LXP Industrial Trust (NYSE:LXP) Price Target Raised to $11.00

LXP Industrial Trust (NYSE:LXP) had its target price boosted by Evercore ISI from $10.00 to $11.00 in a research note issued to investors on Monday, Benzinga reports. Evercore ISI currently has an in-line rating on the real estate investment trust’s stock.

A number of other research firms also recently weighed in on LXP. BNP Paribas assumed coverage on shares of LXP Industrial Trust in a report on Tuesday, June 4th. They issued an outperform rating and a $11.00 target price on the stock. Jefferies Financial Group lifted their price objective on shares of LXP Industrial Trust from $11.00 to $12.00 and gave the company a buy rating in a report on Friday, June 7th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of Hold and a consensus target price of $11.25.

LXP Industrial Trust Trading Up 1.4 %

Shares of LXP stock opened at $10.30 on Monday. The company has a current ratio of 0.11, a quick ratio of 0.11 and a debt-to-equity ratio of 0.21. The stock has a market capitalization of $3.03 billion, a price-to-earnings ratio of 257.38 and a beta of 0.87. LXP Industrial Trust has a 12-month low of $7.75 and a 12-month high of $10.56. The stock’s 50-day moving average price is $10.06 and its 200-day moving average price is $9.28.

LXP Industrial Trust Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th will be issued a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a dividend yield of 5.05%. The ex-dividend date of this dividend is Monday, September 30th. LXP Industrial Trust’s dividend payout ratio is currently 1,300.00%.

Institutional Trading of LXP Industrial Trust

Institutional investors have recently made changes to their positions in the business. 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 worth $67,177,000 after purchasing an additional 4,335,751 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in LXP Industrial Trust by 7.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 4,383,993 shares of the real estate investment trust’s stock valued at $39,982,000 after acquiring an additional 293,078 shares in the last quarter. William Blair Investment Management LLC purchased a new position in LXP Industrial Trust during the second quarter worth approximately $36,683,000. Norges Bank acquired a new position in shares of LXP Industrial Trust during the 4th quarter valued at about $31,529,000. Finally, Bank of New York Mellon Corp boosted its holdings in LXP Industrial Trust by 2.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 3,102,610 shares of the real estate investment trust’s stock valued at $28,296,000 after purchasing an additional 65,202 shares during the last quarter. Institutional investors and hedge funds own 93.52% of the company’s stock.

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.