LXP Industrial Trust (NYSE:LXP – Get Free Report) updated its FY24 earnings guidance on Wednesday. The company provided earnings per share guidance of $0.62-$0.65 for the period, compared to the consensus earnings per share estimate of $0.63. LXP Industrial Trust also updated its FY 2024 guidance to 0.620-0.650 EPS.
Analyst Ratings Changes
Several analysts have issued reports on the company. StockNews.com downgraded LXP Industrial Trust from a hold rating to a sell rating in a report on Friday, May 3rd. BNP Paribas began coverage on LXP Industrial Trust in a report on Tuesday, June 4th. They issued an outperform rating and a $11.00 target price on the stock. Evercore ISI upgraded LXP Industrial Trust to a hold rating in a report on Thursday. Finally, Jefferies Financial Group upped their target price on LXP Industrial Trust from $11.00 to $12.00 and gave the company a buy rating in a report on Friday, June 7th. One 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. Based on data from MarketBeat.com, the stock has an average rating of Hold and an average price target of $11.33.
View Our Latest Research Report on LXP
LXP Industrial Trust Stock Performance
LXP Industrial Trust Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Monday, July 15th. Investors of record on Friday, June 28th were given a $0.13 dividend. The ex-dividend date of this dividend was Friday, June 28th. This represents a $0.52 annualized dividend and a yield of 5.22%. LXP Industrial Trust’s dividend payout ratio (DPR) is currently 1,300.33%.
Insider Buying and Selling
In related news, Director Arun Gupta acquired 15,000 shares of the business’s stock in a transaction on Wednesday, June 12th. The stock was bought at an average cost of $8.95 per share, with a total value of $134,250.00. Following the completion of the acquisition, the director now owns 65,474 shares in the company, valued at $585,992.30. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 2.17% of the stock is owned by company insiders.
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.
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