LXP Industrial Trust (NYSE:LXP) Short Interest Update

Key Points

• Short interest in LXP Industrial Trust surged by 22.6% in August, reaching a total of 13,300,000 shares, which corresponds to 4.6% of the company's stock.
• Wolfe Research initiated coverage on the stock with an "outperform" rating and a price target of $10.00, indicating positive sentiment among analysts.
• LXP Industrial Trust will pay a quarterly dividend of $0.135 on October 15th, representing an annualized yield of 5.8%, despite a high dividend payout ratio of 192.86%.

LXP Industrial Trust (NYSE:LXP - Get Free Report) was the target of a large growth in short interest during the month of August. As of August 31st, there was short interest totaling 13,300,000 shares, a growth of 22.6% from the August 15th total of 10,850,000 shares. Based on an average daily volume of 3,570,000 shares, the short-interest ratio is currently 3.7 days. Currently, 4.6% of the company's shares are sold short. Currently, 4.6% of the company's shares are sold short. Based on an average daily volume of 3,570,000 shares, the short-interest ratio is currently 3.7 days.

Institutional Trading of LXP Industrial Trust

A number of institutional investors have recently made changes to their positions in LXP. Thurston Springer Miller Herd & Titak Inc. lifted its position in LXP Industrial Trust by 3,809.5% during the 2nd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 3,284 shares of the real estate investment trust's stock worth $27,000 after buying an additional 3,200 shares in the last quarter. EverSource Wealth Advisors LLC grew its stake in LXP Industrial Trust by 101.7% in the second quarter. EverSource Wealth Advisors LLC now owns 3,481 shares of the real estate investment trust's stock valued at $29,000 after purchasing an additional 1,755 shares in the last quarter. EQ Wealth Advisors LLC bought a new stake in shares of LXP Industrial Trust during the 1st quarter worth approximately $30,000. Geneos Wealth Management Inc. boosted its holdings 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 buying an additional 1,632 shares during the last quarter. Finally, GAMMA Investing LLC grew its stake in shares of LXP Industrial Trust by 50.4% in the second quarter. GAMMA Investing LLC now owns 3,866 shares of the real estate investment trust's stock valued at $32,000 after buying an additional 1,296 shares in the last quarter. Institutional investors own 93.52% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, Wolfe Research initiated coverage on LXP Industrial Trust in a report on Friday, August 22nd. They set an "outperform" rating and a $10.00 target price on the stock. Two investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to data from MarketBeat.com, LXP Industrial Trust has a consensus rating of "Moderate Buy" and a consensus price target of $10.00.

LXP Industrial Trust Stock Up 0.4%

Shares of LXP stock traded up $0.04 during trading hours on Monday, hitting $9.26. 2,815,223 shares of the company were exchanged, compared to its average volume of 3,012,797. LXP Industrial Trust has a 52 week low of $6.85 and a 52 week high of $10.29. The company has a current ratio of 0.13, a quick ratio of 0.13 and a debt-to-equity ratio of 0.18. The business has a 50 day moving average of $8.57 and a two-hundred day moving average of $8.43. The company has a market capitalization of $2.74 billion, a PE ratio of 33.07 and a beta of 1.06.

LXP Industrial Trust (NYSE:LXP - Get Free Report) last announced its earnings results on Wednesday, July 30th. The real estate investment trust reported $0.16 earnings per share for the quarter, hitting analysts' consensus estimates of $0.16. LXP Industrial Trust had a net margin of 24.07% and a return on equity of 4.34%. The firm had revenue of $86.74 million during the quarter, compared to analyst estimates of $87.25 million. During the same period in the prior year, the business earned $0.16 EPS. The company's revenue for the quarter was up 2.2% compared to the same quarter last year. LXP Industrial Trust has set its FY 2025 guidance at 0.620-0.640 EPS. Analysts anticipate that LXP Industrial Trust will post 0.63 earnings per share for the current fiscal year.

LXP Industrial Trust Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Tuesday, September 30th will be given a dividend of $0.135 per share. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $0.54 dividend on an annualized basis and a yield of 5.8%. LXP Industrial Trust's dividend payout ratio is 192.86%.

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.