Clearbridge Investments LLC Has $12.28 Million Stock Position in LXP Industrial Trust (NYSE:LXP)

Clearbridge Investments LLC lifted its holdings in shares of LXP Industrial Trust (NYSE:LXP) by 2.1% in the first quarter, Holdings Channel.com reports. The institutional investor owned 1,360,868 shares of the real estate investment trust’s stock after acquiring an additional 27,812 shares during the period. Clearbridge Investments LLC’s holdings in LXP Industrial Trust were worth $12,275,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of LXP. Norges Bank acquired a new position in shares of LXP Industrial Trust during the 4th quarter worth $31,529,000. Waterfront Capital Partners LLC increased its holdings in LXP Industrial Trust by 105.0% in the 4th quarter. Waterfront Capital Partners LLC now owns 3,485,803 shares of the real estate investment trust’s stock worth $34,579,000 after purchasing an additional 1,785,803 shares in the last quarter. Public Employees Retirement Association of Colorado increased its holdings in LXP Industrial Trust by 4,618.9% in the 4th quarter. Public Employees Retirement Association of Colorado now owns 1,443,977 shares of the real estate investment trust’s stock worth $14,324,000 after purchasing an additional 1,413,377 shares in the last quarter. Hazelview Securities Inc. acquired a new position in LXP Industrial Trust in the 1st quarter worth about $12,042,000. Finally, Aew Capital Management L P acquired a new position in LXP Industrial Trust in the 4th quarter worth about $4,643,000. Institutional investors and hedge funds own 93.52% of the company’s stock.

Insider Activity

In related news, Director Arun Gupta purchased 15,000 shares of the firm’s stock in a transaction dated Wednesday, June 12th. The stock was bought at an average price of $8.95 per share, with a total value of $134,250.00. Following the completion of the purchase, the director now owns 65,474 shares in the company, valued at approximately $585,992.30. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 2.17% of the company’s stock.

LXP Industrial Trust Trading Down 1.6 %

Shares of LXP stock traded down $0.17 on Wednesday, hitting $10.23. The company had a trading volume of 2,824,112 shares, compared to its average volume of 2,343,570. The firm has a market cap of $3.01 billion, a P/E ratio of 259.81 and a beta of 0.86. The stock’s 50-day moving average is $9.08 and its two-hundred day moving average is $8.99. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.27 and a current ratio of 0.27. LXP Industrial Trust has a twelve month low of $7.75 and a twelve month high of $10.75.

LXP Industrial Trust Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, July 15th. Stockholders of record on Friday, June 28th were paid a $0.13 dividend. The ex-dividend date was Friday, June 28th. This represents a $0.52 annualized dividend and a dividend yield of 5.09%. LXP Industrial Trust’s payout ratio is 1,300.33%.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on LXP. Jefferies Financial Group upped their target price on LXP Industrial Trust from $11.00 to $12.00 and gave the stock a “buy” rating in a report on Friday, June 7th. StockNews.com cut LXP Industrial Trust from a “hold” rating to a “sell” rating in a report on Friday, May 3rd. Finally, BNP Paribas began coverage on LXP Industrial Trust in a report on Tuesday, June 4th. They issued an “outperform” rating and a $11.00 target price for the company.

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.