Hazelview Securities Inc. Makes New Investment in LXP Industrial Trust (NYSE:LXP)

Hazelview Securities Inc. acquired a new position in shares of LXP Industrial Trust (NYSE:LXP) during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 1,356,100 shares of the real estate investment trust’s stock, valued at approximately $12,042,000. LXP Industrial Trust makes up approximately 2.3% of Hazelview Securities Inc.’s holdings, making the stock its 19th largest position.

A number of other large investors have also recently bought and sold shares of LXP. CWM LLC grew its stake in LXP Industrial Trust by 65.1% during the fourth quarter. CWM LLC now owns 3,298 shares of the real estate investment trust’s stock worth $33,000 after buying an additional 1,300 shares in the last quarter. Sherbrooke Park Advisers LLC acquired a new stake in LXP Industrial Trust during the third quarter worth about $90,000. Quadrant Capital Group LLC grew its stake in LXP Industrial Trust by 84.0% during the fourth quarter. Quadrant Capital Group LLC now owns 9,211 shares of the real estate investment trust’s stock worth $91,000 after buying an additional 4,206 shares in the last quarter. Raymond James Financial Services Advisors Inc. acquired a new stake in LXP Industrial Trust during the fourth quarter worth about $112,000. Finally, Oak Thistle LLC acquired a new stake in LXP Industrial Trust during the fourth quarter worth about $124,000. 93.52% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at LXP Industrial Trust

In other news, Director Arun Gupta acquired 15,000 shares of the stock in a transaction that occurred on Wednesday, June 12th. The shares were acquired at an average cost of $8.95 per share, for a total transaction of $134,250.00. Following the purchase, the director now owns 65,474 shares of the company’s stock, valued at approximately $585,992.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 2.17% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. Jefferies Financial Group increased their price objective on shares of LXP Industrial Trust from $11.00 to $12.00 and gave the stock a “buy” rating in a research note on Friday, June 7th. StockNews.com downgraded shares of LXP Industrial Trust from a “hold” rating to a “sell” rating in a research note on Friday, May 3rd. Finally, BNP Paribas initiated coverage on shares of LXP Industrial Trust in a research note on Tuesday, June 4th. They issued an “outperform” rating and a $11.00 price target on the stock.

LXP Industrial Trust Stock Performance

Shares of NYSE:LXP traded down $0.10 during midday trading on Wednesday, reaching $9.03. The company had a trading volume of 809,534 shares, compared to its average volume of 2,314,114. The company’s 50 day moving average price is $8.68 and its 200 day moving average price is $9.01. The company has a current ratio of 0.27, a quick ratio of 0.27 and a debt-to-equity ratio of 0.20. The stock has a market cap of $2.66 billion, a P/E ratio of 226.31 and a beta of 0.85. LXP Industrial Trust has a 52-week low of $7.75 and a 52-week high of $10.75.

LXP Industrial Trust Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Friday, June 28th will be paid a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a yield of 5.76%. The ex-dividend date is Friday, June 28th. LXP Industrial Trust’s dividend payout ratio is currently 1,300.33%.

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.