Sumitomo Mitsui Trust Group Inc. Buys 395,798 Shares of LXP Industrial Trust (NYSE:LXP)

Sumitomo Mitsui Trust Group Inc. grew its position in LXP Industrial Trust (NYSE:LXP - Free Report) by 16.5% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 2,792,408 shares of the real estate investment trust's stock after buying an additional 395,798 shares during the period. Sumitomo Mitsui Trust Group Inc. owned approximately 0.95% of LXP Industrial Trust worth $28,064,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in LXP. QRG Capital Management Inc. raised its holdings in LXP Industrial Trust by 9.6% in the 1st quarter. QRG Capital Management Inc. now owns 38,350 shares of the real estate investment trust's stock worth $346,000 after acquiring an additional 3,347 shares during the last quarter. ProShare Advisors LLC boosted its position in shares of LXP Industrial Trust by 7.4% during the first quarter. ProShare Advisors LLC now owns 58,498 shares of the real estate investment trust's stock valued at $528,000 after buying an additional 4,015 shares during the last quarter. State Board of Administration of Florida Retirement System increased its holdings in LXP Industrial Trust by 11.9% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 123,140 shares of the real estate investment trust's stock worth $1,111,000 after buying an additional 13,080 shares in the last quarter. SageView Advisory Group LLC bought a new stake in LXP Industrial Trust in the 1st quarter worth about $61,000. Finally, Clearbridge Investments LLC raised its position in LXP Industrial Trust by 2.1% in the 1st quarter. Clearbridge Investments LLC now owns 1,360,868 shares of the real estate investment trust's stock worth $12,275,000 after buying an additional 27,812 shares during the last quarter. Institutional investors own 93.52% of the company's stock.

LXP Industrial Trust Stock Performance

Shares of LXP traded down $0.08 during trading hours on Friday, hitting $9.18. The stock had a trading volume of 1,356,849 shares, compared to its average volume of 2,002,530. LXP Industrial Trust has a 12 month low of $8.13 and a 12 month high of $10.56. The stock has a fifty day moving average price of $9.75 and a 200 day moving average price of $9.51. 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 firm has a market capitalization of $2.70 billion, a PE ratio of 153.03 and a beta of 0.88.

LXP Industrial Trust Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be given a dividend of $0.135 per share. This represents a $0.54 annualized dividend and a yield of 5.88%. 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. LXP Industrial Trust's payout ratio is 866.81%.

Analyst Ratings Changes

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

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.