LXP Industrial Trust (NYSE:LXP) Sees Significant Growth in Short Interest

LXP Industrial Trust (NYSE:LXP) saw a significant growth in short interest in the month of July. As of July 15th, there was short interest totalling 5,110,000 shares, a growth of 28.4% from the June 30th total of 3,980,000 shares. Based on an average daily trading volume, of 2,340,000 shares, the days-to-cover ratio is presently 2.2 days.

Insider Activity

In other news, Director Arun Gupta acquired 15,000 shares of the 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 directly owns 65,474 shares of the company’s stock, valued at approximately $585,992.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 2.17% of the stock is currently owned by insiders.

Hedge Funds Weigh In On LXP Industrial Trust

A number of institutional investors and hedge funds have recently modified their holdings of LXP. Raymond James Financial Services Advisors Inc. bought a new position in shares of LXP Industrial Trust during the 4th quarter worth approximately $112,000. Manning & Napier Group LLC boosted its holdings in shares of LXP Industrial Trust by 30.3% during the 4th quarter. Manning & Napier Group LLC now owns 774,188 shares of the real estate investment trust’s stock worth $7,680,000 after buying an additional 180,204 shares in the last quarter. AlphaMark Advisors LLC boosted its holdings in shares of LXP Industrial Trust by 8.4% during the 4th quarter. AlphaMark Advisors LLC now owns 28,042 shares of the real estate investment trust’s stock worth $278,000 after buying an additional 2,177 shares in the last quarter. Oak Thistle LLC bought a new position in shares of LXP Industrial Trust during the 4th quarter worth approximately $124,000. Finally, Asset Management One Co. Ltd. boosted its holdings in shares of LXP Industrial Trust by 13.1% during the 4th quarter. Asset Management One Co. Ltd. now owns 851,175 shares of the real estate investment trust’s stock worth $8,571,000 after buying an additional 98,261 shares in the last quarter. 93.52% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

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

LXP Industrial Trust Stock Performance

Shares of LXP stock opened at $10.33 on Tuesday. The business’s 50 day simple moving average is $9.20 and its 200 day simple moving average is $9.01. LXP Industrial Trust has a one year low of $7.75 and a one year high of $10.49. The stock has a market capitalization of $3.04 billion, a PE ratio of 258.31 and a beta of 0.86. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.27 and a quick ratio of 0.27.

LXP Industrial Trust Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, July 15th. Shareholders of record on Friday, June 28th were issued a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a dividend yield of 5.03%. The ex-dividend date was Friday, June 28th. LXP Industrial Trust’s payout ratio is 1,300.33%.

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.