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

LXP Industrial Trust (NYSE:LXP) declared a quarterly dividend on Monday, March 18th, Wall Street Journal reports. Investors of record on Thursday, March 28th will be paid a dividend of 0.13 per share by the real estate investment trust on Monday, April 15th. This represents a $0.52 annualized dividend and a yield of 5.81%. The ex-dividend date of this dividend is Wednesday, March 27th.

LXP Industrial Trust has increased its dividend by an average of 6.1% annually over the last three years and has increased its dividend every year for the last 4 years. LXP Industrial Trust has a payout ratio of 1,733.3% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect LXP Industrial Trust to earn $0.68 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 76.5%.

LXP Industrial Trust Stock Down 2.1 %

LXP Industrial Trust stock opened at $8.95 on Monday. LXP Industrial Trust has a 1-year low of $7.75 and a 1-year high of $10.75. The firm has a market capitalization of $2.63 billion, a price-to-earnings ratio of 111.89 and a beta of 0.80. The firm’s fifty day moving average price is $9.00 and its two-hundred day moving average price is $8.99. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.20.

LXP Industrial Trust (NYSE:LXP) last released its quarterly earnings data on Thursday, February 15th. The real estate investment trust reported $0.04 earnings per share for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.13). LXP Industrial Trust had a net margin of 8.92% and a return on equity of 1.37%. The business had revenue of $83.00 million during the quarter, compared to the consensus estimate of $83.74 million. During the same period last year, the business posted $0.17 earnings per share. The firm’s quarterly revenue was up 2.3% on a year-over-year basis. On average, equities research analysts predict that LXP Industrial Trust will post 0.64 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. StockNews.com raised shares of LXP Industrial Trust from a “sell” rating to a “hold” rating in a research note on Tuesday, December 19th. KeyCorp lowered their target price on shares of LXP Industrial Trust from $12.00 to $11.00 and set an “overweight” rating for the company in a report on Wednesday, December 13th.

Institutional Trading of LXP Industrial Trust

Several institutional investors and hedge funds have recently made changes to their positions in LXP. Norges Bank purchased a new stake in shares of LXP Industrial Trust in the fourth quarter valued at about $29,910,000. State Street Corp increased its holdings in LXP Industrial Trust by 12.6% during the first quarter. State Street Corp now owns 17,231,555 shares of the real estate investment trust’s stock worth $272,573,000 after buying an additional 1,921,716 shares during the last quarter. Macquarie Group Ltd. increased its holdings in LXP Industrial Trust by 15.0% during the first quarter. Macquarie Group Ltd. now owns 13,741,004 shares of the real estate investment trust’s stock worth $141,669,000 after buying an additional 1,788,043 shares during the last quarter. Vanguard Group Inc. increased its holdings in LXP Industrial Trust by 2.8% during the first quarter. Vanguard Group Inc. now owns 46,080,850 shares of the real estate investment trust’s stock worth $723,469,000 after buying an additional 1,259,719 shares during the last quarter. Finally, Balyasny Asset Management L.P. increased its holdings in LXP Industrial Trust by 44.3% during the first quarter. Balyasny Asset Management L.P. now owns 3,732,154 shares of the real estate investment trust’s stock worth $38,479,000 after buying an additional 1,145,477 shares during the last quarter. Hedge funds and other institutional investors own 93.52% of the company’s stock.

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.