LXP Industrial Trust (NYSE:LXP) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. lowered its position in LXP Industrial Trust (NYSE:LXP - Free Report) by 4.4% during the third quarter, according to its most recent filing with the SEC. The institutional investor 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 and hedge funds also recently added to or reduced their stakes in the company. Blue Trust Inc. lifted its stake in shares of LXP Industrial Trust by 1,596.2% in the second quarter. Blue Trust Inc. now owns 3,138 shares of the real estate investment trust's stock worth $28,000 after buying an additional 2,953 shares in the last quarter. GAMMA Investing LLC increased its position in shares of LXP Industrial Trust by 81.1% during the third quarter. GAMMA Investing LLC now owns 3,421 shares of the real estate investment trust's stock valued at $34,000 after acquiring an additional 1,532 shares during the last quarter. SageView Advisory Group LLC purchased a new stake in shares of LXP Industrial Trust in the 1st quarter valued at approximately $61,000. Sequoia Financial Advisors LLC acquired a new position in shares of LXP Industrial Trust in the 2nd quarter worth approximately $92,000. Finally, Paloma Partners Management Co purchased a new position in shares of LXP Industrial Trust during the 1st quarter worth approximately $96,000. Institutional investors and hedge funds own 93.52% of the company's stock.

LXP Industrial Trust Stock Down 0.9 %

LXP stock traded down $0.08 during midday trading on Friday, hitting $9.18. The company's stock had a trading volume of 1,356,849 shares, compared to its average volume of 2,002,530. The firm has a 50-day simple moving average of $9.75 and a 200-day simple moving average of $9.51. The firm has a market capitalization of $2.70 billion, a P/E ratio of 153.03 and a beta of 0.88. 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 52-week low of $8.13 and a 52-week 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. Investors of record on Tuesday, December 31st will be issued a $0.135 dividend. The ex-dividend date is Tuesday, December 31st. This is a positive change from LXP Industrial Trust's previous quarterly dividend of $0.13. This represents a $0.54 dividend on an annualized basis and a yield of 5.88%. LXP Industrial Trust's dividend payout ratio (DPR) is 866.81%.

Wall Street Analysts Forecast Growth

Separately, Evercore ISI boosted their target price on LXP Industrial Trust from $10.00 to $11.00 and gave the company an "in-line" rating in a research report on Monday, September 16th. 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. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $11.25.

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.