Gold Investment Management Ltd. Sells 51,531 Shares of LXP Industrial Trust (NYSE:LXP)

Gold Investment Management Ltd. trimmed its holdings in shares of LXP Industrial Trust (NYSE:LXP) by 90.4% during the third quarter, HoldingsChannel reports. The fund owned 5,474 shares of the real estate investment trust’s stock after selling 51,531 shares during the quarter. Gold Investment Management Ltd.’s holdings in LXP Industrial Trust were worth $55,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of LXP. Long Pond Capital LP lifted its position in shares of LXP Industrial Trust by 139.3% during the 1st quarter. Long Pond Capital LP now owns 7,447,513 shares of the real estate investment trust’s stock worth $67,177,000 after buying an additional 4,335,751 shares in the last quarter. Dimensional Fund Advisors LP grew its position in LXP Industrial Trust by 7.2% during 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 acquiring an additional 293,078 shares during the last quarter. William Blair Investment Management LLC purchased a new position in shares of LXP Industrial Trust in the second quarter valued at about $36,683,000. Bank of New York Mellon Corp lifted its holdings in LXP Industrial Trust by 2.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 3,102,610 shares of the real estate investment trust’s stock worth $28,296,000 after buying an additional 65,202 shares during the period. Finally, Victory Capital Management Inc. increased its position in LXP Industrial Trust by 5.8% during 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 in the last quarter. Institutional investors and hedge funds own 93.52% of the company’s stock.

Analysts Set New Price Targets

Separately, Evercore ISI increased 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 analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $11.25.

LXP Industrial Trust Price Performance

Shares of LXP Industrial Trust stock traded up $0.04 during trading hours on Friday, reaching $9.62. The stock had a trading volume of 41,100 shares, compared to its average volume of 2,213,743. The stock’s 50 day moving average is $9.85 and its 200 day moving average is $9.47. The firm has a market capitalization of $2.83 billion, a PE ratio of 119.76 and a beta of 0.88. The company has a current ratio of 0.11, a quick ratio of 0.11 and a debt-to-equity ratio of 0.21. LXP Industrial Trust has a twelve month low of $8.08 and a twelve month high of $10.56.

LXP Industrial Trust Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be given a dividend of $0.135 per share. This represents a $0.54 annualized dividend and a dividend yield of 5.61%. The ex-dividend date of this dividend 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 currently 650.08%.

LXP Industrial Trust 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.