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

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

LXP Industrial Trust has raised its dividend payment by an average of 7.7% annually over the last three years. LXP Industrial Trust has a dividend payout ratio of 1,350.0% 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 $0.73 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 Stock Performance

LXP stock traded up $0.13 during midday trading on Monday, hitting $9.19. The stock had a trading volume of 2,004,841 shares, compared to its average volume of 2,026,971. LXP Industrial Trust has a 52 week low of $7.65 and a 52 week high of $10.57. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 0.21. The stock has a 50-day simple moving average of $8.51 and a 200 day simple moving average of $9.12. The firm has a market capitalization of $2.72 billion, a price-to-earnings ratio of 70.66 and a beta of 0.89.

LXP Industrial Trust (NYSE:LXP) last released its quarterly earnings data on Thursday, February 13th. The real estate investment trust reported $0.16 EPS for the quarter, topping analysts’ consensus estimates 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 the consensus estimate of $84.57 million. As a group, equities research analysts anticipate that LXP Industrial Trust will post 0.63 earnings per share for the current 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 analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $11.33.

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.