Deutsche Bank AG cut its holdings in LXP Industrial Trust (NYSE:LXP – Free Report) by 20.3% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 413,946 shares of the real estate investment trust’s stock after selling 105,542 shares during the period. Deutsche Bank AG owned about 0.14% of LXP Industrial Trust worth $3,581,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also made changes to their positions in LXP. Charles Schwab Investment Management Inc. raised its stake in LXP Industrial Trust by 7.6% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 5,738,916 shares of the real estate investment trust’s stock valued at $49,642,000 after purchasing an additional 407,059 shares during the last quarter. Vanguard Group Inc. raised its stake in LXP Industrial Trust by 0.5% in the 1st quarter. Vanguard Group Inc. now owns 46,064,359 shares of the real estate investment trust’s stock valued at $398,457,000 after purchasing an additional 214,696 shares during the last quarter. Centersquare Investment Management LLC raised its stake in LXP Industrial Trust by 1,103.9% in the 1st quarter. Centersquare Investment Management LLC now owns 4,271,470 shares of the real estate investment trust’s stock valued at $36,948,000 after purchasing an additional 3,916,670 shares during the last quarter. PNC Financial Services Group Inc. raised its stake in LXP Industrial Trust by 3.4% in the 1st quarter. PNC Financial Services Group Inc. now owns 47,880 shares of the real estate investment trust’s stock valued at $414,000 after purchasing an additional 1,574 shares during the last quarter. Finally, Jefferies Financial Group Inc. acquired a new position in LXP Industrial Trust in the 1st quarter valued at about $146,000. 93.52% of the stock is currently owned by hedge funds and other institutional investors.
LXP Industrial Trust Trading Down 1.2%
NYSE LXP opened at $8.14 on Tuesday. LXP Industrial Trust has a 12 month low of $6.85 and a 12 month high of $10.44. The company has a 50-day moving average of $8.31 and a 200-day moving average of $8.36. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.13 and a quick ratio of 0.13. The company has a market cap of $2.41 billion, a P/E ratio of 29.05 and a beta of 1.01.
LXP Industrial Trust Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th were paid a dividend of $0.135 per share. The ex-dividend date of this dividend was Monday, June 30th. This represents a $0.54 dividend on an annualized basis and a dividend yield of 6.6%. LXP Industrial Trust’s dividend payout ratio is currently 192.86%.
Wall Street Analyst Weigh In
LXP has been the subject of several analyst reports. JMP Securities reissued a “market perform” rating on shares of LXP Industrial Trust in a research note on Monday, May 5th. KeyCorp cut their target price on shares of LXP Industrial Trust from $11.00 to $10.00 and set an “overweight” rating for the company in a research note on Friday, May 2nd.
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.
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