LXP Industrial Trust (LXP) to Issue Quarterly Dividend of $0.13 on October 15th

LXP Industrial Trust (NYSE:LXP) announced a quarterly dividend on Monday, September 16th, NASDAQ reports. Shareholders of record on Monday, September 30th will be paid a dividend of 0.13 per share by the real estate investment trust on Tuesday, October 15th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 5.12%. The ex-dividend date of this dividend is Monday, September 30th.

LXP Industrial Trust has raised its dividend by an average of 6.1% per year over the last three years. LXP Industrial Trust has a payout ratio of -5,200.0% 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 $0.66 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 Stock Performance

Shares of LXP stock opened at $10.16 on Wednesday. LXP Industrial Trust has a 12 month low of $7.75 and a 12 month high of $10.56. The company has a current ratio of 0.11, a quick ratio of 0.11 and a debt-to-equity ratio of 0.21. The company has a market cap of $2.99 billion, a P/E ratio of 254.00 and a beta of 0.87. The firm has a fifty day moving average price of $10.04 and a 200 day moving average price of $9.26.

Analyst Upgrades and Downgrades

LXP has been the topic of several research analyst reports. BNP Paribas started coverage on LXP Industrial Trust in a research report on Tuesday, June 4th. They set an “outperform” rating and a $11.00 target price on the stock. Jefferies Financial Group raised their price objective on shares of LXP Industrial Trust from $11.00 to $12.00 and gave the stock a “buy” rating in a report on Friday, June 7th. Finally, Evercore ISI upped their target price on shares of LXP Industrial Trust from $10.00 to $11.00 and gave the company an “in-line” rating in a report on Monday. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the stock. According to MarketBeat, LXP Industrial Trust currently has an average rating of “Hold” and a consensus target price of $11.25.

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.