Evercore ISI Boosts LXP Industrial Trust (NYSE:LXP) Price Target to $11.00

LXP Industrial Trust (NYSE:LXP) had its price target raised by Evercore ISI from $10.00 to $11.00 in a research report released on Monday morning, Benzinga reports. They currently have an in-line rating on the real estate investment trust’s stock.

A number of other brokerages have also recently issued reports on LXP. BNP Paribas initiated coverage on LXP Industrial Trust in a report on Tuesday, June 4th. They set an outperform rating and a $11.00 price objective for the company. Jefferies Financial Group lifted their price target on shares of LXP Industrial Trust from $11.00 to $12.00 and gave the company a buy rating in a research report on Friday, June 7th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, LXP Industrial Trust has an average rating of Hold and an average target price of $11.25.

LXP Industrial Trust Trading Down 0.2 %

Shares of NYSE:LXP opened at $10.15 on Monday. LXP Industrial Trust has a 12-month low of $7.75 and a 12-month high of $10.56. The stock has a market cap of $2.99 billion, a PE ratio of 253.63 and a beta of 0.87. The business has a 50 day moving average of $10.05 and a 200-day moving average of $9.27. The company has a quick ratio of 0.11, a current ratio of 0.11 and a debt-to-equity ratio of 0.21.

LXP Industrial Trust Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th will be given a $0.13 dividend. The ex-dividend date of this dividend is Monday, September 30th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 5.13%. LXP Industrial Trust’s payout ratio is 1,300.00%.

Institutional Investors Weigh In On LXP Industrial Trust

A number of hedge funds and other institutional investors have recently made changes to their positions in LXP. SG Americas Securities LLC raised its position in LXP Industrial Trust by 294.3% during the second quarter. SG Americas Securities LLC now owns 153,093 shares of the real estate investment trust’s stock valued at $1,396,000 after purchasing an additional 114,269 shares in the last quarter. Centersquare Investment Management LLC raised its position in LXP Industrial Trust by 38.6% during the first quarter. Centersquare Investment Management LLC now owns 282,510 shares of the real estate investment trust’s stock valued at $2,359,000 after purchasing an additional 78,610 shares in the last quarter. Norges Bank acquired a new position in LXP Industrial Trust during the fourth quarter valued at approximately $31,529,000. UniSuper Management Pty Ltd raised its position in LXP Industrial Trust by 127.6% during the first quarter. UniSuper Management Pty Ltd now owns 185,708 shares of the real estate investment trust’s stock valued at $1,675,000 after purchasing an additional 104,108 shares in the last quarter. Finally, Public Employees Retirement Association of Colorado raised its position in LXP Industrial Trust by 4,618.9% during the fourth quarter. Public Employees Retirement Association of Colorado now owns 1,443,977 shares of the real estate investment trust’s stock valued at $14,324,000 after purchasing an additional 1,413,377 shares in the last quarter. 93.52% of the stock is currently owned by institutional investors and hedge funds.

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.