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 (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.

Analysts Set New Price Targets

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

LXP Industrial Trust Stock Performance

LXP stock traded up $0.12 during trading on Friday, hitting $9.71. 2,337,496 shares of the company’s stock traded hands, compared to its average volume of 2,224,326. The stock has a fifty day moving average price of $9.85 and a two-hundred day moving average price of $9.47. The company has a quick ratio of 0.11, a current ratio of 0.11 and a debt-to-equity ratio of 0.21. 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.

LXP Industrial Trust Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Investors 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. The ex-dividend date is Tuesday, December 31st. This represents a $0.54 annualized dividend and a yield of 5.56%. LXP Industrial Trust’s dividend 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.