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

LXP Industrial Trust (NYSE:LXP) was the target of a significant increase in short interest in 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 volume of 1,990,000 shares, the days-to-cover ratio is currently 2.6 days.

LXP Industrial Trust Stock Performance

NYSE LXP traded up $0.05 on Monday, hitting $9.40. 734,580 shares of the stock were exchanged, compared to its average volume of 2,190,209. The company has a market capitalization of $2.77 billion, a PE ratio of 155.86 and a beta of 0.88. The business’s fifty day moving average is $9.59 and its 200 day moving average is $9.56. LXP Industrial Trust has a 52 week low of $8.23 and a 52 week high of $10.56. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.12 and a quick ratio of 0.12.

LXP Industrial Trust Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be given 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 annualized dividend and a dividend yield of 5.74%. LXP Industrial Trust’s dividend payout ratio is presently 866.81%.

Analyst Upgrades and Downgrades

Separately, Evercore ISI upped their price target on shares of 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 equities 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 stock. According to data from MarketBeat.com, LXP Industrial Trust currently has a consensus rating of “Hold” and an average price target of $11.25.

Hedge Funds Weigh In On LXP Industrial Trust

Several large investors have recently modified their holdings of the stock. Nomura Asset Management Co. Ltd. raised its position in shares of LXP Industrial Trust by 0.3% in the third quarter. Nomura Asset Management Co. Ltd. now owns 366,100 shares of the real estate investment trust’s stock valued at $3,679,000 after purchasing an additional 1,100 shares during the period. HighTower Advisors LLC raised its position in shares of LXP Industrial Trust by 2.6% in the third quarter. HighTower Advisors LLC now owns 52,755 shares of the real estate investment trust’s stock valued at $530,000 after purchasing an additional 1,333 shares during the period. GAMMA Investing LLC grew its stake in shares of LXP Industrial Trust by 81.1% in the third quarter. GAMMA Investing LLC now owns 3,421 shares of the real estate investment trust’s stock valued at $34,000 after acquiring an additional 1,532 shares in the last quarter. Vert Asset Management LLC grew its stake in shares of LXP Industrial Trust by 1.6% in the third quarter. Vert Asset Management LLC now owns 120,140 shares of the real estate investment trust’s stock valued at $1,207,000 after acquiring an additional 1,874 shares in the last quarter. Finally, Arizona State Retirement System grew its stake in shares of LXP Industrial Trust by 2.4% in the second quarter. Arizona State Retirement System now owns 82,387 shares of the real estate investment trust’s stock valued at $751,000 after acquiring an additional 1,964 shares in the last quarter. 93.52% of the stock is owned by institutional investors.

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.