State Street Corp Cuts Stock Position in LXP Industrial Trust (NYSE:LXP)

State Street Corp decreased its stake in shares of LXP Industrial Trust (NYSE:LXP - Free Report) by 0.5% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,075,788 shares of the real estate investment trust's stock after selling 88,794 shares during the quarter. State Street Corp owned approximately 5.80% of LXP Industrial Trust worth $173,824,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of LXP. Blue Trust Inc. increased its position in shares of 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 worth $28,000 after purchasing an additional 2,953 shares in the last quarter. GAMMA Investing LLC raised its holdings in shares of LXP Industrial Trust by 81.1% in the third 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 last quarter. Sequoia Financial Advisors LLC purchased a new stake in shares of LXP Industrial Trust during the second quarter valued at $92,000. Sage Rhino Capital LLC acquired a new position in shares of LXP Industrial Trust in the 2nd quarter valued at $102,000. Finally, KBC Group NV increased its holdings in shares of LXP Industrial Trust by 32.7% in the third quarter. KBC Group NV now owns 10,170 shares of the real estate investment trust's stock valued at $102,000 after purchasing an additional 2,504 shares during the period. 93.52% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, Evercore ISI raised their target price on shares of LXP Industrial Trust from $10.00 to $11.00 and gave the stock an "in-line" rating in a report on Monday, September 16th. One research 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. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $11.25.

LXP Industrial Trust Stock Performance

NYSE LXP traded down $0.02 during mid-day trading on Friday, reaching $9.04. 423,954 shares of the stock were exchanged, compared to its average volume of 2,170,397. The company has a market capitalization of $2.66 billion, a P/E ratio of 151.03 and a beta of 0.86. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.12 and a current ratio of 0.12. The business's 50 day moving average is $9.44 and its 200-day moving average is $9.58. LXP Industrial Trust has a 1 year low of $8.23 and a 1 year high of $10.56.

LXP Industrial Trust Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be given a dividend of $0.135 per share. The ex-dividend date is Tuesday, December 31st. This is a boost 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 5.97%. LXP Industrial Trust's dividend payout ratio (DPR) is 866.81%.

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.