LXP Industrial Trust (NYSE:LXP) Declares $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 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 yield of 5.88%.

LXP Industrial Trust has increased its dividend payment by an average of 7.7% per year 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 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 traded up $0.13 during trading on Monday, reaching $9.19. The company had a trading volume of 2,004,841 shares, compared to its average volume of 2,026,971. The firm’s fifty day moving average is $8.51 and its 200 day moving average is $9.12. 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 has a market capitalization of $2.72 billion, a PE ratio of 70.66 and a beta of 0.89. LXP Industrial Trust has a twelve month low of $7.65 and a twelve month high of $10.57.

LXP Industrial Trust (NYSE:LXP) last issued its quarterly earnings results on Thursday, February 13th. The real estate investment trust reported $0.16 EPS 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 firm had revenue of $100.85 million for the quarter, compared to analysts’ expectations of $84.57 million. On average, equities analysts forecast that LXP Industrial Trust will post 0.63 EPS for the current year.

Wall Street Analysts Forecast Growth

Separately, JMP Securities restated 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 issued a buy rating to the company. Based on data from MarketBeat, the stock 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.