Pensionfund Sabic Cuts Position in LXP Industrial Trust (NYSE:LXP)

Pensionfund Sabic lowered its holdings in shares of LXP Industrial Trust (NYSE:LXP) by 10.4% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 86,000 shares of the real estate investment trust’s stock after selling 10,000 shares during the quarter. Pensionfund Sabic’s holdings in LXP Industrial Trust were worth $864,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of LXP. Long Pond Capital LP raised its holdings 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 valued at $67,177,000 after acquiring an additional 4,335,751 shares during the last quarter. William Blair Investment Management LLC purchased a new position in LXP Industrial Trust during the second quarter worth about $36,683,000. Sumitomo Mitsui Trust Holdings Inc. boosted its holdings 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 purchasing an additional 2,065,667 shares during the last quarter. Hazelview Securities Inc. purchased a new stake in shares of LXP Industrial Trust in the 1st quarter valued at approximately $12,042,000. Finally, Millennium Management LLC increased its holdings in shares of 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 worth $16,981,000 after buying an additional 1,182,258 shares during the last quarter. 93.52% of the stock is owned by institutional investors and hedge funds.

LXP Industrial Trust Trading Down 0.5 %

NYSE LXP opened at $9.49 on Friday. The firm has a 50 day simple moving average of $9.98 and a 200-day simple moving average of $9.37. The firm has a market cap of $2.79 billion, a price-to-earnings ratio of 118.64 and a beta of 0.87. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.11 and a current ratio of 0.11. LXP Industrial Trust has a one year low of $7.75 and a one year high of $10.56.

LXP Industrial Trust Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th will be issued 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 5.48%. LXP Industrial Trust’s dividend payout ratio (DPR) is 650.08%.

Wall Street Analysts Forecast Growth

Separately, Evercore ISI upped their price target on LXP Industrial Trust from $10.00 to $11.00 and gave the company 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’s stock. Based on data from MarketBeat.com, the stock currently has a consensus 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.