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

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

Analyst Ratings Changes

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

LXP Industrial Trust Stock Performance

Shares of NYSE:LXP traded up $0.08 on Monday, hitting $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. The stock’s 50 day moving average price is $9.57 and its 200 day moving average price is $9.56. LXP Industrial Trust has a 1-year low of $8.23 and a 1-year high of $10.56. The firm has a market capitalization of $2.78 billion, a P/E ratio of 157.19 and a beta of 0.88.

LXP Industrial Trust Increases Dividend

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

Institutional Investors Weigh In On LXP Industrial Trust

A number of institutional investors and hedge funds have recently modified their holdings of the company. Price T Rowe Associates Inc. MD increased 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 worth $1,508,000 after buying an additional 10,594 shares during the period. SG Americas Securities LLC boosted its holdings in 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 purchasing an additional 114,269 shares during the last quarter. Sequoia Financial Advisors LLC purchased a new position in shares of LXP Industrial Trust during the 2nd quarter valued at about $92,000. Diversified Trust Co lifted its holdings in shares of LXP Industrial Trust by 199.1% in the 2nd quarter. Diversified Trust Co now owns 36,792 shares of the real estate investment trust’s stock valued at $336,000 after buying an additional 24,492 shares during the period. Finally, AlphaMark Advisors LLC lifted its holdings in shares of LXP Industrial Trust by 18.3% in the 2nd quarter. AlphaMark Advisors LLC now owns 36,316 shares of the real estate investment trust’s stock valued at $331,000 after buying an additional 5,621 shares during the period. Institutional investors and hedge funds 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.