LXP Industrial Trust (NYSE:LXP) Short Interest Update

LXP Industrial Trust (NYSE:LXP) was the target of a large decrease in short interest in the month of September. As of September 30th, there was short interest totalling 3,230,000 shares, a decrease of 21.0% from the September 15th total of 4,090,000 shares. Based on an average daily trading volume, of 2,070,000 shares, the days-to-cover ratio is presently 1.6 days.

Institutional Trading of LXP Industrial Trust

A number of institutional investors have recently bought and sold shares of the stock. Long Pond Capital LP raised its stake in shares of LXP Industrial Trust by 139.3% in the first quarter. Long Pond Capital LP now owns 7,447,513 shares of the real estate investment trust’s stock worth $67,177,000 after purchasing an additional 4,335,751 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in LXP Industrial Trust by 7.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 4,383,993 shares of the real estate investment trust’s stock worth $39,982,000 after purchasing an additional 293,078 shares in the last quarter. William Blair Investment Management LLC purchased a new stake in shares of LXP Industrial Trust in the second quarter valued at approximately $36,683,000. Bank of New York Mellon Corp increased its holdings in shares of LXP Industrial Trust by 2.1% in the second quarter. Bank of New York Mellon Corp now owns 3,102,610 shares of the real estate investment trust’s stock valued at $28,296,000 after purchasing an additional 65,202 shares during the last quarter. Finally, Victory Capital Management Inc. lifted its position in LXP Industrial Trust by 5.8% during the second quarter. Victory Capital Management Inc. now owns 2,941,937 shares of the real estate investment trust’s stock worth $26,830,000 after buying an additional 160,651 shares in the last quarter. 93.52% of the stock is currently owned by institutional investors and hedge funds.

LXP Industrial Trust Stock Up 1.3 %

LXP stock traded up $0.12 during trading on Friday, reaching $9.61. 1,302,587 shares of the company traded hands, compared to its average volume of 2,246,881. The business has a 50 day simple moving average of $9.97 and a 200 day simple moving average of $9.38. LXP Industrial Trust has a 12 month low of $7.75 and a 12 month high of $10.56. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.11 and a current ratio of 0.11. The company has a market capitalization of $2.83 billion, a price-to-earnings ratio of 240.25 and a beta of 0.87.

LXP Industrial Trust Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th will be paid a dividend of $0.13 per share. The ex-dividend date of this dividend is Monday, September 30th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 5.41%. LXP Industrial Trust’s payout ratio is 1,300.00%.

Analyst Upgrades and Downgrades

Separately, Evercore ISI upped their price objective on shares of LXP Industrial Trust from $10.00 to $11.00 and gave the stock an “in-line” rating in a research note on Monday, September 16th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, LXP Industrial Trust has an average rating of “Hold” and a consensus target price of $11.25.

LXP Industrial Trust Company 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.