Principal Financial Group Inc. Has $13.94 Million Stock Position in LXP Industrial Trust (NYSE:LXP)

Principal Financial Group Inc. cut its stake in shares of LXP Industrial Trust (NYSE:LXP) by 4.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,387,366 shares of the real estate investment trust’s stock after selling 64,066 shares during the period. Principal Financial Group Inc. owned 0.47% of LXP Industrial Trust worth $13,943,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. William Blair Investment Management LLC acquired a new stake in LXP Industrial Trust during the 2nd quarter worth approximately $36,683,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of LXP Industrial Trust by 340.6% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,213,117 shares of the real estate investment trust’s stock valued at $22,242,000 after acquiring an additional 1,710,867 shares during the period. Millennium Management LLC boosted its position in shares of LXP Industrial Trust by 173.9% in the second quarter. Millennium Management LLC now owns 1,861,986 shares of the real estate investment trust’s stock valued at $16,981,000 after acquiring an additional 1,182,258 shares during the period. Marshall Wace LLP grew its stake in shares of LXP Industrial Trust by 106.5% in the second quarter. Marshall Wace LLP now owns 1,047,245 shares of the real estate investment trust’s stock valued at $9,551,000 after acquiring an additional 540,045 shares in the last quarter. Finally, Lighthouse Investment Partners LLC raised its stake in LXP Industrial Trust by 59.6% in the 2nd quarter. Lighthouse Investment Partners LLC now owns 1,205,000 shares of the real estate investment trust’s stock worth $10,990,000 after purchasing an additional 450,000 shares in the last quarter. Institutional investors own 93.52% of the company’s stock.

Analyst Ratings Changes

LXP has been the topic of a number of analyst reports. Evercore ISI increased their target price on shares of LXP Industrial Trust from $10.00 to $11.00 and gave the stock an “in-line” rating in a research report on Monday, September 16th. JMP Securities restated a “market perform” rating on shares of LXP Industrial Trust in a research note on Friday, December 20th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $11.33.

LXP Industrial Trust Price Performance

Shares of NYSE:LXP opened at $8.22 on Friday. The firm has a 50 day moving average of $9.17 and a 200-day moving average of $9.58. The stock has a market capitalization of $2.42 billion, a PE ratio of 137.02 and a beta of 0.86. The company has a current ratio of 0.12, a quick ratio of 0.12 and a debt-to-equity ratio of 0.21. LXP Industrial Trust has a 12 month low of $8.08 and a 12 month high of $10.56.

LXP Industrial Trust Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be issued a $0.135 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $0.54 dividend on an annualized basis and a dividend yield of 6.57%. This is a boost from LXP Industrial Trust’s previous quarterly dividend of $0.13. LXP Industrial Trust’s dividend payout ratio is 900.00%.

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.