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

LXP Industrial Trust (NYSE:LXP - Get Free Report) announced a quarterly dividend on Monday, June 16th, RTT News reports. Shareholders of record on Monday, June 30th will be given 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 6.22%. The ex-dividend date is Monday, June 30th.

LXP Industrial Trust has a payout ratio of 771.4% 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 $0.73 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 Up 1.6%

NYSE:LXP traded up $0.14 on Thursday, reaching $8.69. The company's stock had a trading volume of 3,949,807 shares, compared to its average volume of 2,313,475. LXP Industrial Trust has a 12-month low of $6.85 and a 12-month high of $10.57. The stock has a 50 day moving average price of $8.20 and a 200 day moving average price of $8.42. The firm has a market cap of $2.57 billion, a price-to-earnings ratio of 43.43 and a beta of 1.06. The company has a quick ratio of 0.13, a current ratio of 0.13 and a debt-to-equity ratio of 0.19.

LXP Industrial Trust (NYSE:LXP - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The real estate investment trust reported $0.16 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.16. LXP Industrial Trust had a return on equity of 3.13% and a net margin of 17.63%. The firm had revenue of $87.89 million during the quarter, compared to the consensus estimate of $84.72 million. During the same period last year, the company earned $0.16 EPS. The company's quarterly revenue was up 3.0% on a year-over-year basis. On average, equities analysts anticipate that LXP Industrial Trust will post 0.63 EPS for the current fiscal year.

Hedge Funds Weigh In On LXP Industrial Trust

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Jane Street Group LLC lifted its position in shares of LXP Industrial Trust by 6,092.1% during 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. United Services Automobile Association purchased a new stake in LXP Industrial Trust during the 1st quarter worth approximately $158,000. Goldman Sachs Group Inc. lifted its holdings in LXP Industrial Trust by 14.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 3,717,830 shares of the real estate investment trust's stock worth $32,159,000 after buying an additional 458,195 shares in the last quarter. Dynamic Technology Lab Private Ltd acquired a new stake in LXP Industrial Trust during the 1st quarter worth approximately $129,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in LXP Industrial Trust by 4.6% in the 1st 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 buying an additional 7,577 shares during the period. 93.52% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have recently commented on the stock. KeyCorp decreased their price objective on shares of LXP Industrial Trust from $11.00 to $10.00 and set an "overweight" rating on the stock in a report on Friday, May 2nd. JMP Securities reissued a "market perform" rating on shares of LXP Industrial Trust in a research report on Monday, May 5th.

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.