LXP Industrial Trust (NYSE:LXP) Short Interest Update

LXP Industrial Trust (NYSE:LXP) was the recipient of a significant decline in short interest in the month of September. As of September 30th, there was short interest totalling 3,230,000 shares, a decline of 21.0% from the September 15th total of 4,090,000 shares. Based on an average daily volume of 2,070,000 shares, the days-to-cover ratio is presently 1.6 days.

Analysts Set New Price Targets

Separately, Evercore ISI boosted their target price on shares of 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 stock. According to MarketBeat, LXP Industrial Trust presently has an average rating of “Hold” and a consensus target price of $11.25.

LXP Industrial Trust Trading Up 0.5 %

LXP traded up $0.05 during trading on Tuesday, hitting $9.64. 1,435,857 shares of the company’s stock were exchanged, compared to its average volume of 2,235,519. The company has a current ratio of 0.11, a quick ratio of 0.11 and a debt-to-equity ratio of 0.21. LXP Industrial Trust has a 1 year low of $7.75 and a 1 year high of $10.56. The stock has a 50 day moving average price of $9.97 and a 200 day moving average price of $9.39. The firm has a market cap of $2.84 billion, a P/E ratio of 241.00 and a beta of 0.87.

LXP Industrial Trust Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th will be paid a dividend of $0.13 per share. The ex-dividend date of this dividend is Monday, September 30th. This represents a $0.52 annualized dividend and a yield of 5.39%. LXP Industrial Trust’s dividend payout ratio is currently 1,300.00%.

Institutional Investors Weigh In On LXP Industrial Trust

Several institutional investors have recently bought and sold shares of the business. Long Pond Capital LP lifted its position in shares of LXP Industrial Trust by 139.3% during the first quarter. Long Pond Capital LP now owns 7,447,513 shares of the real estate investment trust’s stock worth $67,177,000 after purchasing an additional 4,335,751 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of LXP Industrial Trust by 7.2% during the second quarter. Dimensional Fund Advisors LP now owns 4,383,993 shares of the real estate investment trust’s stock worth $39,982,000 after purchasing an additional 293,078 shares in the last quarter. William Blair Investment Management LLC acquired a new position in shares of LXP Industrial Trust during the second quarter worth $36,683,000. Bank of New York Mellon Corp lifted its position in shares of LXP Industrial Trust by 2.1% during the second quarter. Bank of New York Mellon Corp now owns 3,102,610 shares of the real estate investment trust’s stock worth $28,296,000 after purchasing an additional 65,202 shares in the last quarter. Finally, Victory Capital Management Inc. lifted its position in shares of LXP Industrial Trust by 5.8% during the second quarter. Victory Capital Management Inc. now owns 2,941,937 shares of the real estate investment trust’s stock worth $26,830,000 after purchasing an additional 160,651 shares in the last quarter. 93.52% of the stock is currently owned by hedge funds and other institutional investors.

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.