LXP Industrial Trust (NYSE:LXP) Updates FY 2024 Earnings Guidance

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

LXP Industrial Trust Price Performance

NYSE LXP traded up $0.11 on Friday, hitting $9.69. The stock had a trading volume of 331,166 shares, compared to its average volume of 2,215,080. LXP Industrial Trust has a 52-week low of $8.08 and a 52-week high of $10.56. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.11 and a current ratio of 0.11. The company has a market capitalization of $2.85 billion, a price-to-earnings ratio of 161.00 and a beta of 0.88. The firm has a 50-day moving average of $9.85 and a 200-day moving average of $9.47.

LXP Industrial Trust Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be issued a dividend of $0.135 per share. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $0.54 annualized dividend and a dividend yield of 5.57%. This is a positive change from LXP Industrial Trust’s previous quarterly dividend of $0.13. LXP Industrial Trust’s dividend payout ratio (DPR) is currently 900.00%.

Analyst Upgrades and Downgrades

Separately, Evercore ISI raised 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 research report on Monday, September 16th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $11.25.

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.