LXP Industrial Trust (LXP) To Go Ex-Dividend on March 31st

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 dividend yield of 5.94%. The ex-dividend date of this dividend 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% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. 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 0.8 %

LXP stock opened at $9.10 on Wednesday. The stock’s fifty day simple moving average is $8.55 and its two-hundred day simple moving average is $9.10. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 0.21. The stock has a market cap of $2.69 billion, a P/E ratio of 69.97 and a beta of 0.89. LXP Industrial Trust has a 1-year low of $7.65 and a 1-year 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 earnings per share for the quarter, topping 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 company had revenue of $100.85 million during the quarter, compared to analyst estimates of $84.57 million. Analysts expect that LXP Industrial Trust will post 0.63 EPS for the current year.

Wall Street Analyst Weigh In

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 assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price 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.