Renaissance Technologies LLC Sells 101,600 Shares of LXP Industrial Trust $LXP

Key Points

• Renaissance Technologies cut its LXP Industrial Trust position by 38.7%, selling 101,600 shares and retaining 160,976 shares worth approximately $7.45 million. Institutional investors collectively own 93.52% of the REIT.
• Analyst sentiment remains mixed, with three Buy ratings and six Holds; LXP has an average rating of Hold and an average price target of $55.20, below its reported $60.49 share price.
• LXP announced a quarterly dividend of $0.70 per share, equal to $2.80 annually and a 4.6% yield; its dividend payout ratio is 280%.

Renaissance Technologies LLC lowered its holdings in shares of LXP Industrial Trust (NYSE:LXP - Free Report) by 38.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 160,976 shares of the real estate investment trust's stock after selling 101,600 shares during the quarter. Renaissance Technologies LLC owned about 0.27% of LXP Industrial Trust worth $7,447,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently bought and sold shares of the business. Caitong International Asset Management Co. Ltd bought a new position in LXP Industrial Trust during the third quarter valued at about $26,000. EverSource Wealth Advisors LLC increased its holdings in shares of LXP Industrial Trust by 101.7% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 3,481 shares of the real estate investment trust's stock valued at $29,000 after acquiring an additional 1,755 shares during the last quarter. Geneos Wealth Management Inc. raised its stake in shares of LXP Industrial Trust by 82.0% in the 2nd quarter. Geneos Wealth Management Inc. now owns 3,623 shares of the real estate investment trust's stock valued at $30,000 after acquiring an additional 1,632 shares in the last quarter. EQ Wealth Advisors LLC bought a new position in shares of LXP Industrial Trust in the 4th quarter valued at approximately $34,000. Finally, IFP Advisors Inc lifted its holdings in 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 worth $41,000 after purchasing an additional 326 shares during the last quarter. 93.52% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

LXP has been the topic of several analyst reports. Weiss Ratings upgraded LXP Industrial Trust from a "hold (c)" rating to a "hold (c+)" rating in a report on Monday, June 15th. Citigroup restated an "outperform" rating on shares of LXP Industrial Trust in a research note on Thursday, July 16th. Wall Street Zen downgraded shares of LXP Industrial Trust from a "hold" rating to a "sell" rating in a report on Sunday, July 12th. Citizens Jmp downgraded shares of LXP Industrial Trust from a "market outperform" rating to a "hold" rating in a report on Tuesday, July 21st. Finally, BMO Capital Markets initiated coverage on shares of LXP Industrial Trust in a research report on Thursday, July 9th. They set an "outperform" rating and a $65.00 target price for the company. Three analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat, LXP Industrial Trust currently has an average rating of "Hold" and an average target price of $55.20.

LXP Industrial Trust Stock Performance

LXP opened at $60.49 on Tuesday. The stock's 50 day simple moving average is $55.35 and its 200-day simple moving average is $51.51. The company has a current ratio of 0.10, a quick ratio of 0.10 and a debt-to-equity ratio of 0.19. The stock has a market cap of $3.57 billion, a PE ratio of 60.49 and a beta of 1.04. LXP Industrial Trust has a 1 year low of $38.85 and a 1 year high of $61.61.

LXP Industrial Trust Dividend Announcement

The company also recently announced 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. The ex-dividend date was Tuesday, June 30th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 4.6%. LXP Industrial Trust's dividend payout ratio (DPR) is 280.00%.

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.

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