note on Friday, February 14th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $11.33.

LXP Industrial Trust Stock Performance

LXP Industrial Trust stock traded down $0.17 during trading on Thursday, hitting $7.52. The stock had a trading volume of 366,682 shares, compared to its average volume of 2,198,641. LXP Industrial Trust has a 1 year low of $5.26 and a 1 year high of $10.57. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.21. The stock's 50 day moving average is $8.60 and its two-hundred day moving average is $8.89. The stock has a market cap of $2.22 billion, a price-to-earnings ratio of 57.85 and a beta of 0.95.

LXP Industrial Trust (NYSE:LXP - Get Free Report) last posted its earnings results on Thursday, February 13th. The real estate investment trust reported $0.16 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.02) by $0.18. The firm had revenue of $100.85 million for the quarter, compared to the consensus estimate of $84.57 million. LXP Industrial Trust had a return on equity of 2.15% and a net margin of 12.40%. As a group, analysts predict that LXP Industrial Trust will post 0.63 EPS for the current year.

LXP Industrial Trust Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be given a dividend of $0.135 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $0.54 annualized dividend and a dividend yield of 7.18%. LXP Industrial Trust's dividend payout ratio is currently 415.38%.

LXP Industrial Trust Profile

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.