Franklin Resources Inc. Sells 10,945 Shares of LXP Industrial Trust (NYSE:LXP)

Franklin Resources Inc. cut its stake in LXP Industrial Trust (NYSE:LXP) by 11.0% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 88,741 shares of the real estate investment trust’s stock after selling 10,945 shares during the quarter. Franklin Resources Inc.’s holdings in LXP Industrial Trust were worth $851,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of LXP. GAMMA Investing LLC raised its holdings in LXP Industrial Trust by 81.1% during the 3rd quarter. GAMMA Investing LLC now owns 3,421 shares of the real estate investment trust’s stock worth $34,000 after buying an additional 1,532 shares during the period. KBC Group NV grew its stake in shares of LXP Industrial Trust by 32.7% during the 3rd quarter. KBC Group NV now owns 10,170 shares of the real estate investment trust’s stock worth $102,000 after acquiring an additional 2,504 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its stake in 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 valued at $116,000 after buying an additional 2,948 shares during the last quarter. Atria Investments Inc bought a new stake in LXP Industrial Trust during the third quarter worth about $118,000. Finally, Quest Partners LLC boosted its holdings in shares of LXP Industrial Trust by 8,053.5% in the 2nd 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 and hedge funds own 93.52% of the company’s stock.

Analyst Upgrades and Downgrades

LXP has been the topic of a number of recent analyst reports. JMP Securities reissued a “market perform” rating on shares of LXP Industrial Trust in a research report on Friday, December 20th. Evercore ISI lifted their price target on LXP Industrial Trust from $10.00 to $11.00 and gave the stock an “in-line” rating in a report on Monday, September 16th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company. According to MarketBeat, LXP Industrial Trust currently has a consensus rating of “Hold” and an average price target of $11.33.

LXP Industrial Trust Trading Down 1.2 %

Shares of LXP stock opened at $8.22 on Monday. The stock has a 50 day simple moving average of $9.17 and a 200 day simple moving average of $9.58. LXP Industrial Trust has a 1 year low of $8.08 and a 1 year high of $10.56. The company has a current ratio of 0.12, a quick ratio of 0.12 and a debt-to-equity ratio of 0.21. The stock has a market cap of $2.42 billion, a P/E ratio of 137.02 and a beta of 0.86.

LXP Industrial Trust Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be given a dividend of $0.135 per share. This is a boost from LXP Industrial Trust’s previous quarterly dividend of $0.13. The ex-dividend date is Tuesday, December 31st. This represents a $0.54 annualized dividend and a yield of 6.57%. LXP Industrial Trust’s dividend payout ratio is currently 900.00%.

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.