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

Principal Financial Group Inc. boosted its holdings in LXP Industrial Trust (NYSE:LXP) by 3.1% in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,472,285 shares of the real estate investment trust’s stock after buying an additional 44,233 shares during the quarter. Principal Financial Group Inc. owned 0.50% of LXP Industrial Trust worth $12,735,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. EQ Wealth Advisors LLC purchased a new position in LXP Industrial Trust in the 1st quarter worth about $30,000. GF Fund Management CO. LTD. purchased a new stake in shares of LXP Industrial Trust during the 4th quarter valued at about $43,000. Sterling Capital Management LLC increased its position in shares of LXP Industrial Trust by 805.0% during the 4th quarter. Sterling Capital Management LLC now owns 9,159 shares of the real estate investment trust’s stock valued at $74,000 after purchasing an additional 8,147 shares during the last quarter. Wealthfront Advisers LLC purchased a new stake in shares of LXP Industrial Trust during the 4th quarter valued at about $80,000. Finally, Townsquare Capital LLC purchased a new stake in shares of LXP Industrial Trust during the 4th quarter valued at about $82,000. Hedge funds and other institutional investors own 93.52% of the company’s stock.

LXP Industrial Trust Trading Up 0.9%

LXP Industrial Trust stock opened at $8.59 on Friday. The firm has a 50 day moving average of $8.44 and a 200 day moving average of $8.37. The firm has a market capitalization of $2.54 billion, a price-to-earnings ratio of 42.95 and a beta of 1.03. LXP Industrial Trust has a 12-month low of $6.85 and a 12-month high of $10.57. The company has a current ratio of 0.13, a quick ratio of 0.13 and a debt-to-equity ratio of 0.19.

LXP Industrial Trust (NYSE:LXP) last released its earnings results on Thursday, May 1st. The real estate investment trust reported $0.16 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.16. The company had revenue of $87.89 million during the quarter, compared to analyst estimates of $84.72 million. LXP Industrial Trust had a net margin of 17.63% and a return on equity of 3.13%. The firm’s quarterly revenue was up 3.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.16 EPS. As a group, research analysts predict that LXP Industrial Trust will post 0.63 earnings per share for the current year.

LXP Industrial Trust Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Monday, June 30th will be issued a $0.135 dividend. This represents a $0.54 annualized dividend and a yield of 6.29%. The ex-dividend date is Monday, June 30th. LXP Industrial Trust’s dividend payout ratio is 270.00%.

Wall Street Analyst Weigh In

Several research firms have recently commented on LXP. KeyCorp reduced their price target on shares of LXP Industrial Trust from $11.00 to $10.00 and set an “overweight” rating for the company in a research report on Friday, May 2nd. JMP Securities reaffirmed a “market perform” rating on shares of LXP Industrial Trust in a research report on Monday, May 5th.

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.