Intech Investment Management LLC Acquires 61,682 Shares of LXP Industrial Trust (NYSE:LXP)

Intech Investment Management LLC grew its stake in shares of LXP Industrial Trust (NYSE:LXP) by 97.1% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 125,196 shares of the real estate investment trust’s stock after purchasing an additional 61,682 shares during the period. Intech Investment Management LLC’s holdings in LXP Industrial Trust were worth $1,258,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently modified their holdings of LXP. William Blair Investment Management LLC bought a new stake in LXP Industrial Trust during the second quarter worth $36,683,000. Sumitomo Mitsui Trust Holdings Inc. grew its stake in shares of 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 worth $21,857,000 after acquiring an additional 2,065,667 shares in the last quarter. Millennium Management LLC raised its holdings in shares of LXP Industrial Trust by 173.9% in the second quarter. Millennium Management LLC now owns 1,861,986 shares of the real estate investment trust’s stock valued at $16,981,000 after purchasing an additional 1,182,258 shares during the last quarter. Marshall Wace LLP lifted its position in shares of LXP Industrial Trust by 106.5% during the second quarter. Marshall Wace LLP now owns 1,047,245 shares of the real estate investment trust’s stock valued at $9,551,000 after purchasing an additional 540,045 shares in the last quarter. Finally, Lighthouse Investment Partners LLC boosted its holdings in LXP Industrial Trust by 59.6% during the second quarter. Lighthouse Investment Partners LLC now owns 1,205,000 shares of the real estate investment trust’s stock worth $10,990,000 after purchasing an additional 450,000 shares during the last quarter. 93.52% of the stock is owned by hedge funds and other institutional investors.

LXP Industrial Trust Trading Down 0.9 %

NYSE LXP opened at $9.33 on Wednesday. The business’s fifty day moving average is $9.64 and its 200-day moving average is $9.55. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.12 and a quick ratio of 0.12. The stock has a market capitalization of $2.75 billion, a price-to-earnings ratio of 155.50 and a beta of 0.88. LXP Industrial Trust has a one year low of $8.23 and a one year high of $10.56.

LXP Industrial Trust Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be paid a $0.135 dividend. This represents a $0.54 dividend on an annualized basis and a yield of 5.79%. This is a boost from LXP Industrial Trust’s previous quarterly dividend of $0.13. The ex-dividend date of this dividend is Tuesday, December 31st. LXP Industrial Trust’s payout ratio is presently 900.00%.

Wall Street Analysts Forecast Growth

Separately, Evercore ISI lifted their target price on shares of 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 given a buy rating to the company. According to MarketBeat.com, LXP Industrial Trust currently has a consensus rating of “Hold” and an average target price 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.