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 EPS guidance of $0.63 to $0.64 for the period, compared to the consensus EPS estimate of $0.63. LXP Industrial Trust also updated its FY 2024 guidance to 0.630-0.640 EPS.

Analyst Ratings Changes

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

LXP Industrial Trust Price Performance

Shares of LXP Industrial Trust stock traded up $0.12 on Friday, hitting $9.71. 2,337,496 shares of the company traded hands, compared to its average volume of 2,224,326. The stock has a market capitalization of $2.86 billion, a P/E ratio of 161.00 and a beta of 0.88. The business has a 50-day simple moving average of $9.85 and a 200 day simple moving average of $9.47. 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.

LXP Industrial Trust Increases Dividend

The company 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 $0.135 dividend. This is an increase from LXP Industrial Trust’s previous quarterly dividend of $0.13. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $0.54 dividend on an annualized basis and a yield of 5.56%. LXP Industrial Trust’s payout ratio is presently 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.