LXP Industrial Trust (NYSE:LXP) Sees Large Growth in Short Interest

LXP Industrial Trust (NYSE:LXP) saw a large increase in short interest in July. As of July 15th, there was short interest totalling 5,110,000 shares, an increase of 28.4% from the June 30th total of 3,980,000 shares. Based on an average daily trading volume, of 2,340,000 shares, the short-interest ratio is presently 2.2 days.

LXP Industrial Trust Price Performance

LXP opened at $10.33 on Tuesday. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.27 and a current ratio of 0.27. LXP Industrial Trust has a 52-week low of $7.75 and a 52-week high of $10.49. The stock has a market capitalization of $3.04 billion, a PE ratio of 258.31 and a beta of 0.86. The stock’s 50 day moving average price is $9.20 and its 200-day moving average price is $9.01.

LXP Industrial Trust Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, July 15th. Investors of record on Friday, June 28th were given a dividend of $0.13 per share. The ex-dividend date was Friday, June 28th. This represents a $0.52 annualized dividend and a dividend yield of 5.03%. LXP Industrial Trust’s dividend payout ratio is presently 1,300.33%.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the company. StockNews.com cut LXP Industrial Trust from a “hold” rating to a “sell” rating in a research note on Friday, May 3rd. BNP Paribas assumed coverage on LXP Industrial Trust in a research note on Tuesday, June 4th. They issued an “outperform” rating and a $11.00 price target on the stock. Finally, Jefferies Financial Group boosted their target price on LXP Industrial Trust from $11.00 to $12.00 and gave the company a “buy” rating in a research note on Friday, June 7th.

Insider Activity at LXP Industrial Trust

In related news, Director Arun Gupta purchased 15,000 shares of the firm’s stock in a transaction on Wednesday, June 12th. The shares were acquired at an average cost of $8.95 per share, with a total value of $134,250.00. Following the purchase, the director now directly owns 65,474 shares of the company’s stock, valued at $585,992.30. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. 2.17% of the stock is currently owned by insiders.

Institutional Investors Weigh In On LXP Industrial Trust

Hedge funds have recently made changes to their positions in the company. Blue Trust Inc. boosted its position in shares of 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 in the last quarter. CWM LLC boosted its position in shares of LXP Industrial Trust by 65.1% during the fourth quarter. CWM LLC now owns 3,298 shares of the real estate investment trust’s stock valued at $33,000 after purchasing an additional 1,300 shares in the last quarter. SageView Advisory Group LLC bought a new stake in shares of LXP Industrial Trust during the first quarter valued at approximately $61,000. Central Pacific Bank Trust Division bought a new stake in shares of LXP Industrial Trust during the first quarter valued at approximately $74,000. Finally, Quadrant Capital Group LLC boosted its position in shares of LXP Industrial Trust by 84.0% during the fourth quarter. Quadrant Capital Group LLC now owns 9,211 shares of the real estate investment trust’s stock valued at $91,000 after purchasing an additional 4,206 shares in the last quarter. 93.52% of the stock is currently owned by 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.