LXP Industrial Trust (NYSE:LXP – Get Rating) announced a quarterly dividend on Thursday, June 16th, Wall Street Journal reports. Shareholders of record on Thursday, June 30th will be given a dividend of 0.12 per share by the real estate investment trust on Friday, July 15th. This represents a $0.48 dividend on an annualized basis and a yield of 4.78%. The ex-dividend date is Wednesday, June 29th.
LXP Industrial Trust has decreased its dividend payment by an average of 14.6% per year over the last three years and has increased its dividend every year for the last 2 years. LXP Industrial Trust has a payout ratio of 1,200.0% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research analysts expect LXP Industrial Trust to earn $0.71 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 67.6%.
LXP Industrial Trust stock opened at $10.04 on Friday. LXP Industrial Trust has a twelve month low of $9.98 and a twelve month high of $16.10. The stock has a 50 day moving average of $12.04 and a two-hundred day moving average of $14.07. The company has a current ratio of 0.10, a quick ratio of 0.10 and a debt-to-equity ratio of 0.19. The stock has a market capitalization of $2.89 billion, a price-to-earnings ratio of 8.30, a PEG ratio of 9.61 and a beta of 0.75.
In other news, Director Lawrence L. Gray acquired 4,370 shares of LXP Industrial Trust stock in a transaction that occurred on Monday, May 9th. The stock was purchased at an average cost of $11.50 per share, with a total value of $50,255.00. Following the completion of the acquisition, the director now owns 69,609 shares in the company, valued at approximately $800,503.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Lawrence L. Gray acquired 2,235 shares of LXP Industrial Trust stock in a transaction that occurred on Wednesday, May 11th. The shares were purchased at an average cost of $11.26 per share, with a total value of $25,166.10. Following the completion of the acquisition, the director now owns 71,844 shares of the company’s stock, valued at approximately $808,963.44. The disclosure for this purchase can be found here. Over the last ninety days, insiders have purchased 37,965 shares of company stock valued at $414,083. 2.10% of the stock is currently owned by insiders.
Institutional investors have recently added to or reduced their stakes in the business. Weiss Multi Strategy Advisers LLC purchased a new position in LXP Industrial Trust during the first quarter worth $399,000. Virtu Financial LLC purchased a new position in LXP Industrial Trust during the first quarter worth $368,000. Mariner LLC purchased a new position in LXP Industrial Trust during the first quarter worth $360,000. Allianz Asset Management GmbH increased its position in LXP Industrial Trust by 11.7% during the fourth quarter. Allianz Asset Management GmbH now owns 23,074 shares of the real estate investment trust’s stock worth $360,000 after buying an additional 2,420 shares in the last quarter. Finally, AlphaCrest Capital Management LLC purchased a new position in LXP Industrial Trust during the first quarter worth $354,000. 98.07% of the stock is owned by institutional investors.
Several analysts have recently commented on LXP shares. StockNews.com cut LXP Industrial Trust from a “hold” rating to a “sell” rating in a report on Tuesday, May 24th. Bank of America started coverage on LXP Industrial Trust in a report on Monday, April 18th. They issued an “underperform” rating and a $14.00 price target for the company. Finally, TheStreet cut LXP Industrial Trust from a “b” rating to a “c+” rating in a report on Thursday, May 5th. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $15.75.
LXP Industrial Trust Company Profile (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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