OVERSEA CHINESE BANKING Corp Ltd Acquires 297,386 Shares of LXP Industrial Trust (NYSE:LXP)

OVERSEA CHINESE BANKING Corp Ltd boosted its stake in LXP Industrial Trust (NYSE:LXP) by 1,802.2% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 313,887 shares of the real estate investment trust’s stock after purchasing an additional 297,386 shares during the period. OVERSEA CHINESE BANKING Corp Ltd owned about 0.11% of LXP Industrial Trust worth $3,155,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the stock. Long Pond Capital LP lifted its position in shares of LXP Industrial Trust by 139.3% in the 1st quarter. Long Pond Capital LP now owns 7,447,513 shares of the real estate investment trust’s stock worth $67,177,000 after purchasing an additional 4,335,751 shares during the period. Dimensional Fund Advisors LP lifted its holdings in LXP Industrial Trust by 7.2% in the second quarter. Dimensional Fund Advisors LP now owns 4,383,993 shares of the real estate investment trust’s stock valued at $39,982,000 after buying an additional 293,078 shares during the period. William Blair Investment Management LLC bought a new stake in LXP Industrial Trust during the second quarter valued at $36,683,000. Bank of New York Mellon Corp grew its holdings in LXP Industrial Trust by 2.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 3,102,610 shares of the real estate investment trust’s stock worth $28,296,000 after acquiring an additional 65,202 shares during the period. Finally, Victory Capital Management Inc. raised its position in shares of LXP Industrial Trust by 5.8% in the 2nd quarter. Victory Capital Management Inc. now owns 2,941,937 shares of the real estate investment trust’s stock worth $26,830,000 after acquiring an additional 160,651 shares in the last quarter. 93.52% of the stock is owned by institutional investors.

LXP Industrial Trust Trading Down 1.5 %

NYSE:LXP opened at $9.50 on Wednesday. LXP Industrial Trust has a 12 month low of $8.08 and a 12 month high of $10.56. The company has a current ratio of 0.12, a quick ratio of 0.12 and a debt-to-equity ratio of 0.21. The stock has a market capitalization of $2.80 billion, a price-to-earnings ratio of 158.36 and a beta of 0.88. The firm has a fifty day simple moving average of $9.82 and a two-hundred day simple moving average of $9.49.

LXP Industrial Trust Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be paid a $0.135 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This is an increase from LXP Industrial Trust’s previous quarterly dividend of $0.13. This represents a $0.54 annualized dividend and a dividend yield of 5.68%. LXP Industrial Trust’s dividend payout ratio (DPR) is currently 866.81%.

Analyst Ratings Changes

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