Shikiar Asset Management Inc. Boosts Stake in LXP Industrial Trust (NYSE:LXP)

Shikiar Asset Management Inc. lifted its position in LXP Industrial Trust (NYSE:LXP) by 14.8% in the 4th quarter, Holdings Channel reports. The fund owned 259,700 shares of the real estate investment trust’s stock after acquiring an additional 33,450 shares during the quarter. Shikiar Asset Management Inc.’s holdings in LXP Industrial Trust were worth $2,109,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. American Century Companies Inc. raised its holdings in LXP Industrial Trust by 8.2% in the second quarter. American Century Companies Inc. now owns 90,325 shares of the real estate investment trust’s stock worth $824,000 after purchasing an additional 6,845 shares in the last quarter. Dimensional Fund Advisors LP grew its position in shares of 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 buying an additional 293,078 shares during the period. Renaissance Technologies LLC increased its stake in shares of LXP Industrial Trust by 29.4% in the 2nd quarter. Renaissance Technologies LLC now owns 1,281,282 shares of the real estate investment trust’s stock worth $11,685,000 after acquiring an additional 291,000 shares in the last quarter. Hsbc Holdings PLC lifted its position in LXP Industrial Trust by 17.2% during the 2nd quarter. Hsbc Holdings PLC now owns 253,766 shares of the real estate investment trust’s stock valued at $2,310,000 after acquiring an additional 37,248 shares during the period. Finally, Intech Investment Management LLC purchased a new position in LXP Industrial Trust during the 2nd quarter valued at about $579,000. Hedge funds and other institutional investors own 93.52% of the company’s stock.

LXP Industrial Trust Trading Down 0.7 %

NYSE LXP opened at $8.15 on Friday. The stock’s fifty day moving average price is $8.74 and its 200-day moving average price is $9.48. The company has a current ratio of 0.12, a quick ratio of 0.12 and a debt-to-equity ratio of 0.21. The stock has a market cap of $2.40 billion, a P/E ratio of 135.77 and a beta of 0.89. LXP Industrial Trust has a 12 month low of $7.65 and a 12 month high of $10.56.

LXP Industrial Trust Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were paid a dividend of $0.135 per share. This is a positive change from LXP Industrial Trust’s previous quarterly dividend of $0.13. This represents a $0.54 dividend on an annualized basis and a yield of 6.63%. The ex-dividend date of this dividend was Tuesday, December 31st. LXP Industrial Trust’s dividend payout ratio (DPR) 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 analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $11.33.

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.