LXP Industrial Trust (NYSE:LXP) Updates FY24 Earnings Guidance

LXP Industrial Trust (NYSE:LXP) updated its FY24 earnings guidance on Wednesday. The company provided earnings per share guidance of $0.63 to $0.64 for the period, compared to the consensus earnings per share estimate of $0.63. LXP Industrial Trust also updated its FY 2024 guidance to 0.630-0.640 EPS.

Wall Street Analysts Forecast Growth

Separately, Evercore ISI raised their price target on shares of LXP Industrial Trust from $10.00 to $11.00 and gave the company an “in-line” rating in a research report on Monday, September 16th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, LXP Industrial Trust presently has an average rating of “Hold” and an average price target of $11.25.

LXP Industrial Trust Stock Performance

Shares of LXP stock opened at $9.93 on Wednesday. The stock has a market capitalization of $2.92 billion, a PE ratio of 116.14 and a beta of 0.88. The firm has a 50 day moving average of $9.88 and a two-hundred day moving average of $9.46. LXP Industrial Trust has a 52 week low of $8.08 and a 52 week high of $10.56. The company has a quick ratio of 0.11, a current ratio of 0.11 and a debt-to-equity ratio of 0.21.

LXP Industrial Trust Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were given a dividend of $0.13 per share. The ex-dividend date of this dividend was Monday, September 30th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 5.24%. LXP Industrial Trust’s dividend payout ratio (DPR) is presently 650.08%.

About LXP Industrial Trust

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.