LXP Industrial Trust: (NYSE: LXP – Get Rating) declared a quarterly dividend on Thursday, June 16th, Wall Street Journal reports. Shareholders of record on Thursday, June 30th will be paid a dividend of 0.12 per share by the real estate investment trust on Friday, July 15th. This represents a $ 0.48 annualized dividend and a yield of 4.37%. The ex-dividend date is Wednesday, June 29th.
LXP Industrial Trust has decreased its dividend by an average of 14.6% annually over the last three years and has increased its dividend annually for the last 2 consecutive years. LXP Industrial Trust has a dividend payout ratio of 1,200.0% 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 $ 0.48 annual dividend with an expected future payout ratio of 66.7%.
Shares of NYSE LXP opened at $ 10.99 on Monday. The company has a quick ratio of 0.10, a current ratio of 0.10 and a debt-to-equity ratio of 0.19. The business’s 50 day moving average is $ 11.59 and its two-hundred day moving average is $ 13.83. The company has a market cap of $ 3.16 billion, a P / E ratio of 9.08, a P / E / G ratio of 9.72 and a beta of 0.75. LXP Industrial Trust has a 12 month low of $ 9.98 and a 12 month high of $ 16.10.
LXP Industrial Trust (NYSE: LXP – Get Rating) last announced its quarterly earnings data on Thursday, May 5th. The real estate investment trust reported $ 0.03 earnings per share for the quarter, topping the estimate consensus of $ 0.01 by $ 0.02. LXP Industrial Trust had a return on equity of 16.80% and a net margin of 106.18%. The company had revenue of $ 80.30 million for the quarter, compared to analyst estimates of $ 80.69 million. During the same quarter last year, the firm earned $ 0.22 EPS. LXP Industrial Trust’s revenue for the quarter was down 13.3% compared to the same quarter last year. Sell-side analysts expect that LXP Industrial Trust will post 0.65 earnings per share for the current fiscal year.
In other news, Director Lawrence L. Gray bought 4,370 shares of the company stock in a transaction dated Monday, May 9th. The stock was bought at an average price of $ 11.50 per share, for a total transaction of $ 50,255.00. Following the completion of the transaction, the director now directly owns 69,609 shares in the company, valued at approximately $ 800,503.50. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Lawrence L. Gray bought 2,235 shares of the company stock in a transaction dated Wednesday, May 11th. The shares were purchased at an average price of $ 11.26 per share, with a total value of $ 25,166.10. Following the transaction, the director now owns 71,844 shares of the company stock, valued at $ 808,963.44. The disclosure for this purchase can be found here. In the last three months, insiders acquired 37,965 shares of company stock worth $ 414,083. Insiders own 2.06% of the company stock.
Several hedge funds have recently added to or reduced their stakes in the company. Cibc World Markets Corp raised its position in shares of LXP Industrial Trust by 0.8% during the first quarter. Cibc World Markets Corp now owns 142,532 shares of the real estate investment trust’s stock worth $ 2,238,000 after acquiring an additional 1,151 shares during the last quarter. Eaton Vance Management increased its holdings in LXP Industrial Trust by 10.8% in the first quarter. Eaton Vance Management now owns 12,242 shares of the real estate investment trust’s stock valued at $ 192,000 after purchasing an additional 1,189 shares during the last quarter. PNC Financial Services Group Inc. increased its holdings in LXP Industrial Trust by 4.6% in the first quarter. PNC Financial Services Group Inc. now owns 34,813 shares of the real estate investment trust’s stock valued at $ 547,000 after purchasing an additional 1,536 shares during the last quarter. Evergreen Capital Management LLC increased its holdings in LXP Industrial Trust by 16.3% in the first quarter. Evergreen Capital Management LLC now owns 13,795 shares of the real estate investment trust’s stock valued at $ 217,000 after purchasing an additional 1,937 shares during the last quarter. Finally, Advisor Group Holdings Inc. increased its holdings in LXP Industrial Trust by 81.1% in the first quarter. Advisor Group Holdings Inc. now owns 9,880 shares of the real estate investment trust’s stock valued at $ 198,000 after purchasing an additional 4,423 shares during the last quarter. Institutional investors own 98.07% of the company stock.
Several analysts have recently weighed in on the company. StockNews.com lowered LXP Industrial Trust from a “hold” rating to a “sell” rating in a report on Tuesday, May 24th. Evercore ISI set a $ 13.00 price target on LXP Industrial Trust in a research note on Monday, June 20th. Bank of America initiated coverage on LXP Industrial Trust in a research note on Monday, April 18th. They issued an “underperform” rating and a $ 14.00 price target on the stock. Finally, TheStreet lowered LXP Industrial Trust from a “b” rating to a “c +” rating in a research note on Thursday, May 5th. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and two have given a buy rating to the company stock. According to MarketBeat, LXP Industrial Trust has an average rating of “Hold” and a consensus target price of $ 15.00.
About LXP Industrial Trust: (Get Rating)
Lexington Realty Trust (NYSE: LXP) is a publicly traded real estate investment trust (REIT) that owns a portfolio of real estate assets consisting primarily of equity investments in single-tenant net-leased industrial properties across the United States. Lexington seeks to expand its industrial portfolio through build-to-suit transactions, sale-leaseback transactions and other transactions, including acquisitions.
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