MetLife Investment Management LLC Has $1.71 Million Stake in LXP Industrial Trust (NYSE:LXP)

MetLife Investment Management LLC reduced its holdings in shares of LXP Industrial Trust (NYSE:LXP) by 3.8% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 169,872 shares of the real estate investment trust’s stock after selling 6,786 shares during the period. MetLife Investment Management LLC’s holdings in LXP Industrial Trust were worth $1,707,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the business. William Blair Investment Management LLC acquired a new position in shares of LXP Industrial Trust during the 2nd quarter valued at $36,683,000. Sumitomo Mitsui Trust Holdings Inc. raised its holdings in shares of LXP Industrial Trust by 624.2% during the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,396,610 shares of the real estate investment trust’s stock valued at $21,857,000 after purchasing an additional 2,065,667 shares during the period. Millennium Management LLC boosted its position in shares of LXP Industrial Trust by 173.9% during the 2nd quarter. Millennium Management LLC now owns 1,861,986 shares of the real estate investment trust’s stock worth $16,981,000 after purchasing an additional 1,182,258 shares in the last quarter. Marshall Wace LLP grew its stake in shares of LXP Industrial Trust by 106.5% in the 2nd quarter. Marshall Wace LLP now owns 1,047,245 shares of the real estate investment trust’s stock valued at $9,551,000 after buying an additional 540,045 shares during the period. Finally, Lighthouse Investment Partners LLC increased its position in LXP Industrial Trust by 59.6% in the 2nd quarter. Lighthouse Investment Partners LLC now owns 1,205,000 shares of the real estate investment trust’s stock valued at $10,990,000 after buying an additional 450,000 shares in the last quarter. 93.52% of the stock is owned by institutional investors.

LXP Industrial Trust Stock Down 0.6 %

Shares of NYSE LXP opened at $9.22 on Friday. 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 company has a 50-day moving average price of $9.52 and a 200-day moving average price of $9.56. The stock has a market capitalization of $2.72 billion, a P/E ratio of 153.69 and a beta of 0.86. LXP Industrial Trust has a 1 year low of $8.23 and a 1 year high of $10.56.

LXP Industrial Trust Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders 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 represents a $0.54 dividend on an annualized basis and a yield of 5.86%. This is an increase from LXP Industrial Trust’s previous quarterly dividend of $0.13. LXP Industrial Trust’s payout ratio is 866.81%.

Analyst Upgrades and Downgrades

Separately, Evercore ISI raised their price objective on LXP Industrial Trust from $10.00 to $11.00 and gave the company an “in-line” rating in a research note 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, the company currently has an average 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.