Principal Financial Group Inc. Lowers Stake in LXP Industrial Trust (NYSE:LXP)

Principal Financial Group Inc. cut its stake in LXP Industrial Trust (NYSE:LXP) by 4.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,451,432 shares of the real estate investment trust’s stock after selling 67,468 shares during the quarter. Principal Financial Group Inc.’s holdings in LXP Industrial Trust were worth $13,237,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the stock. CWM LLC grew its stake in LXP Industrial Trust by 65.1% in the fourth quarter. CWM LLC now owns 3,298 shares of the real estate investment trust’s stock valued at $33,000 after purchasing an additional 1,300 shares during the last quarter. New York State Common Retirement Fund grew its position in shares of LXP Industrial Trust by 5.0% in the 4th quarter. New York State Common Retirement Fund now owns 119,240 shares of the real estate investment trust’s stock worth $1,183,000 after buying an additional 5,670 shares during the last quarter. Van ECK Associates Corp raised its stake in shares of LXP Industrial Trust by 19.7% during the 4th quarter. Van ECK Associates Corp now owns 40,614 shares of the real estate investment trust’s stock worth $403,000 after acquiring an additional 6,678 shares in the last quarter. Metis Global Partners LLC lifted its position in LXP Industrial Trust by 12.5% during the fourth quarter. Metis Global Partners LLC now owns 19,311 shares of the real estate investment trust’s stock valued at $192,000 after acquiring an additional 2,149 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in LXP Industrial Trust by 4.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 4,803,218 shares of the real estate investment trust’s stock valued at $47,648,000 after acquiring an additional 199,736 shares in the last quarter. 93.52% of the stock is owned by institutional investors.

Analyst Ratings Changes

LXP has been the topic of several research analyst reports. Jefferies Financial Group boosted their target price on LXP Industrial Trust from $11.00 to $12.00 and gave the stock a “buy” rating in a research note on Friday, June 7th. Evercore ISI upped their price objective on shares of LXP Industrial Trust from $9.00 to $10.00 and gave the company an “in-line” rating in a report on Wednesday, August 28th. Finally, BNP Paribas initiated coverage on shares of LXP Industrial Trust in a research note on Tuesday, June 4th. They issued an “outperform” rating and a $11.00 target price for the company. One analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $11.00.

LXP Industrial Trust Trading Down 1.2 %

NYSE LXP opened at $10.20 on Friday. The company has a market capitalization of $3.00 billion, a PE ratio of 254.50 and a beta of 0.86. The company has a fifty day moving average of $9.89 and a 200 day moving average of $9.17. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.11 and a quick ratio of 0.11. LXP Industrial Trust has a 1 year low of $7.75 and a 1 year high of $10.56.

LXP Industrial Trust Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, July 15th. Investors of record on Friday, June 28th were paid a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a yield of 5.10%. The ex-dividend date was Friday, June 28th. LXP Industrial Trust’s dividend payout ratio is presently 1,300.00%.

Insider Transactions at LXP Industrial Trust

In other news, Director Arun Gupta acquired 15,000 shares of the firm’s stock in a transaction on Wednesday, June 12th. The shares were bought at an average price of $8.95 per share, for a total transaction of $134,250.00. Following the acquisition, the director now owns 65,474 shares of the company’s stock, valued at approximately $585,992.30. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 2.17% of the company’s stock.

LXP Industrial Trust Profile

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.