The Manufacturers Life Insurance Company Lowers Position in LXP Industrial Trust $LXP

The Manufacturers Life Insurance Company trimmed its position in shares of LXP Industrial Trust (NYSE:LXP) by 32.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 26,443 shares of the real estate investment trust’s stock after selling 12,434 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in LXP Industrial Trust were worth $1,223,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Balyasny Asset Management L.P. raised its holdings in shares of LXP Industrial Trust by 269.0% in the second quarter. Balyasny Asset Management L.P. now owns 6,432,356 shares of the real estate investment trust’s stock valued at $53,131,000 after purchasing an additional 4,688,972 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in LXP Industrial Trust by 3.5% during the third quarter. Dimensional Fund Advisors LP now owns 4,311,597 shares of the real estate investment trust’s stock worth $38,633,000 after purchasing an additional 145,951 shares during the last quarter. Goldman Sachs Group Inc. grew its position in LXP Industrial Trust by 14.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 3,717,830 shares of the real estate investment trust’s stock worth $32,159,000 after purchasing an additional 458,195 shares in the last quarter. Qube Research & Technologies Ltd grew its position in LXP Industrial Trust by 48.6% in the 3rd quarter. Qube Research & Technologies Ltd now owns 2,850,940 shares of the real estate investment trust’s stock worth $25,544,000 after purchasing an additional 932,200 shares in the last quarter. Finally, UBS Group AG increased its stake in LXP Industrial Trust by 59.2% in the 3rd quarter. UBS Group AG now owns 2,452,515 shares of the real estate investment trust’s stock valued at $21,975,000 after buying an additional 911,566 shares during the last quarter. Institutional investors own 93.52% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on LXP shares. Citigroup restated an “outperform” rating on shares of LXP Industrial Trust in a research note on Thursday, July 16th. Jefferies Financial Group downgraded LXP Industrial Trust from a “buy” rating to a “hold” rating and decreased their price target for the company from $62.00 to $61.00 in a research report on Thursday, August 6th. Raymond James Financial started coverage on LXP Industrial Trust in a report on Wednesday, June 17th. They set a “market perform” rating on the stock. Wall Street Zen cut LXP Industrial Trust from a “hold” rating to a “sell” rating in a research report on Sunday, July 12th. Finally, Citizens Jmp downgraded LXP Industrial Trust from a “market outperform” rating to a “hold” rating in a research note on Tuesday, July 21st. Three investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $56.17.

LXP Industrial Trust Price Performance

Shares of NYSE LXP opened at $60.67 on Wednesday. The stock has a fifty day simple moving average of $56.42 and a two-hundred day simple moving average of $51.93. LXP Industrial Trust has a 1-year low of $39.95 and a 1-year high of $61.61. The firm has a market cap of $3.58 billion, a price-to-earnings ratio of 60.67 and a beta of 1.02. The company has a current ratio of 0.10, a quick ratio of 0.10 and a debt-to-equity ratio of 0.19.

LXP Industrial Trust Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th were paid a dividend of $0.70 per share. The ex-dividend date was Tuesday, June 30th. This represents a $2.80 annualized dividend and a dividend yield of 4.6%. LXP Industrial Trust’s dividend payout ratio is presently 280.00%.

LXP Industrial Trust Profile

LXP Industrial Trust is a real estate investment trust that specializes in the ownership, acquisition and management of industrial properties across North America. The company’s portfolio consists of warehouses, distribution centers and manufacturing facilities designed to support supply-chain and logistics operations. By focusing on long-term leasing arrangements, LXP Industrial Trust aims to provide stable income streams while delivering value to tenants through modern, well-positioned industrial space.

The firm’s primary business activities include sourcing and under-writing new property investments, overseeing development and redevelopment projects, and implementing asset-management strategies to enhance the performance of its holdings.