Victory Capital Management Inc. Trims Stock Holdings in LXP Industrial Trust (NYSE:LXP)

Victory Capital Management Inc. cut its holdings in shares of LXP Industrial Trust (NYSE:LXP) by 2.0% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,882,158 shares of the real estate investment trust’s stock after selling 59,779 shares during the period. Victory Capital Management Inc.’s holdings in LXP Industrial Trust were worth $28,966,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. SG Americas Securities LLC increased its stake in shares of 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 worth $1,396,000 after buying an additional 114,269 shares during the period. UniSuper Management Pty Ltd boosted its holdings in LXP Industrial Trust by 127.6% in 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. Sumitomo Mitsui Trust Holdings Inc. boosted its holdings in LXP Industrial Trust by 624.2% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,396,610 shares of the real estate investment trust’s stock valued at $21,857,000 after purchasing an additional 2,065,667 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. boosted its holdings in LXP Industrial Trust by 16.5% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,792,408 shares of the real estate investment trust’s stock valued at $28,064,000 after purchasing an additional 395,798 shares in the last quarter. Finally, MQS Management LLC acquired a new position in LXP Industrial Trust in the second quarter valued at approximately $542,000. 93.52% of the stock is currently owned by hedge funds and other institutional investors.

LXP Industrial Trust Price Performance

LXP Industrial Trust stock opened at $9.18 on Monday. LXP Industrial Trust has a 12 month low of $8.13 and a 12 month high of $10.56. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.12 and a quick ratio of 0.12. The business has a 50 day simple moving average of $9.75 and a 200-day simple moving average of $9.51. The stock has a market capitalization of $2.70 billion, a PE ratio of 153.03 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. Stockholders of record on Tuesday, December 31st will be paid a dividend of $0.135 per share. This represents a $0.54 annualized dividend and a dividend yield of 5.88%. The ex-dividend date is Tuesday, December 31st. This is a boost from LXP Industrial Trust’s previous quarterly dividend of $0.13. LXP Industrial Trust’s dividend payout ratio is 866.81%.

Analyst Upgrades and Downgrades

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

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.