LXP Industrial Trust (NYSE:LXP) to Issue $0.14 Quarterly Dividend

LXP Industrial Trust (NYSE:LXP) announced a quarterly dividend on Monday, June 16th, RTT News reports. Shareholders of record on Monday, June 30th will be paid a dividend of 0.135 per share by the real estate investment trust on Tuesday, July 15th. This represents a $0.54 annualized dividend and a yield of 6.33%.

LXP Industrial Trust has a dividend payout ratio of 771.4% 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 $0.73 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 74.0%.

LXP Industrial Trust Trading Down 0.2%

NYSE:LXP traded down $0.02 during midday trading on Monday, hitting $8.53. 2,181,727 shares of the company traded hands, compared to its average volume of 2,301,905. The firm has a market capitalization of $2.52 billion, a P/E ratio of 65.64 and a beta of 1.06. The firm’s fifty day moving average is $8.14 and its 200-day moving average is $8.42. LXP Industrial Trust has a 12-month low of $6.85 and a 12-month high of $10.57. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 0.21.

LXP Industrial Trust (NYSE:LXP) last posted its quarterly earnings data on Thursday, May 1st. The real estate investment trust reported $0.16 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.16. The company had revenue of $87.89 million for the quarter, compared to analyst estimates of $84.72 million. LXP Industrial Trust had a net margin of 12.40% and a return on equity of 2.15%. The firm’s revenue for the quarter was up 3.0% on a year-over-year basis. During the same period in the prior year, the company posted $0.16 EPS. On average, sell-side analysts predict that LXP Industrial Trust will post 0.63 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the business. Dynamic Technology Lab Private Ltd bought a new position in LXP Industrial Trust in the first quarter worth approximately $129,000. United Services Automobile Association bought a new stake in LXP Industrial Trust during the first quarter valued at about $158,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in LXP Industrial Trust by 4.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 172,981 shares of the real estate investment trust’s stock valued at $1,496,000 after purchasing an additional 7,577 shares during the last quarter. Jane Street Group LLC raised its holdings in LXP Industrial Trust by 6,092.1% in the first quarter. Jane Street Group LLC now owns 948,134 shares of the real estate investment trust’s stock worth $8,201,000 after purchasing an additional 932,822 shares in the last quarter. Finally, Goldman Sachs Group Inc. boosted its holdings in shares of LXP Industrial Trust by 14.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 3,717,830 shares of the real estate investment trust’s stock valued at $32,159,000 after buying an additional 458,195 shares in the last quarter. Hedge funds and other institutional investors own 93.52% of the company’s stock.

Wall Street Analysts Forecast Growth

LXP has been the subject of a number of research analyst reports. JMP Securities reiterated a “market perform” rating on shares of LXP Industrial Trust in a report on Monday, May 5th. KeyCorp dropped their price objective on LXP Industrial Trust from $11.00 to $10.00 and set an “overweight” rating on the stock in a research note on Friday, May 2nd.

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.