Principal Financial Group Inc. trimmed its position in shares of LXP Industrial Trust (NYSE:LXP – Free Report) by 4.4% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 1,387,366 shares of the real estate investment trust’s stock after selling 64,066 shares during the quarter. Principal Financial Group Inc.’s holdings in LXP Industrial Trust were worth $13,943,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Blue Trust Inc. increased its holdings in LXP Industrial Trust by 1,596.2% during the 2nd quarter. Blue Trust Inc. now owns 3,138 shares of the real estate investment trust’s stock valued at $28,000 after purchasing an additional 2,953 shares during the period. GAMMA Investing LLC grew its position 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. SageView Advisory Group LLC bought a new stake in shares of LXP Industrial Trust in the 1st quarter worth approximately $61,000. Sequoia Financial Advisors LLC purchased a new position in shares of LXP Industrial Trust during the second quarter valued at approximately $92,000. Finally, Paloma Partners Management Co bought a new position in shares of LXP Industrial Trust during the first quarter valued at approximately $96,000. 93.52% of the stock is owned by institutional investors.
LXP Industrial Trust Stock Down 0.9 %
LXP stock opened at $9.18 on Friday. LXP Industrial Trust has a fifty-two week low of $8.13 and a fifty-two week high of $10.56. The company has a market capitalization of $2.70 billion, a price-to-earnings ratio of 153.00 and a beta of 0.88. The business’s 50 day moving average price is $9.75 and its two-hundred day moving average price is $9.50. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.12 and a current ratio of 0.12.
LXP Industrial Trust Increases Dividend
The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be paid a $0.135 dividend. This represents a $0.54 annualized dividend and a yield of 5.88%. This is a boost from LXP Industrial Trust’s previous quarterly dividend of $0.13. The ex-dividend date is Tuesday, December 31st. LXP Industrial Trust’s dividend payout ratio is presently 900.00%.
Analysts Set New Price Targets
Separately, Evercore ISI boosted their price objective on shares of 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 investment analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, LXP Industrial Trust has an average rating of “Hold” and an average target price of $11.25.
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About LXP Industrial Trust
(Free Report)
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.
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