LXP Industrial Trust (LXP) To Go Ex-Dividend on March 31st

LXP Industrial Trust (NYSE:LXP) declared 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 annualized dividend and a dividend yield of 6.17%. The ex-dividend date of this dividend is Monday, March 31st.

LXP Industrial Trust has increased its dividend by an average of 7.7% annually over the last three years. LXP Industrial Trust has a dividend 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. Equities 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 NYSE LXP opened at $8.75 on Friday. The firm has a market cap of $2.59 billion, a P/E ratio of 67.27 and a beta of 0.89. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.21. LXP Industrial Trust has a twelve month low of $7.65 and a twelve month high of $10.57. The company has a 50 day moving average of $8.69 and a 200 day moving average of $9.04.

LXP Industrial Trust (NYSE:LXP) last announced its quarterly earnings results 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 firm had revenue of $100.85 million during the quarter, compared to analyst estimates of $84.57 million. As a group, research analysts expect that LXP Industrial Trust will post 0.63 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Separately, JMP Securities restated a “market perform” rating on shares of LXP Industrial Trust in a research note on Friday, February 14th. One 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. According to data from MarketBeat, 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.