LXP Industrial Trust (NYSE:LXP) Short Interest Up 23.0% in November

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

Institutional Investors Weigh In On LXP Industrial Trust

A number of hedge funds have recently made changes to their positions in the stock. Geode Capital Management LLC boosted its stake 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 valued at $74,271,000 after purchasing an additional 92,409 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in LXP Industrial Trust by 4.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 5,285,807 shares of the real estate investment trust’s stock valued at $53,122,000 after buying an additional 209,718 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in 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 valued at $39,982,000 after buying 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 valued at approximately $36,683,000. Finally, Bank of New York Mellon Corp raised 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 valued at $28,296,000 after buying an additional 65,202 shares during the last quarter. 93.52% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

LXP Industrial Trust Price Performance

Shares of LXP traded up $0.05 during mid-day trading on Monday, reaching $9.40. The company had a trading volume of 734,580 shares, compared to its average volume of 2,190,209. The company’s 50 day simple moving average is $9.59 and its 200 day simple moving average is $9.56. LXP Industrial Trust has a 1-year low of $8.23 and a 1-year high of $10.56. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.12 and a current ratio of 0.12. The company has a market capitalization of $2.77 billion, a price-to-earnings ratio of 155.86 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 $0.135 dividend. This is an increase 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 5.74%. The ex-dividend date is Tuesday, December 31st. LXP Industrial Trust’s dividend payout ratio (DPR) is presently 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.