Verition Fund Management LLC Has $7.70 Million Stock Holdings in LXP Industrial Trust (NYSE:LXP)

Verition Fund Management LLC lowered its stake in shares of LXP Industrial Trust (NYSE:LXP - Free Report) by 31.3% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 765,755 shares of the real estate investment trust's stock after selling 348,870 shares during the period. Verition Fund Management LLC owned about 0.26% of LXP Industrial Trust worth $7,696,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. William Blair Investment Management LLC acquired a new position in LXP Industrial Trust in the 2nd quarter worth about $36,683,000. Sumitomo Mitsui Trust Holdings Inc. grew its stake in LXP Industrial Trust by 624.2% in the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,396,610 shares of the real estate investment trust's stock valued at $21,857,000 after buying an additional 2,065,667 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of 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 valued at $22,242,000 after purchasing an additional 1,710,867 shares during the last quarter. Millennium Management LLC boosted its stake in LXP Industrial Trust by 173.9% during the 2nd quarter. Millennium Management LLC now owns 1,861,986 shares of the real estate investment trust's stock valued at $16,981,000 after purchasing an additional 1,182,258 shares during the period. Finally, Marshall Wace LLP boosted its stake in LXP Industrial Trust by 106.5% during the 2nd quarter. Marshall Wace LLP now owns 1,047,245 shares of the real estate investment trust's stock valued at $9,551,000 after purchasing an additional 540,045 shares during the period. 93.52% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, Evercore ISI upped their price target on 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 given a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, LXP Industrial Trust presently has an average rating of "Hold" and an average price target of $11.25.

LXP Industrial Trust Stock Performance

Shares of NYSE LXP traded up $0.08 during mid-day trading on Monday, hitting $9.43. The company had a trading volume of 2,185,256 shares, compared to its average volume of 2,196,680. LXP Industrial Trust has a 12 month low of $8.23 and a 12 month high of $10.56. The firm has a market cap of $2.78 billion, a P/E ratio of 157.19 and a beta of 0.88. The business's 50-day simple moving average is $9.57 and its 200-day simple moving average is $9.56. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.12 and a quick ratio of 0.12.

LXP Industrial Trust Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be issued a dividend of $0.135 per share. This represents a $0.54 annualized dividend and a dividend yield of 5.73%. The ex-dividend date is Tuesday, December 31st. This is a positive change from LXP Industrial Trust's previous quarterly dividend of $0.13. LXP Industrial Trust's dividend payout ratio (DPR) is presently 866.81%.

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.