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

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 paid 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 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 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 Down 0.7 %

LXP opened at $8.75 on Friday. The stock has a market cap of $2.59 billion, a price-to-earnings ratio of 67.27 and a beta of 0.89. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.16 and a current ratio of 0.16. The firm’s fifty day moving average is $8.69 and its 200 day moving average is $9.04. LXP Industrial Trust has a fifty-two week low of $7.65 and a fifty-two week high of $10.57.

LXP Industrial Trust (NYSE:LXP) last announced its quarterly earnings data on Thursday, February 13th. The real estate investment trust reported $0.16 EPS for the quarter, beating the consensus estimate of ($0.02) by $0.18. LXP Industrial Trust had a return on equity of 2.15% and a net margin of 12.40%. The business had revenue of $100.85 million for the quarter, compared to the consensus estimate of $84.57 million. On average, sell-side analysts forecast that LXP Industrial Trust will post 0.63 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, JMP Securities reissued 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 assigned a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target 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.