LXP Industrial Trust (NYSE:LXP) Declares Dividend Increase – $0.14 Per Share

LXP Industrial Trust (NYSE:LXP) declared a quarterly dividend on Wednesday, November 6th,Zacks Dividends 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 6.57%. The ex-dividend date of this dividend is Tuesday, December 31st. This is a boost from LXP Industrial Trust’s previous quarterly dividend of $0.13.

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 -2,700.0% 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 $0.54 annual dividend with an expected future payout ratio of 81.8%.

LXP Industrial Trust Stock Down 1.2 %

LXP stock opened at $8.22 on Friday. The company has a market cap of $2.42 billion, a price-to-earnings ratio of 137.02 and a beta of 0.86. The firm has a 50-day moving average of $9.17 and a two-hundred day moving average of $9.58. LXP Industrial Trust has a 12 month low of $8.08 and a 12 month high of $10.56. The company has a current ratio of 0.12, a quick ratio of 0.12 and a debt-to-equity ratio of 0.21.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on LXP shares. Evercore ISI lifted their price objective on 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. JMP Securities reissued a “market perform” rating on shares of LXP Industrial Trust in a research report on Friday, December 20th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, LXP Industrial Trust presently has an average rating of “Hold” and a consensus price target 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.