Sumitomo Mitsui Trust Group Inc. Has $28.06 Million Stock Holdings in LXP Industrial Trust (NYSE:LXP)

Sumitomo Mitsui Trust Group Inc. raised its holdings in LXP Industrial Trust (NYSE:LXP) by 16.5% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 2,792,408 shares of the real estate investment trust’s stock after buying an additional 395,798 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in LXP Industrial Trust were worth $28,064,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in LXP. Blue Trust Inc. grew its stake in shares of LXP Industrial Trust by 1,596.2% in the second quarter. Blue Trust Inc. now owns 3,138 shares of the real estate investment trust’s stock worth $28,000 after acquiring an additional 2,953 shares during the last quarter. GAMMA Investing LLC increased its holdings in shares of LXP Industrial Trust by 81.1% during the 3rd 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 period. SageView Advisory Group LLC acquired a new position in shares of LXP Industrial Trust during the first quarter valued at about $61,000. Sequoia Financial Advisors LLC bought a new stake in shares of LXP Industrial Trust in the second quarter valued at about $92,000. Finally, Paloma Partners Management Co acquired a new stake in LXP Industrial Trust during the first quarter worth about $96,000. 93.52% of the stock is owned by institutional investors.

LXP Industrial Trust Price Performance

NYSE:LXP opened at $9.18 on Friday. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.12 and a current ratio of 0.12. The company has a 50-day moving average of $9.75 and a 200-day moving average of $9.50. LXP Industrial Trust has a 52 week low of $8.13 and a 52 week high of $10.56. The company has a market capitalization of $2.70 billion, a price-to-earnings ratio of 153.00 and a beta of 0.88.

LXP Industrial Trust Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be issued a dividend of $0.135 per share. This represents a $0.54 dividend on an annualized basis and a yield of 5.88%. This is an increase from LXP Industrial Trust’s previous quarterly dividend of $0.13. The ex-dividend date is Tuesday, December 31st. LXP Industrial Trust’s payout ratio is presently 900.00%.

Analysts Set New Price Targets

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 report on Monday, September 16th. One analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, LXP Industrial Trust currently has a consensus rating of “Hold” and an average price target of $11.25.

LXP Industrial Trust 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.