LXP Industrial Trust (NYSE:LXP) Updates 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 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.

Analysts Set New Price Targets

Separately, Evercore ISI lifted their price target on LXP Industrial Trust from $10.00 to $11.00 and gave the company an “in-line” rating in a report on Monday, September 16th. One equities research 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. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $11.25.

LXP Industrial Trust Stock Up 6.9 %

LXP Industrial Trust stock opened at $9.93 on Wednesday. LXP Industrial Trust has a fifty-two week low of $8.08 and a fifty-two week high of $10.56. The firm has a market cap of $2.92 billion, a price-to-earnings ratio of 116.14 and a beta of 0.88. The firm has a fifty day moving average price of $9.88 and a two-hundred day moving average price of $9.46. 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 Dividend Announcement

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

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.