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

LXP Industrial Trust (NYSE:LXP) announced a quarterly dividend on Wednesday, November 6th, Zacks reports. Shareholders of record on Tuesday, December 31st will be paid 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 5.61%. The ex-dividend date is Tuesday, December 31st. This is an increase from LXP Industrial Trust’s previous quarterly dividend of $0.13.

LXP Industrial Trust has increased its dividend payment by an average of 6.1% annually over the last three years. LXP Industrial Trust has a 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. 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 Trading Down 1.0 %

Shares of LXP traded down $0.10 during midday trading on Thursday, hitting $9.63. 111,314 shares of the stock were exchanged, compared to its average volume of 2,213,964. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.11 and a current ratio of 0.11. The firm has a market cap of $2.83 billion, a P/E ratio of 121.64 and a beta of 0.88. LXP Industrial Trust has a 52-week low of $8.08 and a 52-week high of $10.56. The stock has a fifty day simple moving average of $9.86 and a 200 day simple moving average of $9.46.

Analyst Ratings Changes

Separately, Evercore ISI lifted their target price on LXP Industrial Trust from $10.00 to $11.00 and gave the company an “in-line” rating in a research report on Monday, September 16th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and three 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 an average target price of $11.25.

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.