LXP Industrial Trust (NYSE:LXP) Issues 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 $0.62-$0.65 for the period, compared to the consensus estimate of $0.63. LXP Industrial Trust also updated its FY 2024 guidance to 0.620-0.650 EPS.

Wall Street Analysts Forecast Growth

LXP has been the subject of several research analyst reports. StockNews.com lowered shares of LXP Industrial Trust from a hold rating to a sell rating in a research report on Friday, May 3rd. BNP Paribas started coverage on LXP Industrial Trust in a report on Tuesday, June 4th. They issued an outperform rating and a $11.00 price objective for the company. Finally, Jefferies Financial Group lifted their target price on shares of LXP Industrial Trust from $11.00 to $12.00 and gave the stock a buy rating in a research note on Friday, June 7th.

LXP Industrial Trust Price Performance

Shares of NYSE LXP opened at $10.46 on Wednesday. LXP Industrial Trust has a 1 year low of $7.75 and a 1 year high of $10.49. The stock has a market capitalization of $3.08 billion, a P/E ratio of 261.44 and a beta of 0.86. The company’s 50-day moving average is $9.23 and its 200 day moving average is $9.01. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.27 and a quick ratio of 0.27.

LXP Industrial Trust Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, July 15th. Stockholders of record on Friday, June 28th were given a $0.13 dividend. This represents a $0.52 annualized dividend and a dividend yield of 4.97%. The ex-dividend date of this dividend was Friday, June 28th. LXP Industrial Trust’s dividend payout ratio is currently 1,300.33%.

Insider Activity

In other LXP Industrial Trust news, Director Arun Gupta bought 15,000 shares of the stock in a transaction dated Wednesday, June 12th. The stock was purchased at an average cost of $8.95 per share, for a total transaction of $134,250.00. Following the completion of the acquisition, the director now owns 65,474 shares of the company’s stock, valued at $585,992.30. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 2.17% of the company’s stock.

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.