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

LXP Industrial Trust (NYSE:LXP)’s stock price reached a new 52-week low during trading on Thursday . The company traded as low as $8.20 and last traded at $8.22, with a volume of 3299577 shares changing hands. The stock had previously closed at $8.39.

Analyst Upgrades and Downgrades

Separately, 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.

LXP Industrial Trust Stock Performance

The company has a market cap of $2.42 billion, a P/E ratio of 137.02 and a beta of 0.86. The business has a fifty day moving average of $9.37 and a 200 day moving average of $9.59. The company has a quick ratio of 0.12, a current ratio of 0.12 and a debt-to-equity ratio of 0.21.

LXP Industrial Trust Increases Dividend

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

Institutional Trading of LXP Industrial Trust

Several large investors have recently bought and sold shares of the company. Geode Capital Management LLC boosted its position in shares of LXP Industrial Trust by 1.3% in the 3rd quarter. Geode Capital Management LLC now owns 7,388,828 shares of the real estate investment trust’s stock worth $74,271,000 after purchasing an additional 92,409 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of LXP Industrial Trust by 4.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 5,285,807 shares of the real estate investment trust’s stock worth $53,122,000 after acquiring an additional 209,718 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of LXP Industrial Trust by 7.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 4,383,993 shares of the real estate investment trust’s stock worth $39,982,000 after purchasing an additional 293,078 shares during the last quarter. William Blair Investment Management LLC bought a new position in LXP Industrial Trust in the 2nd quarter worth about $36,683,000. Finally, Bank of New York Mellon Corp grew its position in LXP Industrial Trust by 2.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 3,102,610 shares of the real estate investment trust’s stock valued at $28,296,000 after purchasing an additional 65,202 shares during the last quarter. 93.52% of the stock is owned by institutional investors.

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.