Millennium Management LLC Boosts Position in LXP Industrial Trust (NYSE:LXP)

Millennium Management LLC raised its position in LXP Industrial Trust (NYSE:LXP) by 173.9% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 1,861,986 shares of the real estate investment trust’s stock after purchasing an additional 1,182,258 shares during the period. Millennium Management LLC owned about 0.63% of LXP Industrial Trust worth $16,981,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Blue Trust Inc. grew its stake in LXP Industrial Trust by 1,596.2% in the 2nd quarter. Blue Trust Inc. now owns 3,138 shares of the real estate investment trust’s stock valued at $28,000 after acquiring an additional 2,953 shares during the last quarter. CWM LLC grew its position in shares of LXP Industrial Trust by 52.4% in the first quarter. CWM LLC now owns 5,026 shares of the real estate investment trust’s stock valued at $45,000 after purchasing an additional 1,728 shares during the last quarter. SageView Advisory Group LLC purchased a new position in shares of LXP Industrial Trust during the 1st quarter worth approximately $61,000. Central Pacific Bank Trust Division purchased a new position in shares of LXP Industrial Trust during the 1st quarter worth approximately $74,000. Finally, Sequoia Financial Advisors LLC acquired a new position in shares of LXP Industrial Trust during the 2nd quarter worth approximately $92,000. Hedge funds and other institutional investors own 93.52% of the company’s stock.

LXP Industrial Trust Price Performance

LXP Industrial Trust stock opened at $9.75 on Friday. LXP Industrial Trust has a 12-month low of $7.75 and a 12-month high of $10.56. The firm’s 50-day moving average is $10.04 and its two-hundred day moving average is $9.36. The stock has a market capitalization of $2.87 billion, a P/E ratio of 243.75 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 firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th will be paid a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a dividend yield of 5.33%. The ex-dividend date of this dividend is Monday, September 30th. LXP Industrial Trust’s dividend payout ratio is presently 1,300.00%.

Wall Street Analyst Weigh In

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

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.