Quest Partners LLC Has $3.85 Million Stock Position in LXP Industrial Trust (NYSE:LXP)

Quest Partners LLC grew its holdings in LXP Industrial Trust (NYSE:LXP) by 3,160.1% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 382,769 shares of the real estate investment trust’s stock after purchasing an additional 371,028 shares during the period. LXP Industrial Trust comprises approximately 0.3% of Quest Partners LLC’s investment portfolio, making the stock its 15th biggest holding. Quest Partners LLC owned approximately 0.13% of LXP Industrial Trust worth $3,847,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in LXP. SG Americas Securities LLC increased its position in shares of LXP Industrial Trust by 294.3% in 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 acquiring an additional 114,269 shares during the last quarter. UniSuper Management Pty Ltd raised its stake in shares of LXP Industrial Trust by 127.6% during the 1st quarter. UniSuper Management Pty Ltd now owns 185,708 shares of the real estate investment trust’s stock worth $1,675,000 after purchasing an additional 104,108 shares in the last quarter. Victory Capital Management Inc. boosted its holdings in shares of LXP Industrial Trust by 5.8% in the 2nd quarter. Victory Capital Management Inc. now owns 2,941,937 shares of the real estate investment trust’s stock valued at $26,830,000 after buying an additional 160,651 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. grew its stake in shares of 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 buying an additional 2,065,667 shares in the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. increased its holdings in LXP Industrial Trust by 16.5% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,792,408 shares of the real estate investment trust’s stock worth $28,064,000 after buying an additional 395,798 shares during the last quarter. Institutional investors own 93.52% of the company’s stock.

Wall Street Analyst Weigh In

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

LXP Industrial Trust Stock Performance

LXP opened at $9.18 on Monday. 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 has a 12-month low of $8.13 and a 12-month high of $10.56. The business has a 50 day moving average of $9.75 and a 200-day moving average of $9.51. The stock has a market cap of $2.70 billion, a price-to-earnings ratio of 153.03 and a beta of 0.88.

LXP Industrial Trust Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be issued a dividend of $0.135 per share. This is an increase from LXP Industrial Trust’s previous quarterly dividend of $0.13. The ex-dividend date is Tuesday, December 31st. This represents a $0.54 annualized dividend and a yield of 5.88%. LXP Industrial Trust’s dividend payout ratio (DPR) is currently 866.81%.

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.