LXP Industrial Trust (LXP) to Issue Quarterly Dividend of $0.13 on April 17th

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 5.08%. The ex-dividend date is Thursday, March 30th.

LXP Industrial Trust has increased its dividend by an average of 5.6% annually over the last three years and has increased its dividend every year for the last 3 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. Research 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 Trading Down 1.1 %

LXP stock traded down $0.11 during trading on Friday, hitting $9.84. The company had a trading volume of 643,920 shares, compared to its average volume of 1,739,353. The company has a quick ratio of 0.11, a current ratio of 0.11 and a debt-to-equity ratio of 0.19. The firm has a 50-day moving average price of $10.93 and a 200-day moving average price of $10.31. LXP Industrial Trust has a 12 month low of $8.81 and a 12 month high of $16.10. The stock has a market cap of $2.88 billion, a price-to-earnings ratio of 26.18, a PEG ratio of 14.58 and a beta of 0.82.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. StockNews.com assumed coverage on shares of LXP Industrial Trust in a research report on Thursday. They set a “hold” rating for the company. TheStreet cut shares of LXP Industrial Trust from a “b-” rating to a “c” rating in a research report on Friday, December 30th.

Hedge Funds Weigh In On LXP Industrial Trust

Institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Personalized Indexing Management LLC grew its holdings in shares of LXP Industrial Trust by 65.4% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 18,753 shares of the real estate investment trust’s stock valued at $201,000 after buying an additional 7,417 shares during the period. Advisor Group Holdings Inc. grew its holdings in shares of LXP Industrial Trust by 81.1% in the 1st quarter. Advisor Group Holdings Inc. now owns 9,880 shares of the real estate investment trust’s stock valued at $198,000 after buying an additional 4,423 shares during the period. American Century Companies Inc. acquired a new position in shares of LXP Industrial Trust in the 1st quarter valued at $197,000. Jane Street Group LLC acquired a new position in shares of LXP Industrial Trust in the 2nd quarter valued at $195,000. Finally, Eaton Vance Management grew its holdings in shares of LXP Industrial Trust by 10.8% in the 1st quarter. Eaton Vance Management now owns 12,242 shares of the real estate investment trust’s stock valued at $192,000 after buying an additional 1,189 shares during the period. Institutional investors and hedge funds own 97.53% of the company’s stock.

About LXP Industrial Trust

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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.