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

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 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. 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 opened at $8.53 on Tuesday. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 0.21. The company has a market capitalization of $2.52 billion, a PE ratio of 65.64 and a beta of 1.06. LXP Industrial Trust has a 1-year low of $6.85 and a 1-year high of $10.57. The firm’s fifty day simple moving average is $8.14 and its 200-day simple moving average is $8.42.

LXP Industrial Trust (NYSE:LXP) last announced its quarterly earnings results on Thursday, May 1st. The real estate investment trust reported $0.16 EPS for the quarter, hitting analysts’ consensus estimates of $0.16. The firm had revenue of $87.89 million during the quarter, compared to analysts’ expectations of $84.72 million. LXP Industrial Trust had a net margin of 12.40% and a return on equity of 2.15%. The company’s revenue for the quarter was up 3.0% compared to the same quarter last year. During the same quarter last year, the company earned $0.16 earnings per share. As a group, sell-side analysts anticipate that LXP Industrial Trust will post 0.63 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of analysts recently weighed in on LXP shares. JMP Securities reissued a “market perform” rating on shares of LXP Industrial Trust in a report on Monday, May 5th. KeyCorp reduced their target price on LXP Industrial Trust from $11.00 to $10.00 and set an “overweight” rating on the stock in a report on Friday, May 2nd.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Goldman Sachs Group Inc. grew its stake 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 during the period. Jane Street Group LLC raised its position in shares of 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 buying an additional 932,822 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in LXP Industrial Trust by 4.6% during 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 in the last quarter. United Services Automobile Association purchased a new position in LXP Industrial Trust during the 1st quarter valued at about $158,000. Finally, Dynamic Technology Lab Private Ltd purchased a new stake in shares of LXP Industrial Trust in the 1st quarter worth approximately $129,000. 93.52% of the stock is currently owned by institutional investors.

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.