Toronto Dominion Bank Reduces Equity Position in LXP Industrial Trust (NYSE:LXP)


The Toronto-Dominion Bank reduced its stake in the shares of LXP Industrial Trust (NYSE:LXPGet a rating) by 11.2% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor held 29,894 shares of the REIT after selling 3,777 shares during the period. The Toronto Dominion Bank’s holdings in LXP Industrial Trust were worth $469,000 at the end of the most recent reporting period.

Several other institutional investors have also recently changed their positions in LXP. CWM LLC purchased a new stake in shares of LXP Industrial Trust in the fourth quarter at a value of $25,000. Envestnet Asset Management Inc. raised its position in LXP Industrial Trust shares by 49.7% in the fourth quarter. Envestnet Asset Management Inc. now owns 96,178 shares of the real estate investment trust worth $1,502,000 after buying an additional 31,939 shares last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its position in shares of LXP Industrial Trust by 5.2% in the fourth quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 116,945 shares of the real estate investment trust worth $1,808,000 after purchasing an additional 5,751 shares last quarter. EverSource Wealth Advisors LLC purchased a new equity stake in LXP Industrial Trust in the fourth quarter for $27,000. Finally, abrdn plc increased its position in shares of LXP Industrial Trust by 9.1% in the fourth quarter. abrdn plc now owns 60,748 shares of the real estate investment trust worth $949,000 after buying an additional 5,050 shares in the last quarter. Hedge funds and other institutional investors own 98.07% of the company’s shares.

Insider activity

In other news from LXP Industrial Trust, Director Lawrence L. Gray purchased 2,260 shares in a trade dated Monday, May 23. The shares were purchased at an average cost of $11.13 per share, for a total transaction of $25,153.80. Following the completion of the acquisition, the director now owns 74,104 shares of the company, valued at $824,777.52. The transaction was disclosed in a legal filing with the SEC, accessible via this link. Separately, director Lawrence L. Gray acquired 2,260 shares of the company in a transaction that took place on Monday, May 23. The stock was purchased at an average price of $11.13 per share, for a total transaction of $25,153.80. Following the acquisition, the administrator now directly owns 74,104 shares of the company, valued at $824,777.52. The acquisition was disclosed in a filing with the Securities & Exchange Commission, available at this link. Additionally, director Arun Gupta acquired 9,100 shares of the company in a transaction that took place on Friday, June 10. The shares were purchased at an average price of $10.88 per share, with a total value of $99,008.00. Following the completion of the acquisition, the administrator now owns 16,865 shares of the company, valued at $183,491.20. Disclosure of this purchase can be found here. Over the past ninety days, insiders have purchased 21,360 shares of the company worth $229,162. Insiders hold 2.10% of the shares of the company.

Analyst upgrades and downgrades

A number of brokerages have recently released reports on LXP. Jefferies Financial Group lowered its price target on LXP Industrial Trust from $15.50 to $14.00 and set a “buy” rating on the stock in a research report Thursday, June 30. Evercore ISI set a price target of $13.00 on LXP Industrial Trust in a research report on Monday, June 20. StockNews.com upgraded LXP Industrial Trust from a “sell” to a “hold” rating in a Monday, July 18 research report. Finally, TheStreet downgraded LXP Industrial Trust from a “b” rating to a “c+” rating in a Thursday, May 5 research report. One financial analyst gave the stock a sell rating, two gave the company a hold rating and three gave the company a buy rating. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $14.80.

LXP Industrial Trust shares down 1.3%

Shares of NYSE:LXP opened at $11.03 on Friday. The company has a current ratio of 0.10, a quick ratio of 0.10 and a debt ratio of 0.25. The stock has a market capitalization of $3.09 billion, a P/E ratio of 10.12, a price-to-earnings growth ratio of 13.46 and a beta of 0.72. LXP Industrial Trust has a 12 month minimum of $9.98 and a 12 month maximum of $16.10. The stock’s 50-day moving average price is $10.69 and its 200-day moving average price is $12.72.

LXP Industrial Trust Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, July 15. Shareholders of record on Thursday, June 30 received a dividend of $0.12 per share. The ex-dividend date was Wednesday, June 29. This represents an annualized dividend of $0.48 and a dividend yield of 4.35%. LXP Industrial Trust’s payout ratio is 44.04%.

LXP Industrial Trust Profile

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

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Institutional ownership by quarter for LXP Industrial Trust (NYSE:LXP)



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