Alberta Investment Management Corp Buys New Stake in LXP Industrial Trust $LXP

Key Points

• Alberta Investment Management Corp purchased 338,500 shares of LXP Industrial Trust valued at approximately $18.2 million, giving it a 0.57% stake. Institutional investors collectively own 93.52% of the REIT.
• LXP shares opened at $60.56, near their 52-week high of $61.61, while the company maintains a quarterly dividend of $0.70 per share, equivalent to a 4.6% annual yield.
• Analyst sentiment is mixed: LXP has an average “Hold” rating and a consensus price target of $56.17, although BMO Capital Markets and Citigroup rate the stock “Outperform.”

Alberta Investment Management Corp purchased a new position in shares of LXP Industrial Trust (NYSE:LXP - Free Report) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 338,500 shares of the real estate investment trust's stock, valued at approximately $18,238,000. Alberta Investment Management Corp owned approximately 0.57% of LXP Industrial Trust at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of LXP. IFP Advisors Inc boosted its position in shares of LXP Industrial Trust by 63.8% in the 4th quarter. IFP Advisors Inc now owns 837 shares of the real estate investment trust's stock valued at $41,000 after purchasing an additional 326 shares during the period. EQ Wealth Advisors LLC purchased a new position in LXP Industrial Trust during the 4th quarter worth approximately $34,000. Cetera Investment Advisers increased its position in LXP Industrial Trust by 5.2% during the first quarter. Cetera Investment Advisers now owns 14,905 shares of the real estate investment trust's stock worth $689,000 after buying an additional 743 shares during the period. Pictet Asset Management Holding SA increased its position in LXP Industrial Trust by 11.6% during the first quarter. Pictet Asset Management Holding SA now owns 9,698 shares of the real estate investment trust's stock worth $449,000 after buying an additional 1,009 shares during the period. Finally, Resona Asset Management Co. Ltd. increased its position in LXP Industrial Trust by 4.7% during the first quarter. Resona Asset Management Co. Ltd. now owns 26,174 shares of the real estate investment trust's stock worth $1,213,000 after buying an additional 1,164 shares during the period. 93.52% of the stock is owned by hedge funds and other institutional investors.

LXP Industrial Trust Stock Down 0.0%

Shares of NYSE LXP opened at $60.56 on Monday. The stock has a market capitalization of $3.57 billion, a price-to-earnings ratio of 60.56 and a beta of 1.02. LXP Industrial Trust has a 52 week low of $40.57 and a 52 week high of $61.61. The firm has a 50-day moving average price of $56.98 and a 200 day moving average price of $52.17. The company has a quick ratio of 0.10, a current ratio of 0.10 and a debt-to-equity ratio of 0.19.

LXP Industrial Trust Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th were given a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 4.6%. The ex-dividend date was Tuesday, June 30th. LXP Industrial Trust's dividend payout ratio (DPR) is currently 280.00%.

Wall Street Analysts Forecast Growth

LXP has been the topic of a number of recent research reports. Raymond James Financial started coverage on shares of LXP Industrial Trust in a research note on Wednesday, June 17th. They issued a "market perform" rating on the stock. Wall Street Zen lowered LXP Industrial Trust from a "hold" rating to a "sell" rating in a report on Sunday, July 12th. BMO Capital Markets initiated coverage on LXP Industrial Trust in a research report on Thursday, July 9th. They issued an "outperform" rating and a $65.00 price target on the stock. Evercore set a $54.00 price objective on LXP Industrial Trust in a research note on Monday, June 8th. Finally, Citigroup reaffirmed an "outperform" rating on shares of LXP Industrial Trust in a research report on Thursday, July 16th. Three investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $56.17.

LXP Industrial Trust Profile

LXP Industrial Trust is a real estate investment trust that specializes in the ownership, acquisition and management of industrial properties across North America. The company's portfolio consists of warehouses, distribution centers and manufacturing facilities designed to support supply-chain and logistics operations. By focusing on long-term leasing arrangements, LXP Industrial Trust aims to provide stable income streams while delivering value to tenants through modern, well-positioned industrial space.

The firm's primary business activities include sourcing and under-writing new property investments, overseeing development and redevelopment projects, and implementing asset-management strategies to enhance the performance of its holdings.

Want to see what other hedge funds are holding LXP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for LXP Industrial Trust (NYSE:LXP - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source