Pictet Asset Management SA Has $1.24 Million Stock Position in LXP Industrial Trust (NYSE:LXP)

Pictet Asset Management SA increased its position in shares of LXP Industrial Trust (NYSE:LXPGet Rating) by 4.8% during the second quarter, Holdings Channel reports. The institutional investor owned 115,152 shares of the real estate investment trust’s stock after purchasing an additional 5,301 shares during the period. Pictet Asset Management SA’s holdings in LXP Industrial Trust were worth $1,237,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in LXP. Fifth Third Bancorp raised its stake in shares of LXP Industrial Trust by 198.6% in the second quarter. Fifth Third Bancorp now owns 2,293 shares of the real estate investment trust’s stock worth $25,000 after purchasing an additional 1,525 shares during the last quarter. Total Clarity Wealth Management Inc. purchased a new stake in shares of LXP Industrial Trust in the second quarter worth approximately $58,000. EverSource Wealth Advisors LLC raised its stake in shares of LXP Industrial Trust by 336.5% in the second quarter. EverSource Wealth Advisors LLC now owns 7,530 shares of the real estate investment trust’s stock worth $81,000 after purchasing an additional 5,805 shares during the last quarter. Sage Rhino Capital LLC purchased a new stake in shares of LXP Industrial Trust in the second quarter worth approximately $124,000. Finally, Xponance Inc. raised its stake in shares of LXP Industrial Trust by 15.3% in the second quarter. Xponance Inc. now owns 15,332 shares of the real estate investment trust’s stock worth $165,000 after purchasing an additional 2,034 shares during the last quarter. 98.29% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, StockNews.com initiated coverage on LXP Industrial Trust in a research note on Wednesday, October 12th. They issued a “hold” rating for the company.

LXP Industrial Trust Stock Performance

LXP stock opened at $10.32 on Wednesday. The firm has a market cap of $2.85 billion, a PE ratio of 8.97, a P/E/G ratio of 15.58 and a beta of 0.74. The company has a quick ratio of 0.09, a current ratio of 0.09 and a debt-to-equity ratio of 0.26. The business has a 50 day moving average of $9.65 and a 200-day moving average of $10.40. LXP Industrial Trust has a 12-month low of $8.81 and a 12-month high of $16.10.

LXP Industrial Trust Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 17th. Stockholders of record on Friday, December 30th will be issued a $0.125 dividend. The ex-dividend date is Thursday, December 29th. This is a positive change from LXP Industrial Trust’s previous quarterly dividend of $0.12. This represents a $0.50 annualized dividend and a dividend yield of 4.84%. LXP Industrial Trust’s dividend payout ratio is currently 41.74%.

LXP Industrial Trust Profile

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Lexington Realty Trust (NYSE: LXP) is a publicly traded real estate investment trust (REIT) that owns a portfolio of real estate assets consisting primarily of equity investments in single-tenant net-leased industrial properties across the United States. Lexington seeks to expand its industrial portfolio through build-to-suit transactions, sale-leaseback transactions and other transactions, including acquisitions.

See Also

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Institutional Ownership by Quarter for LXP Industrial Trust (NYSE:LXP)

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