LXP Industrial Trust (NYSE:LXP) Releases FY 2024 Earnings Guidance

LXP Industrial Trust (NYSE:LXP) updated its FY 2024 earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of 0.620-0.650 for the period, compared to the consensus estimate of 0.630. The company issued revenue guidance of -. LXP Industrial Trust also updated its FY24 guidance to $0.62-$0.65 EPS.

LXP Industrial Trust Trading Down 0.2 %

NYSE:LXP traded down $0.02 during midday trading on Wednesday, hitting $10.44. The stock had a trading volume of 339,677 shares, compared to its average volume of 2,322,631. LXP Industrial Trust has a one year low of $7.75 and a one year high of $10.50. The company has a market capitalization of $3.07 billion, a price-to-earnings ratio of 261.44 and a beta of 0.86. The stock has a 50-day moving average of $9.23 and a 200 day moving average of $9.01. The company has a quick ratio of 0.27, a current ratio of 0.27 and a debt-to-equity ratio of 0.20.

LXP Industrial Trust Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, July 15th. Shareholders of record on Friday, June 28th were given a dividend of $0.13 per share. The ex-dividend date was Friday, June 28th. This represents a $0.52 annualized dividend and a yield of 4.98%. LXP Industrial Trust’s dividend payout ratio (DPR) is presently 1,300.33%.

Analyst Ratings Changes

A number of research firms have recently weighed in on LXP. BNP Paribas began coverage on LXP Industrial Trust in a research report on Tuesday, June 4th. They issued an outperform rating and a $11.00 price objective for the company. Jefferies Financial Group raised their target price on LXP Industrial Trust from $11.00 to $12.00 and gave the stock a buy rating in a research note on Friday, June 7th. Finally, StockNews.com lowered LXP Industrial Trust from a hold rating to a sell rating in a research note on Friday, May 3rd.

Insider Buying and Selling at LXP Industrial Trust

In related news, Director Arun Gupta acquired 15,000 shares of the business’s stock in a transaction dated Wednesday, June 12th. The shares were acquired at an average price of $8.95 per share, with a total value of $134,250.00. Following the completion of the transaction, the director now owns 65,474 shares of the company’s stock, valued at $585,992.30. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. 2.17% of the stock is owned by corporate insiders.

LXP Industrial Trust Company Profile

LXP Industrial Trust (NYSE: LXP) is a publicly traded real estate investment trust (REIT) focused on single-tenant industrial real estate investments across the United States. LXP seeks to expand its industrial portfolio through acquisitions, build-to-suit transactions, sale-leaseback transactions, development projects and other transactions.