LXP Industrial Trust (NYSE:LXP) Increases Dividend to $0.14 Per Share

LXP Industrial Trust (NYSE:LXP) declared a quarterly dividend on Wednesday, November 6th, Zacks reports. Stockholders of record on Tuesday, December 31st will be given a dividend of 0.135 per share by the real estate investment trust on Wednesday, January 15th. This represents a $0.54 annualized dividend and a dividend yield of 5.55%. The ex-dividend date of this dividend is Tuesday, December 31st. This is an increase from LXP Industrial Trust’s previous quarterly dividend of $0.13.

LXP Industrial Trust has raised its dividend payment by an average of 6.1% per year over the last three years. LXP Industrial Trust has a payout ratio of -2,600.0% 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 $0.66 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 Price Performance

Shares of LXP stock traded up $0.44 during mid-day trading on Thursday, hitting $9.73. The company had a trading volume of 5,310,882 shares, compared to its average volume of 1,666,289. The stock’s 50 day moving average price is $9.86 and its 200-day moving average price is $9.46. LXP Industrial Trust has a 52-week low of $8.08 and a 52-week high of $10.56. The company has a market capitalization of $2.86 billion, a P/E ratio of 121.64 and a beta of 0.88. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.11 and a quick ratio of 0.11.

Analyst Upgrades and Downgrades

Separately, Evercore ISI boosted their price target on shares of LXP Industrial Trust from $10.00 to $11.00 and gave the stock 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 given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $11.25.

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.