LXP Industrial Trust (NYSE:LXP) Hits New 52-Week Low – Time to Sell?

Shares of LXP Industrial Trust (NYSE:LXP) hit a new 52-week low on Friday . The stock traded as low as $7.84 and last traded at $7.86, with a volume of 134386 shares trading hands. The stock had previously closed at $8.02.

Analyst Ratings Changes

Several brokerages have recently issued reports on LXP. JMP Securities restated a “market perform” rating on shares of LXP Industrial Trust in a report on Friday, December 20th. Evercore ISI boosted their price objective on shares of LXP Industrial Trust from $10.00 to $11.00 and gave the company an “in-line” rating in a research report on Monday, September 16th. One analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, LXP Industrial Trust presently has a consensus rating of “Hold” and a consensus price target of $11.33.

LXP Industrial Trust Stock Performance

The company’s 50-day moving average price is $8.88 and its 200 day moving average price is $9.52. The stock has a market capitalization of $2.27 billion, a PE ratio of 128.69 and a beta of 0.89. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.12 and a current ratio of 0.12.

LXP Industrial Trust Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be issued a dividend of $0.135 per share. This is an increase from LXP Industrial Trust’s previous quarterly dividend of $0.13. The ex-dividend date is Tuesday, December 31st. This represents a $0.54 dividend on an annualized basis and a dividend yield of 6.99%. LXP Industrial Trust’s dividend payout ratio is 900.00%.

Institutional Trading of LXP Industrial Trust

A number of hedge funds have recently modified their holdings of the business. GAMMA Investing LLC boosted its stake in LXP Industrial Trust by 81.1% during the third quarter. GAMMA Investing LLC now owns 3,421 shares of the real estate investment trust’s stock worth $34,000 after acquiring an additional 1,532 shares in the last quarter. KBC Group NV boosted its position in shares of LXP Industrial Trust by 32.7% in the 3rd quarter. KBC Group NV now owns 10,170 shares of the real estate investment trust’s stock worth $102,000 after purchasing an additional 2,504 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of LXP Industrial Trust by 34.8% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 11,424 shares of the real estate investment trust’s stock worth $116,000 after buying an additional 2,948 shares during the last quarter. Atria Investments Inc bought a new position in LXP Industrial Trust during the 3rd quarter valued at approximately $118,000. Finally, Quest Partners LLC raised its stake in LXP Industrial Trust by 8,053.5% during the second quarter. Quest Partners LLC now owns 11,741 shares of the real estate investment trust’s stock valued at $107,000 after buying an additional 11,597 shares during the last quarter. Institutional investors own 93.52% of the company’s stock.

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.