Massachusetts Financial Services Co. MA Has $39.61 Million Position in LXP Industrial Trust (NYSE:LXP)

Massachusetts Financial Services Co. MA cut its holdings in LXP Industrial Trust (NYSE:LXP) by 2.7% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 3,941,223 shares of the real estate investment trust’s stock after selling 110,989 shares during the quarter. Massachusetts Financial Services Co. MA’s holdings in LXP Industrial Trust were worth $39,609,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in LXP. Intech Investment Management LLC increased its position in LXP Industrial Trust by 97.1% in the 3rd quarter. Intech Investment Management LLC now owns 125,196 shares of the real estate investment trust’s stock valued at $1,258,000 after acquiring an additional 61,682 shares in the last quarter. Quest Partners LLC grew its stake in shares of LXP Industrial Trust by 3,160.1% during the third quarter. Quest Partners LLC now owns 382,769 shares of the real estate investment trust’s stock valued at $3,847,000 after purchasing an additional 371,028 shares during the last quarter. Natixis Advisors LLC increased its holdings in shares of LXP Industrial Trust by 171.9% in the third quarter. Natixis Advisors LLC now owns 239,232 shares of the real estate investment trust’s stock valued at $2,404,000 after purchasing an additional 151,253 shares in the last quarter. Metis Global Partners LLC raised its position in LXP Industrial Trust by 31.9% in the 3rd quarter. Metis Global Partners LLC now owns 30,311 shares of the real estate investment trust’s stock worth $305,000 after purchasing an additional 7,326 shares during the last quarter. Finally, KBC Group NV lifted its holdings in LXP Industrial Trust by 32.7% during the 3rd quarter. KBC Group NV now owns 10,170 shares of the real estate investment trust’s stock worth $102,000 after buying an additional 2,504 shares in the last quarter. 93.52% of the stock is owned by institutional investors.

LXP Industrial Trust Price Performance

Shares of LXP stock opened at $9.28 on Monday. The firm’s 50 day moving average price is $9.67 and its two-hundred day moving average price is $9.53. The stock has a market cap of $2.73 billion, a PE ratio of 154.69 and a beta of 0.88. LXP Industrial Trust has a 52-week low of $8.23 and a 52-week high of $10.56. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.12 and a current ratio of 0.12.

LXP Industrial Trust Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be paid a dividend of $0.135 per share. The ex-dividend date of this dividend is Tuesday, December 31st. This is a boost from LXP Industrial Trust’s previous quarterly dividend of $0.13. This represents a $0.54 dividend on an annualized basis and a dividend yield of 5.82%. LXP Industrial Trust’s payout ratio is 866.81%.

Analyst Ratings Changes

Separately, Evercore ISI boosted their target price on LXP Industrial Trust from $10.00 to $11.00 and gave the stock an “in-line” rating in a research 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 issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average 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.