Weiss Asset Management LP Makes New Investment in LXP Industrial Trust (NYSE:LXP)

Weiss Asset Management LP bought a new stake in shares of LXP Industrial Trust (NYSE:LXP - Free Report) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund bought 75,640 shares of the real estate investment trust's stock, valued at approximately $760,000.

A number of other institutional investors also recently modified their holdings of LXP. Blue Trust Inc. lifted its holdings in 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 valued at $28,000 after purchasing an additional 2,953 shares during the last quarter. GAMMA Investing LLC grew 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 purchasing an additional 1,532 shares during the last quarter. Sequoia Financial Advisors LLC purchased a new stake in LXP Industrial Trust in the second quarter worth $92,000. KBC Group NV lifted its stake in 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 worth $102,000 after acquiring an additional 2,504 shares during the period. Finally, Sage Rhino Capital LLC purchased a new position in LXP Industrial Trust during the second quarter valued at $102,000. Institutional investors and hedge funds own 93.52% of the company's stock.

LXP Industrial Trust Trading Up 1.9 %

LXP Industrial Trust stock traded up $0.17 during mid-day trading on Monday, hitting $9.31. The company's stock had a trading volume of 1,969,893 shares, compared to its average volume of 2,183,605. The company has a 50 day moving average of $9.50 and a 200-day moving average of $9.57. The stock has a market cap of $2.74 billion, a PE ratio of 152.36 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. LXP Industrial Trust has a one year low of $8.23 and a one year high of $10.56.

LXP Industrial Trust Increases Dividend

The business also recently disclosed 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. The ex-dividend date is Tuesday, December 31st. This represents a $0.54 dividend on an annualized basis and a yield of 5.80%. This is an increase from LXP Industrial Trust's previous quarterly dividend of $0.13. LXP Industrial Trust's dividend payout ratio (DPR) is presently 866.81%.

Wall Street Analysts Forecast Growth

Separately, Evercore ISI raised their price target on LXP Industrial Trust from $10.00 to $11.00 and gave the company 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's stock. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $11.25.

LXP Industrial Trust Company 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.