Quest Partners LLC Acquires 11,597 Shares of LXP Industrial Trust (NYSE:LXP)

Quest Partners LLC grew its holdings in shares of LXP Industrial Trust (NYSE:LXP) by 8,053.5% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 11,741 shares of the real estate investment trust’s stock after acquiring an additional 11,597 shares during the quarter. Quest Partners LLC’s holdings in LXP Industrial Trust were worth $107,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Blue Trust Inc. increased its holdings in shares of LXP Industrial Trust by 1,596.2% in the second quarter. Blue Trust Inc. now owns 3,138 shares of the real estate investment trust’s stock worth $28,000 after buying an additional 2,953 shares during the period. CWM LLC raised its position in shares of LXP Industrial Trust by 52.4% in the 1st quarter. CWM LLC now owns 5,026 shares of the real estate investment trust’s stock worth $45,000 after acquiring an additional 1,728 shares in the last quarter. SageView Advisory Group LLC purchased a new position in shares of LXP Industrial Trust in the 1st quarter valued at approximately $61,000. Central Pacific Bank Trust Division bought a new stake in shares of LXP Industrial Trust during the first quarter valued at approximately $74,000. Finally, Quadrant Capital Group LLC raised its holdings in LXP Industrial Trust by 84.0% in the fourth quarter. Quadrant Capital Group LLC now owns 9,211 shares of the real estate investment trust’s stock worth $91,000 after purchasing an additional 4,206 shares in the last quarter. 93.52% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the stock. Jefferies Financial Group boosted their target price on shares of LXP Industrial Trust from $11.00 to $12.00 and gave the company a “buy” rating in a report on Friday, June 7th. Evercore ISI boosted 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. Finally, BNP Paribas began coverage on shares of LXP Industrial Trust in a research note on Tuesday, June 4th. They set an “outperform” rating and a $11.00 target price for the company. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, LXP Industrial Trust has a consensus rating of “Hold” and a consensus target price of $11.25.

LXP Industrial Trust Price Performance

LXP opened at $10.22 on Tuesday. LXP Industrial Trust has a 1 year low of $7.75 and a 1 year high of $10.56. The stock has a 50-day moving average price of $10.02 and a 200-day moving average price of $9.25. The firm has a market cap of $3.01 billion, a PE ratio of 255.50 and a beta of 0.87. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.11 and a quick ratio of 0.11.

LXP Industrial Trust Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th will be paid a $0.13 dividend. The ex-dividend date is Monday, September 30th. This represents a $0.52 annualized dividend and a dividend yield of 5.09%. LXP Industrial Trust’s dividend payout ratio is presently 1,300.00%.

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.