LXP Industrial Trust (NYSE:LXP) Shares Sold by Verition Fund Management LLC

Verition Fund Management LLC trimmed its holdings in shares of LXP Industrial Trust (NYSE:LXP) by 31.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 765,755 shares of the real estate investment trust’s stock after selling 348,870 shares during the period. Verition Fund Management LLC’s holdings in LXP Industrial Trust were worth $7,696,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the business. William Blair Investment Management LLC acquired a new position in shares of LXP Industrial Trust in the 2nd quarter valued at about $36,683,000. Sumitomo Mitsui Trust Holdings Inc. raised its position in LXP Industrial Trust by 624.2% during the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,396,610 shares of the real estate investment trust’s stock valued at $21,857,000 after acquiring an additional 2,065,667 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in LXP Industrial Trust by 340.6% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,213,117 shares of the real estate investment trust’s stock valued at $22,242,000 after acquiring an additional 1,710,867 shares during the period. Millennium Management LLC boosted its position in LXP Industrial Trust by 173.9% in the 2nd quarter. Millennium Management LLC now owns 1,861,986 shares of the real estate investment trust’s stock worth $16,981,000 after purchasing an additional 1,182,258 shares in the last quarter. Finally, Marshall Wace LLP grew its stake in shares of LXP Industrial Trust by 106.5% during the 2nd quarter. Marshall Wace LLP now owns 1,047,245 shares of the real estate investment trust’s stock worth $9,551,000 after purchasing an additional 540,045 shares during the period. 93.52% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

LXP Industrial Trust Stock Down 0.7 %

Shares of LXP opened at $9.35 on Monday. The firm has a market cap of $2.75 billion, a P/E ratio of 155.86 and a beta of 0.88. LXP Industrial Trust has a 12 month low of $8.23 and a 12 month high of $10.56. The stock’s 50 day moving average is $9.59 and its two-hundred day moving average is $9.56. The company has a current ratio of 0.12, a quick ratio of 0.12 and a debt-to-equity ratio of 0.21.

LXP Industrial Trust Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be given a $0.135 dividend. This is a positive change from LXP Industrial Trust’s previous quarterly dividend of $0.13. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $0.54 annualized dividend and a dividend yield of 5.78%. LXP Industrial Trust’s dividend payout ratio (DPR) is 866.81%.

LXP Industrial Trust 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.