Franklin Resources Inc. Sells 27,366 Shares of LXP Industrial Trust (NYSE:LXP)

Franklin Resources Inc. lowered its position in shares of LXP Industrial Trust (NYSE:LXPFree Report) by 14.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 159,349 shares of the real estate investment trust’s stock after selling 27,366 shares during the quarter. Franklin Resources Inc. owned approximately 0.05% of LXP Industrial Trust worth $1,581,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Charles Schwab Investment Management Inc. raised its position in shares of LXP Industrial Trust by 4.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 4,803,218 shares of the real estate investment trust’s stock worth $47,648,000 after acquiring an additional 199,736 shares during the last quarter. Massachusetts Financial Services Co. MA grew its stake in shares of LXP Industrial Trust by 0.6% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 4,140,607 shares of the real estate investment trust’s stock worth $41,075,000 after purchasing an additional 22,956 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of LXP Industrial Trust by 0.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 4,114,469 shares of the real estate investment trust’s stock worth $40,816,000 after purchasing an additional 22,001 shares during the period. Norges Bank acquired a new stake in shares of LXP Industrial Trust during the fourth quarter worth $31,529,000. Finally, Victory Capital Management Inc. grew its stake in shares of LXP Industrial Trust by 8.6% during the fourth quarter. Victory Capital Management Inc. now owns 2,784,769 shares of the real estate investment trust’s stock worth $27,625,000 after purchasing an additional 219,728 shares during the period. Institutional investors own 93.52% of the company’s stock.

LXP Industrial Trust Stock Up 1.8 %

NYSE:LXP opened at $8.60 on Wednesday. LXP Industrial Trust has a 1 year low of $7.75 and a 1 year high of $10.75. The company has a current ratio of 0.27, a quick ratio of 0.27 and a debt-to-equity ratio of 0.20. The stock has a market cap of $2.53 billion, a price-to-earnings ratio of 215.05 and a beta of 0.85. The stock has a 50-day moving average price of $8.72 and a two-hundred day moving average price of $9.00.

LXP Industrial Trust Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Thursday, March 28th were paid a $0.13 dividend. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $0.52 dividend on an annualized basis and a yield of 6.05%. LXP Industrial Trust’s payout ratio is 1,300.33%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on LXP shares. BNP Paribas started coverage on LXP Industrial Trust in a research note on Tuesday. They set an “outperform” rating and a $11.00 price objective for the company. StockNews.com cut LXP Industrial Trust from a “hold” rating to a “sell” rating in a research note on Friday, May 3rd.

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About LXP Industrial Trust

(Free Report)

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.

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Institutional Ownership by Quarter for LXP Industrial Trust (NYSE:LXP)

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