Lexington Realty Trust (NYSE:LXP) to Issue Quarterly Dividend of $0.10
Lexington Realty Trust (NYSE:LXP) declared a quarterly dividend on Monday, June 17th, NASDAQ reports. Stockholders of record on Friday, June 28th will be given a dividend of 0.102 per share by the real estate investment trust on Monday, July 15th. This represents a $0.41 annualized dividend and a dividend yield of 4.32%. The ex-dividend date is Thursday, June 27th.
Lexington Realty Trust has raised its dividend payment by an average of 1.4% per year over the last three years and has increased its dividend every year for the last 8 years. Lexington Realty Trust has a payout ratio of 43.2% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Lexington Realty Trust to earn $0.77 per share next year, which means the company should continue to be able to cover its $0.41 annual dividend with an expected future payout ratio of 53.2%.
Shares of NYSE:LXP traded down $0.09 during midday trading on Wednesday, hitting $9.45. The company had a trading volume of 85,132 shares, compared to its average volume of 1,852,836. Lexington Realty Trust has a 12 month low of $7.66 and a 12 month high of $9.88. The company has a current ratio of 0.22, a quick ratio of 0.22 and a debt-to-equity ratio of 0.37. The company has a market cap of $2.22 billion, a PE ratio of 9.84, a price-to-earnings-growth ratio of 13.80 and a beta of 0.89. The business has a fifty day moving average of $9.30.
LXP has been the topic of several research analyst reports. Zacks Investment Research raised Lexington Realty Trust from a “hold” rating to a “buy” rating and set a $10.00 price objective on the stock in a research note on Wednesday, May 1st. Stifel Nicolaus raised Lexington Realty Trust from a “sell” rating to a “hold” rating and set a $9.15 price objective on the stock in a research note on Tuesday, May 28th. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $9.29.
In related news, EVP Joseph Bonventre sold 20,000 shares of the firm’s stock in a transaction on Thursday, June 6th. The stock was sold at an average price of $9.30, for a total transaction of $186,000.00. Following the sale, the executive vice president now owns 362,103 shares of the company’s stock, valued at approximately $3,367,557.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 3.26% of the company’s stock.
About Lexington Realty Trust
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.
Further Reading: Stock Symbols Definition, Examples, Lookup
Receive News & Ratings for Lexington Realty Trust Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Lexington Realty Trust and related companies with MarketBeat.com's FREE daily email newsletter.