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

LXP Industrial Trust (NYSE:LXP) declared a quarterly dividend on Monday, March 17th, RTT News reports. Shareholders of record on Monday, March 31st will be paid a dividend of 0.135 per share by the real estate investment trust on Tuesday, April 15th. This represents a $0.54 annualized dividend and a yield of 5.88%.

LXP Industrial Trust has raised its dividend by an average of 7.7% per year over the last three years. LXP Industrial Trust has a payout ratio of 1,350.0% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect LXP Industrial Trust to earn $0.73 per share next year, which means the company should continue to be able to cover its $0.54 annual dividend with an expected future payout ratio of 74.0%.

LXP Industrial Trust Price Performance

Shares of LXP stock opened at $9.19 on Tuesday. The firm has a market cap of $2.72 billion, a P/E ratio of 70.66 and a beta of 0.89. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.16 and a quick ratio of 0.16. LXP Industrial Trust has a 1-year low of $7.65 and a 1-year high of $10.57. The firm has a fifty day moving average of $8.53 and a two-hundred day moving average of $9.11.

LXP Industrial Trust (NYSE:LXP) last announced its quarterly earnings data on Thursday, February 13th. The real estate investment trust reported $0.16 earnings per share for the quarter, topping the consensus estimate of ($0.02) by $0.18. LXP Industrial Trust had a net margin of 12.40% and a return on equity of 2.15%. The company had revenue of $100.85 million during the quarter, compared to analyst estimates of $84.57 million. As a group, research analysts anticipate that LXP Industrial Trust will post 0.63 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Separately, JMP Securities reaffirmed a “market perform” rating on shares of LXP Industrial Trust in a report on Friday, February 14th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, LXP Industrial Trust currently has an average rating of “Hold” and a consensus price target of $11.33.

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.