LXP Industrial Trust (NYSE:LXP – Get Rating) declared a quarterly dividend on Wednesday, March 15th, Zacks reports. Investors of record on Friday, March 31st will be given a dividend of 0.125 per share by the real estate investment trust on Monday, April 17th. This represents a $0.50 annualized dividend and a yield of 5.09%. The ex-dividend date of this dividend is Thursday, March 30th.
LXP Industrial Trust has raised its dividend by an average of 5.6% per year over the last three years and has increased its dividend annually for the last 3 consecutive years. LXP Industrial Trust has a dividend payout ratio of 1,666.7% 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 $0.72 per share next year, which means the company should continue to be able to cover its $0.50 annual dividend with an expected future payout ratio of 69.4%.
LXP Industrial Trust Price Performance
LXP Industrial Trust stock opened at $9.82 on Friday. The company has a fifty day simple moving average of $10.93 and a 200-day simple moving average of $10.31. The firm has a market capitalization of $2.87 billion, a price-to-earnings ratio of 26.18, a PEG ratio of 14.58 and a beta of 0.82. The company has a quick ratio of 0.11, a current ratio of 0.11 and a debt-to-equity ratio of 0.19. LXP Industrial Trust has a 52-week low of $8.81 and a 52-week high of $16.10.
Institutional Investors Weigh In On LXP Industrial Trust
Wall Street Analyst Weigh In
Several brokerages recently issued reports on LXP. StockNews.com started coverage on shares of LXP Industrial Trust in a research note on Thursday. They set a “hold” rating for the company. TheStreet cut LXP Industrial Trust from a “b-” rating to a “c” rating in a report on Friday, December 30th.
LXP Industrial Trust Company Profile
LXP Industrial Trust is a real estate investment trust, which engages in financing, acquisition, and ownership of portfolio of single-tenant commercial properties. It also provides investment advisory and asset management services. The company was founded by E. Robert Roskind in October 1993 and is headquartered in New York, NY.
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