LXP Industrial Trust (NYSE:LXP) Releases 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.

Analyst Ratings Changes

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

LXP Industrial Trust Stock Performance

NYSE:LXP traded up $0.12 during trading hours on Friday, hitting $9.71. 2,337,496 shares of the company were exchanged, compared to its average volume of 2,224,326. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.11 and a quick ratio of 0.11. LXP Industrial Trust has a 52-week low of $8.08 and a 52-week high of $10.56. The stock has a market capitalization of $2.86 billion, a price-to-earnings ratio of 161.00 and a beta of 0.88. The company’s 50 day moving average price is $9.85 and its 200-day moving average price is $9.47.

LXP Industrial Trust Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be issued a dividend of $0.135 per share. The ex-dividend date is Tuesday, December 31st. This is a positive change from LXP Industrial Trust’s previous quarterly dividend of $0.13. This represents a $0.54 dividend on an annualized basis and a dividend yield of 5.56%. LXP Industrial Trust’s payout ratio is 900.00%.

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.