Magnus Financial Group LLC Purchases 3,005 Shares of LXP Industrial Trust (NYSE:LXP)

Magnus Financial Group LLC boosted its position in shares of LXP Industrial Trust (NYSE:LXP) by 2.9% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 105,441 shares of the real estate investment trust’s stock after buying an additional 3,005 shares during the period. Magnus Financial Group LLC’s holdings in LXP Industrial Trust were worth $856,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of LXP. GAMMA Investing LLC boosted its position in shares of LXP Industrial Trust by 81.1% during the 3rd quarter. GAMMA Investing LLC now owns 3,421 shares of the real estate investment trust’s stock worth $34,000 after acquiring an additional 1,532 shares in the last quarter. First Hawaiian Bank bought a new stake in LXP Industrial Trust during the fourth quarter worth $100,000. KBC Group NV boosted its holdings in shares of LXP Industrial Trust by 32.7% in the 3rd quarter. KBC Group NV now owns 10,170 shares of the real estate investment trust’s stock valued at $102,000 after purchasing an additional 2,504 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of LXP Industrial Trust by 34.8% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 11,424 shares of the real estate investment trust’s stock valued at $116,000 after purchasing an additional 2,948 shares during the last quarter. Finally, Atria Investments Inc acquired a new position in shares of LXP Industrial Trust during the 3rd quarter worth $118,000. 93.52% of the stock is owned by institutional investors.

LXP Industrial Trust Stock Performance

NYSE LXP opened at $8.35 on Thursday. The firm’s fifty day moving average price is $8.68 and its two-hundred day moving average price is $9.46. The stock has a market cap of $2.46 billion, a PE ratio of 139.11 and a beta of 0.89. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.12 and a current ratio of 0.12. LXP Industrial Trust has a fifty-two week low of $7.65 and a fifty-two week high of $10.56.

LXP Industrial Trust Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were given a dividend of $0.135 per share. The ex-dividend date was Tuesday, December 31st. This represents a $0.54 dividend on an annualized basis and a yield of 6.47%. This is a positive change from LXP Industrial Trust’s previous quarterly dividend of $0.13. LXP Industrial Trust’s payout ratio is currently 900.15%.

Wall Street Analyst Weigh In

Separately, JMP Securities reaffirmed a “market perform” rating on shares of LXP Industrial Trust in a research note on Friday, December 20th. One research analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, LXP Industrial Trust currently has an average rating of “Hold” and an average price target of $11.33.

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.