State of New Jersey Common Pension Fund D Has $1.94 Million Position in LXP Industrial Trust (NYSE:LXP)

State of New Jersey Common Pension Fund D reduced its stake in shares of LXP Industrial Trust (NYSE:LXP) by 13.3% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 192,580 shares of the real estate investment trust’s stock after selling 29,497 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in LXP Industrial Trust were worth $1,935,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the stock. Blue Trust Inc. grew its position in shares of LXP Industrial Trust by 1,596.2% in the 2nd quarter. Blue Trust Inc. now owns 3,138 shares of the real estate investment trust’s stock valued at $28,000 after purchasing an additional 2,953 shares during the period. GAMMA Investing LLC grew its position in shares of LXP Industrial Trust by 81.1% in the 3rd quarter. GAMMA Investing LLC now owns 3,421 shares of the real estate investment trust’s stock valued at $34,000 after purchasing an additional 1,532 shares during the period. Sequoia Financial Advisors LLC acquired a new position in shares of LXP Industrial Trust in the 2nd quarter valued at approximately $92,000. Paloma Partners Management Co acquired a new position in shares of LXP Industrial Trust in the 1st quarter valued at approximately $96,000. Finally, Caxton Associates LP acquired a new position in shares of LXP Industrial Trust in the 1st quarter valued at approximately $102,000. 93.52% of the stock is currently owned by institutional investors and hedge funds.

LXP Industrial Trust Stock Down 0.9 %

Shares of LXP stock opened at $9.18 on Monday. The firm’s fifty day moving average price is $9.75 and its two-hundred day moving average price is $9.51. The company has a current ratio of 0.12, a quick ratio of 0.12 and a debt-to-equity ratio of 0.21. LXP Industrial Trust has a 1 year low of $8.13 and a 1 year high of $10.56. The firm has a market capitalization of $2.70 billion, a P/E ratio of 153.03 and a beta of 0.88.

LXP Industrial Trust Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be given a $0.135 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $0.54 dividend on an annualized basis and a dividend yield of 5.88%. This is an increase from LXP Industrial Trust’s previous quarterly dividend of $0.13. LXP Industrial Trust’s payout ratio is currently 866.81%.

Wall Street Analyst Weigh In

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

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.