Gold Investment Management Ltd. Trims Position in LXP Industrial Trust (NYSE:LXP)

Gold Investment Management Ltd. cut its stake in LXP Industrial Trust (NYSE:LXP) by 90.4% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 5,474 shares of the real estate investment trust’s stock after selling 51,531 shares during the period. Gold Investment Management Ltd.’s holdings in LXP Industrial Trust were worth $55,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in LXP. SG Americas Securities LLC increased its position in shares of LXP Industrial Trust by 294.3% during the second quarter. SG Americas Securities LLC now owns 153,093 shares of the real estate investment trust’s stock worth $1,396,000 after acquiring an additional 114,269 shares during the last quarter. Centersquare Investment Management LLC increased its position in shares of LXP Industrial Trust by 38.6% during the 1st quarter. Centersquare Investment Management LLC now owns 282,510 shares of the real estate investment trust’s stock valued at $2,359,000 after purchasing an additional 78,610 shares during the period. UniSuper Management Pty Ltd raised its position in shares of LXP Industrial Trust by 127.6% during the first quarter. UniSuper Management Pty Ltd now owns 185,708 shares of the real estate investment trust’s stock worth $1,675,000 after purchasing an additional 104,108 shares during the period. Victory Capital Management Inc. lifted its position in shares of LXP Industrial Trust by 5.8% in the 2nd quarter. Victory Capital Management Inc. now owns 2,941,937 shares of the real estate investment trust’s stock valued at $26,830,000 after acquiring an additional 160,651 shares in the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. boosted its position in shares of LXP Industrial Trust by 624.2% in the second 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 buying an additional 2,065,667 shares during the period. 93.52% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, Evercore ISI raised their price target on shares of LXP Industrial Trust from $10.00 to $11.00 and gave the stock an “in-line” rating in a report on Monday, September 16th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, LXP Industrial Trust presently has a consensus rating of “Hold” and an average target price of $11.25.

LXP Industrial Trust Price Performance

LXP stock traded up $0.04 during trading on Friday, hitting $9.62. 41,100 shares of the stock traded hands, compared to its average volume of 2,213,743. The company has a 50 day simple moving average of $9.85 and a 200 day simple moving average of $9.47. The company has a current ratio of 0.11, a quick ratio of 0.11 and a debt-to-equity ratio of 0.21. LXP Industrial Trust has a one year low of $8.08 and a one year high of $10.56. The stock has a market cap of $2.83 billion, a price-to-earnings ratio of 119.76 and a beta of 0.88.

LXP Industrial Trust Increases Dividend

The firm also recently announced 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. The ex-dividend date of this dividend is Tuesday, December 31st. This is a positive change from LXP Industrial Trust’s previous quarterly dividend of $0.13. This represents a $0.54 annualized dividend and a yield of 5.61%. LXP Industrial Trust’s payout ratio is currently 650.08%.

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.