Ex-Div Reminder for LXP Industrial Trust's 6.50% Series C Cumulative Convertible Preferred Stock

By Preferred Stock Channel Staff, Thursday, April 25, 1:34 PM ET

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On 4/29/24, LXP Industrial Trust's 6.50% Series C Cumulative Convertible Preferred Stock (NYSE:LXP.PRC) will trade ex-dividend, for its quarterly dividend of $0.8125, payable on 5/15/24. As a percentage of LXP.PRC's recent share price of $46.35, this dividend works out to approximately 1.75%, so look for shares of LXP.PRC to trade 1.75% lower — all else being equal — when LXP.PRC shares open for trading on 4/29/24. On an annualized basis, the current yield is approximately 7.02%, which compares to an average yield of 8.01% in the "Real Estate" preferred stock category, according to Preferred Stock Channel.

As of last close, LXP.PRC was trading at a 7.46% discount to its liquidation preference amount. It should be noted that the preferred shares are convertible, with a conversion ratio of 1.8643. The chart below shows the one year performance of LXP.PRC shares, versus LXP:

Performance Comparison Chart

Below is a dividend history chart for LXP.PRC, showing historical dividends prior to the most recent $0.8125 on LXP Industrial Trust's 6.50% Series C Cumulative Convertible Preferred Stock:

Free Report: Top 8%+ Dividends (paid monthly)

In Thursday trading, LXP Industrial Trust's 6.50% Series C Cumulative Convertible Preferred Stock (NYSE:LXP.PRC) is currently up about 0.2% on the day, while the common shares (NYSE:LXP) are down about 0.2%.

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Ex-Div Reminder for LXP Industrial Trust's 6.50% Series C Cumulative Convertible Preferred Stock

Ex-Div Reminder for LXP Industrial Trust's 6.50% Series C Cumulative Convertible Preferred Stock | www.PreferredStockChannel.com