Principal Financial Group Inc. Cuts Stock Holdings in LXP Industrial Trust (NYSE:LXP)

Principal Financial Group Inc. trimmed its stake in LXP Industrial Trust (NYSE:LXP) by 4.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and 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 approximately 0.47% of LXP Industrial Trust worth $13,943,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. GAMMA Investing LLC increased its holdings in shares of LXP Industrial Trust by 81.1% in the 3rd quarter. GAMMA Investing LLC now owns 3,421 shares of the real estate investment trust’s stock worth $34,000 after buying an additional 1,532 shares during the last quarter. Vert Asset Management LLC grew its position in LXP Industrial Trust by 1.6% in the third quarter. Vert Asset Management LLC now owns 120,140 shares of the real estate investment trust’s stock worth $1,207,000 after acquiring an additional 1,874 shares in the last quarter. Arizona State Retirement System increased its stake in LXP Industrial Trust by 2.4% in the second quarter. Arizona State Retirement System now owns 82,387 shares of the real estate investment trust’s stock valued at $751,000 after acquiring an additional 1,964 shares during the last quarter. Dakota Wealth Management raised its position in LXP Industrial Trust by 21.5% during the second quarter. Dakota Wealth Management now owns 12,315 shares of the real estate investment trust’s stock valued at $112,000 after purchasing an additional 2,177 shares in the last quarter. Finally, Inspire Investing LLC lifted its stake in LXP Industrial Trust by 5.7% during the third quarter. Inspire Investing LLC now owns 40,936 shares of the real estate investment trust’s stock worth $411,000 after purchasing an additional 2,209 shares during the last quarter. 93.52% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, Evercore ISI raised their price objective on LXP Industrial Trust from $10.00 to $11.00 and gave the company an “in-line” rating in a report on Monday, September 16th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $11.25.

LXP Industrial Trust Stock Performance

LXP Industrial Trust stock opened at $9.18 on Friday. The firm has a fifty day simple moving average of $9.75 and a two-hundred day simple moving average of $9.50. The company has a quick ratio of 0.12, a current ratio of 0.12 and a debt-to-equity ratio of 0.21. LXP Industrial Trust has a twelve month low of $8.13 and a twelve month high of $10.56. The company has a market capitalization of $2.70 billion, a PE ratio of 153.00 and a beta of 0.88.

LXP Industrial Trust Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be issued a dividend of $0.135 per share. The ex-dividend date of this dividend is Tuesday, December 31st. This is a boost from LXP Industrial Trust’s previous quarterly dividend of $0.13. This represents a $0.54 annualized dividend and a yield of 5.88%. LXP Industrial Trust’s dividend payout ratio is currently 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.