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

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

LXP Industrial Trust Price Performance

Shares of LXP Industrial Trust stock opened at $9.71 on Friday. The firm has a fifty day moving average price of $9.84 and a two-hundred day moving average price of $9.47. LXP Industrial Trust has a fifty-two week low of $8.08 and a fifty-two week high of $10.56. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.12 and a quick ratio of 0.11. The company has a market cap of $2.86 billion, a PE ratio of 161.78 and a beta of 0.88.

LXP Industrial Trust Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be paid a dividend of $0.135 per share. This is a positive change from LXP Industrial Trust’s previous quarterly dividend of $0.13. This represents a $0.54 annualized dividend and a yield of 5.56%. The ex-dividend date is Tuesday, December 31st. LXP Industrial Trust’s dividend payout ratio is currently 866.81%.

Analyst Ratings Changes

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

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.