Short Interest in LXP Industrial Trust (NYSE:LXP) Increases By 23.0%

LXP Industrial Trust (NYSE:LXP) was the target of a significant growth in short interest in November. As of November 15th, there was short interest totalling 5,140,000 shares, a growth of 23.0% from the October 31st total of 4,180,000 shares. Based on an average daily volume of 1,990,000 shares, the short-interest ratio is presently 2.6 days.

LXP Industrial Trust Stock Performance

Shares of NYSE LXP traded up $0.08 during midday trading on Monday, reaching $9.43. 2,185,256 shares of the company were exchanged, compared to its average volume of 2,196,680. The company has a current ratio of 0.12, a quick ratio of 0.12 and a debt-to-equity ratio of 0.21. LXP Industrial Trust has a 1 year low of $8.23 and a 1 year high of $10.56. The stock has a fifty day simple moving average of $9.57 and a 200 day simple moving average of $9.56. The stock has a market cap of $2.78 billion, a P/E ratio of 157.19 and a beta of 0.88.

LXP Industrial Trust Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be issued a dividend of $0.135 per share. The ex-dividend date is Tuesday, December 31st. This represents a $0.54 dividend on an annualized basis and a dividend yield of 5.73%. This is a positive change from LXP Industrial Trust’s previous quarterly dividend of $0.13. LXP Industrial Trust’s dividend payout ratio (DPR) is currently 866.81%.

Wall Street Analyst Weigh In

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

Institutional Investors Weigh In On LXP Industrial Trust

A number of institutional investors have recently added to or reduced their stakes in LXP. Price T Rowe Associates Inc. MD boosted its holdings in LXP Industrial Trust by 6.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 167,144 shares of the real estate investment trust’s stock valued at $1,508,000 after purchasing an additional 10,594 shares in the last quarter. SG Americas Securities LLC boosted its stake in shares of LXP Industrial Trust by 294.3% during the 2nd quarter. SG Americas Securities LLC now owns 153,093 shares of the real estate investment trust’s stock worth $1,396,000 after acquiring an additional 114,269 shares in the last quarter. Sequoia Financial Advisors LLC purchased a new stake in shares of LXP Industrial Trust during the 2nd quarter worth approximately $92,000. Diversified Trust Co raised its position in shares of LXP Industrial Trust by 199.1% during the 2nd quarter. Diversified Trust Co now owns 36,792 shares of the real estate investment trust’s stock worth $336,000 after purchasing an additional 24,492 shares during the last quarter. Finally, AlphaMark Advisors LLC raised its position in shares of LXP Industrial Trust by 18.3% during the 2nd quarter. AlphaMark Advisors LLC now owns 36,316 shares of the real estate investment trust’s stock worth $331,000 after purchasing an additional 5,621 shares during the last quarter. Hedge funds and other 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.