LXP Industrial Trust (NYSE:LXP) is included among the 10 Best Dividend Stocks Under $10 to Invest in.
LXP Industrial Trust is a real estate investment trust company that acquires, develops, owns, and manages high-quality industrial properties in major U.S. logistics markets with strong growth prospects.
On October 28, Citizens upgraded LXP Industrial Trust from Market Perform to Market Outperform and set a price target of $11.50.
The upgrade comes after Lexington sold two recently completed vacant developments, which Citizens says has removed an overhang on the stock while proving accretive to earnings and strengthening the balance sheet. The sale addresses what Citizens calls a “key hurdle,” enabling Lexington to follow its strategic plan with minimal overhang while using the proceeds for debt repayment and reducing vacancy-related operating expenses.
Citizens expects LXP Industrial Trust to now focus resources on its Midwest and Sunbelt operating portfolio, which should gain from the current administration’s focus on revitalizing US manufacturing.
LXP Industrial Trust has also paid regular dividends to shareholders since 1998. The company offers a quarterly dividend of $0.135 per share and has a dividend yield of 11.05%, as of October 28.
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