Hazelview Securities Inc. Invests $12.04 Million in LXP Industrial Trust (NYSE:LXP)

Hazelview Securities Inc. bought a new stake in LXP Industrial Trust (NYSE:LXP) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 1,356,100 shares of the real estate investment trust’s stock, valued at approximately $12,042,000. LXP Industrial Trust makes up approximately 2.3% of Hazelview Securities Inc.’s investment portfolio, making the stock its 19th biggest holding. Hazelview Securities Inc. owned approximately 0.46% of LXP Industrial Trust at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. CWM LLC boosted its holdings in LXP Industrial Trust by 65.1% in the fourth quarter. CWM LLC now owns 3,298 shares of the real estate investment trust’s stock worth $33,000 after purchasing an additional 1,300 shares in the last quarter. Sherbrooke Park Advisers LLC acquired a new position in shares of LXP Industrial Trust during the 3rd quarter valued at about $90,000. Quadrant Capital Group LLC raised its stake in shares of LXP Industrial Trust by 84.0% in the 4th quarter. Quadrant Capital Group LLC now owns 9,211 shares of the real estate investment trust’s stock valued at $91,000 after acquiring an additional 4,206 shares in the last quarter. Raymond James Financial Services Advisors Inc. acquired a new stake in LXP Industrial Trust in the 4th quarter worth approximately $112,000. Finally, Oak Thistle LLC bought a new stake in LXP Industrial Trust during the fourth quarter worth approximately $124,000. 93.52% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Arun Gupta acquired 15,000 shares of LXP Industrial Trust stock in a transaction on Wednesday, June 12th. The stock was bought at an average price of $8.95 per share, for a total transaction of $134,250.00. Following the transaction, the director now owns 65,474 shares of the company’s stock, valued at $585,992.30. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. 2.17% of the stock is owned by company insiders.

LXP Industrial Trust Stock Performance

Shares of LXP Industrial Trust stock traded down $0.10 during midday trading on Wednesday, hitting $9.03. The company had a trading volume of 809,534 shares, compared to its average volume of 2,314,114. The stock has a market cap of $2.66 billion, a PE ratio of 226.31 and a beta of 0.85. LXP Industrial Trust has a 1-year low of $7.75 and a 1-year high of $10.75. The business’s 50 day simple moving average is $8.68 and its two-hundred day simple moving average is $9.01. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.27 and a quick ratio of 0.27.

LXP Industrial Trust Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Friday, June 28th will be issued a dividend of $0.13 per share. The ex-dividend date is Friday, June 28th. This represents a $0.52 annualized dividend and a dividend yield of 5.76%. LXP Industrial Trust’s payout ratio is 1,300.33%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. Jefferies Financial Group lifted their price target on shares of LXP Industrial Trust from $11.00 to $12.00 and gave the company a “buy” rating in a research report on Friday, June 7th. BNP Paribas started coverage on shares of LXP Industrial Trust in a research report on Tuesday, June 4th. They set an “outperform” rating and a $11.00 target price for the company. Finally, StockNews.com downgraded LXP Industrial Trust from a “hold” rating to a “sell” rating in a research report on Friday, May 3rd.

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.