Lexington Realty Trust to Issue Quarterly Dividend of $0.11 (NYSE:LXP)

Lexington Realty Trust (NYSE:LXP) declared a quarterly dividend on Monday, June 15th, Zacks reports. Shareholders of record on Tuesday, June 30th will be given a dividend of 0.105 per share by the real estate investment trust on Wednesday, July 15th. This represents a $0.42 dividend on an annualized basis and a dividend yield of 4.07%. The ex-dividend date is Monday, June 29th.

Lexington Realty Trust has decreased its dividend by an average of 65.6% annually over the last three years and has raised its dividend every year for the last 8 years. Lexington Realty Trust has a dividend payout ratio of 350.0% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect Lexington Realty Trust to earn $0.74 per share next year, which means the company should continue to be able to cover its $0.42 annual dividend with an expected future payout ratio of 56.8%.

Lexington Realty Trust stock opened at $10.33 on Friday. Lexington Realty Trust has a 1-year low of $7.86 and a 1-year high of $11.81. The firm has a market capitalization of $2.68 billion, a price-to-earnings ratio of 9.65 and a beta of 0.69. The firm’s fifty day moving average price is $9.95 and its two-hundred day moving average price is $10.39. The company has a current ratio of 0.15, a quick ratio of 0.15 and a debt-to-equity ratio of 0.29.

Lexington Realty Trust (NYSE:LXP) last released its quarterly earnings data on Thursday, May 7th. The real estate investment trust reported $0.06 earnings per share for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.13). Lexington Realty Trust had a net margin of 82.95% and a return on equity of 18.04%. The business had revenue of $80.80 million during the quarter, compared to the consensus estimate of $80.17 million. During the same period last year, the business posted $0.20 earnings per share. The firm’s quarterly revenue was down .6% on a year-over-year basis. On average, research analysts forecast that Lexington Realty Trust will post 0.75 EPS for the current year.

LXP has been the topic of a number of recent research reports. TheStreet lowered shares of Lexington Realty Trust from a “b-” rating to a “c+” rating in a research note on Tuesday, May 26th. Wells Fargo & Co dropped their price target on shares of Lexington Realty Trust from $10.50 to $9.00 and set an “equal weight” rating on the stock in a research report on Thursday, April 2nd. Zacks Investment Research raised shares of Lexington Realty Trust from a “hold” rating to a “buy” rating and set a $11.00 price target on the stock in a research report on Friday, May 29th. Finally, ValuEngine lowered shares of Lexington Realty Trust from a “hold” rating to a “sell” rating in a research report on Friday, May 1st. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the stock. Lexington Realty Trust currently has an average rating of “Hold” and a consensus price target of $10.30.

Lexington Realty Trust Company Profile

Lexington Realty Trust (NYSE: LXP) is a publicly traded real estate investment trust (REIT) that owns a diversified portfolio of real estate assets consisting primarily of equity investments in single-tenant net-leased commercial 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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Dividend History for Lexington Realty Trust (NYSE:LXP)

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