Prudential Financial Inc. Sells 3,985,137 Shares of LXP Industrial Trust (NYSE:LXP)

Prudential Financial Inc. decreased its holdings in shares of LXP Industrial Trust (NYSE:LXP) by 76.1% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,251,989 shares of the real estate investment trust’s stock after selling 3,985,137 shares during the quarter. Prudential Financial Inc.’s holdings in LXP Industrial Trust were worth $10,166,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in LXP. Charles Schwab Investment Management Inc. grew its stake in LXP Industrial Trust by 4.1% in the third 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 purchasing an additional 209,718 shares in the last quarter. Citigroup Inc. grew its stake in shares of LXP Industrial Trust by 5.6% in the third quarter. Citigroup Inc. now owns 391,995 shares of the real estate investment trust’s stock valued at $3,940,000 after buying an additional 20,753 shares in the last quarter. BNP Paribas Financial Markets increased its holdings in LXP Industrial Trust by 44.4% during the third quarter. BNP Paribas Financial Markets now owns 199,612 shares of the real estate investment trust’s stock worth $2,006,000 after buying an additional 61,387 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in LXP Industrial Trust by 2.4% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 136,052 shares of the real estate investment trust’s stock worth $1,367,000 after acquiring an additional 3,161 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in LXP Industrial Trust by 340.6% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,213,117 shares of the real estate investment trust’s stock valued at $22,242,000 after acquiring an additional 1,710,867 shares during the last quarter. Institutional investors own 93.52% of the company’s stock.

Analyst Ratings Changes

Separately, JMP Securities reiterated a “market perform” rating on shares of LXP Industrial Trust in a report on Friday, February 14th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $11.33.

LXP Industrial Trust Stock Performance

Shares of LXP Industrial Trust stock opened at $8.75 on Friday. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 0.21. The company has a market cap of $2.59 billion, a PE ratio of 67.27 and a beta of 0.89. The company has a 50 day moving average of $8.69 and a 200-day moving average of $9.04. LXP Industrial Trust has a 1-year low of $7.65 and a 1-year high of $10.57.

LXP Industrial Trust (NYSE:LXP) last issued its earnings results on Thursday, February 13th. The real estate investment trust reported $0.16 EPS for the quarter, topping the consensus estimate of ($0.02) by $0.18. The firm had revenue of $100.85 million during the quarter, compared to the consensus estimate of $84.57 million. LXP Industrial Trust had a return on equity of 2.15% and a net margin of 12.40%. As a group, equities research analysts forecast that LXP Industrial Trust will post 0.63 earnings per share for the current fiscal year.

LXP Industrial Trust Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be given a dividend of $0.135 per share. The ex-dividend date is Monday, March 31st. This represents a $0.54 annualized dividend and a yield of 6.17%. LXP Industrial Trust’s dividend payout ratio is presently 415.38%.

About LXP Industrial Trust

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.