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

LXP Industrial Trust (NYSE:LXP) announced a quarterly dividend on Wednesday, November 6th, Zacks reports. Investors 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 5.61%. The ex-dividend date 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 -2,600.0% 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 $0.66 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 Trading Down 1.0 %

NYSE:LXP traded down $0.10 during trading hours on Thursday, hitting $9.63. The company had a trading volume of 111,314 shares, compared to its average volume of 2,213,964. LXP Industrial Trust has a 1 year low of $8.08 and a 1 year high of $10.56. The company has a market cap of $2.83 billion, a P/E ratio of 121.64 and a beta of 0.88. The company has a 50-day moving average of $9.86 and a 200 day moving average of $9.46. The company has a current ratio of 0.11, a quick ratio of 0.11 and a debt-to-equity ratio of 0.21.

Wall Street Analyst Weigh In

Separately, Evercore ISI upped their price objective 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, September 16th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, LXP Industrial Trust currently has an average rating of “Hold” and an average price target of $11.25.

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.