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 given 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 5.94%. The ex-dividend date is Monday, March 31st.

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 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 Trading Down 0.8 %

NYSE:LXP opened at $9.10 on Wednesday. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.16 and a quick ratio of 0.16. The company’s 50-day simple moving average is $8.55 and its 200 day simple moving average is $9.10. LXP Industrial Trust has a one year low of $7.65 and a one year high of $10.57. The firm has a market capitalization of $2.69 billion, a P/E ratio of 69.97 and a beta of 0.89.

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

Wall Street Analysts Forecast Growth

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