Principal Financial Group Inc. Sells 38,235 Shares of LXP Industrial Trust $LXP

Principal Financial Group Inc. trimmed its holdings in shares of LXP Industrial Trust (NYSE:LXP) by 2.6% in the third quarter, HoldingsChannel reports. The firm owned 1,427,952 shares of the real estate investment trust’s stock after selling 38,235 shares during the period. Principal Financial Group Inc.’s holdings in LXP Industrial Trust were worth $12,794,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Norges Bank acquired a new position in shares of LXP Industrial Trust during the second quarter worth approximately $58,163,000. Balyasny Asset Management L.P. increased its position in LXP Industrial Trust by 269.0% in the second quarter. Balyasny Asset Management L.P. now owns 6,432,356 shares of the real estate investment trust’s stock worth $53,131,000 after purchasing an additional 4,688,972 shares during the period. Lasalle Investment Management Securities LLC raised its holdings in LXP Industrial Trust by 44.4% during the 2nd quarter. Lasalle Investment Management Securities LLC now owns 9,177,887 shares of the real estate investment trust’s stock worth $75,809,000 after purchasing an additional 2,822,835 shares during the last quarter. Qube Research & Technologies Ltd lifted its position in LXP Industrial Trust by 359.3% during the 2nd quarter. Qube Research & Technologies Ltd now owns 1,918,740 shares of the real estate investment trust’s stock valued at $15,849,000 after purchasing an additional 1,501,010 shares during the period. Finally, DigitalBridge Group Inc. acquired a new position in LXP Industrial Trust during the 2nd quarter valued at about $8,631,000. 93.52% of the stock is owned by institutional investors.

LXP Industrial Trust Stock Up 0.6%

Shares of NYSE:LXP opened at $51.61 on Wednesday. The company has a 50 day moving average price of $50.01 and a two-hundred day moving average price of $46.67. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.26 and a current ratio of 0.26. The company has a market capitalization of $3.05 billion, a PE ratio of 27.16 and a beta of 1.10. LXP Industrial Trust has a 52 week low of $44.17 and a 52 week high of $97.90.

Analyst Ratings Changes

LXP has been the subject of several analyst reports. Citizens Jmp upgraded shares of LXP Industrial Trust from a “market perform” rating to an “outperform” rating and set a $57.50 price target for the company in a research report on Tuesday, October 28th. KeyCorp cut shares of LXP Industrial Trust from an “overweight” rating to a “sector weight” rating in a research note on Thursday, December 4th. JMP Securities set a $57.50 target price on shares of LXP Industrial Trust and gave the company a “market outperform” rating in a research report on Tuesday, October 28th. Citigroup upgraded LXP Industrial Trust to an “outperform” rating in a research report on Tuesday, October 28th. Finally, Weiss Ratings cut LXP Industrial Trust from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Monday, January 12th. Four equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $54.00.

LXP Industrial Trust Profile

LXP Industrial Trust is a real estate investment trust that specializes in the ownership, acquisition and management of industrial properties across North America. The company’s portfolio consists of warehouses, distribution centers and manufacturing facilities designed to support supply-chain and logistics operations. By focusing on long-term leasing arrangements, LXP Industrial Trust aims to provide stable income streams while delivering value to tenants through modern, well-positioned industrial space.

The firm’s primary business activities include sourcing and under-writing new property investments, overseeing development and redevelopment projects, and implementing asset-management strategies to enhance the performance of its holdings.