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| LXP Industrial Trust's Series C Preferred Stock Shares Cross 7% Yield MarkBy Preferred Stock Channel Staff, Tuesday, April 16, 2:21 PM ET
In trading on Tuesday, shares of LXP Industrial Trust's 6.50% Series C Cumulative Convertible Preferred Stock (NYSE:LXP.PRC) were yielding above the 7% mark based on its quarterly dividend (annualized to $3.25), with shares changing hands as low as $46.41 on the day. This compares to an average yield of 8.08% in the "Real Estate" preferred stock category, according to Preferred Stock Channel. As of last close, LXP.PRC was trading at a 6.72% discount to its liquidation preference amount, versus the average discount of 16.67% in the "Real Estate" category. 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:
Below is a dividend history chart for LXP.PRC, showing historical dividend payments on LXP Industrial Trust's 6.50% Series C Cumulative Convertible Preferred Stock:
Special Offer: Receive our best dividend ideas directly to your inbox each afternoon with the Dividend Channel Premium Newsletter In Tuesday trading, LXP Industrial Trust's 6.50% Series C Cumulative Convertible Preferred Stock (NYSE:LXP.PRC) is currently down about 0.2% on the day, while the common shares (NYSE:LXP) are down about 1.2%.
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