LXP Industrial Trust (NYSE:LXP) to Issue Quarterly Dividend of $0.14

LXP Industrial Trust (NYSE:LXP) declared a quarterly dividend on Wednesday, November 6th, Zacks reports. Shareholders of record on Tuesday, December 31st will be given a dividend of 0.135 per share by the real estate investment trust on Wednesday, January 15th. This represents a $0.54 dividend on an annualized basis and a yield of 5.55%. The ex-dividend date of this dividend is Tuesday, December 31st. This is a positive change from LXP Industrial Trust’s previous quarterly dividend of $0.13.

LXP Industrial Trust has raised its dividend payment by an average of 6.1% annually over the last three years. LXP Industrial Trust has a dividend payout ratio of -2,600.0% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect LXP Industrial Trust to earn $0.66 per share next year, which means the company should continue to be able to cover its $0.52 annual dividend with an expected future payout ratio of 78.8%.

LXP Industrial Trust Trading Up 4.7 %

Shares of LXP traded up $0.44 during trading hours on Thursday, reaching $9.73. 5,310,882 shares of the company traded hands, compared to its average volume of 1,666,289. The firm has a market cap of $2.86 billion, a price-to-earnings ratio of 121.64 and a beta of 0.88. LXP Industrial Trust has a 12-month low of $8.08 and a 12-month high of $10.56. The company has a current ratio of 0.11, a quick ratio of 0.11 and a debt-to-equity ratio of 0.21. The stock’s fifty day moving average price is $9.86 and its 200 day moving average price is $9.46.

Wall Street Analysts Forecast Growth

Separately, Evercore ISI boosted their target price on shares of LXP Industrial Trust from $10.00 to $11.00 and gave the company an “in-line” rating in a research note on Monday, September 16th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $11.25.

LXP Industrial Trust Company 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.