Prudential Financial Inc. Sells 3,985,137 Shares of LXP Industrial Trust (NYSE:LXP)

Prudential Financial Inc. cut its stake in LXP Industrial Trust (NYSE:LXP - Free Report) by 76.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,251,989 shares of the real estate investment trust's stock after selling 3,985,137 shares during the period. Prudential Financial Inc. owned approximately 0.43% of LXP Industrial Trust worth $10,166,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in LXP Industrial Trust by 340.6% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,213,117 shares of the real estate investment trust's stock worth $22,242,000 after purchasing an additional 1,710,867 shares during the period. Xponance Inc. lifted its holdings in shares of LXP Industrial Trust by 17.8% in the fourth quarter. Xponance Inc. now owns 22,494 shares of the real estate investment trust's stock valued at $183,000 after buying an additional 3,404 shares during the period. Jane Street Group LLC boosted its stake in LXP Industrial Trust by 101.3% during the third quarter. Jane Street Group LLC now owns 546,430 shares of the real estate investment trust's stock valued at $5,492,000 after buying an additional 274,933 shares in the last quarter. Aew Capital Management L P grew its holdings in LXP Industrial Trust by 72.5% during the fourth 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 acquiring an additional 2,445,084 shares during the period. Finally, State of New Jersey Common Pension Fund D grew its holdings in LXP Industrial Trust by 18.9% during the fourth 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 acquiring an additional 36,336 shares during the period. Institutional investors and hedge funds own 93.52% of the company's stock.

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Wall Street Analyst Weigh In

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

LXP Industrial Trust Stock Down 0.6 %

NYSE:LXP traded down $0.06 during trading hours on Wednesday, hitting $8.62. 405,441 shares of the stock traded hands, compared to its average volume of 2,195,154. LXP Industrial Trust has a fifty-two week low of $7.65 and a fifty-two week high of $10.56. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 0.21. The firm has a market cap of $2.55 billion, a price-to-earnings ratio of 66.27 and a beta of 0.89. The firm has a 50 day moving average price of $8.70 and a 200 day moving average price of $9.01.

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

LXP Industrial Trust Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be paid a $0.135 dividend. This represents a $0.54 annualized dividend and a dividend yield of 6.27%. The ex-dividend date of this dividend is Monday, March 31st. LXP Industrial Trust's payout ratio is presently 415.38%.

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.