LXP Industrial Trust to Issue Quarterly Dividend of $0.13 (NYSE:LXP)

LXP Industrial Trust (NYSE:LXP) announced a quarterly dividend on Monday, September 16th, NASDAQ reports. Shareholders of record on Monday, September 30th will be paid a dividend of 0.13 per share by the real estate investment trust on Tuesday, October 15th. This represents a $0.52 dividend on an annualized basis and a yield of 5.09%. The ex-dividend date of this dividend is Monday, September 30th.

LXP Industrial Trust has increased its dividend by an average of 6.1% per year over the last three years. LXP Industrial Trust has a payout ratio of -5,200.0% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities 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 Price Performance

Shares of NYSE LXP traded up $0.06 during mid-day trading on Monday, reaching $10.22. The company’s stock had a trading volume of 3,470,149 shares, compared to its average volume of 2,271,836. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.11 and a quick ratio of 0.11. LXP Industrial Trust has a 52 week low of $7.75 and a 52 week high of $10.56. The stock has a fifty day moving average of $10.00 and a two-hundred day moving average of $9.24. The firm has a market capitalization of $3.01 billion, a PE ratio of 255.00 and a beta of 0.87.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. Evercore ISI increased 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 report on Monday. Jefferies Financial Group lifted their price target on shares of LXP Industrial Trust from $11.00 to $12.00 and gave the company a “buy” rating in a report on Friday, June 7th. Finally, BNP Paribas began coverage on shares of LXP Industrial Trust in a research note on Tuesday, June 4th. They issued an “outperform” rating and a $11.00 price target on the stock. One analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, LXP Industrial Trust presently has a consensus rating of “Hold” and an average price target 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.