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

LXP Industrial Trust (NYSE:LXP) updated its FY 2024 earnings guidance on Wednesday. The company provided earnings per share guidance of 0.630-0.640 for the period, compared to the consensus earnings per share 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.

Wall Street Analyst Weigh In

Separately, Evercore ISI upped their target price on 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 equities research analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $11.25.

LXP Industrial Trust Stock Up 1.0 %

LXP Industrial Trust stock traded up $0.10 during trading on Friday, hitting $9.68. 328,629 shares of the company were exchanged, compared to its average volume of 2,214,952. The company has a current ratio of 0.11, a quick ratio of 0.11 and a debt-to-equity ratio of 0.21. The business’s 50 day moving average is $9.85 and its 200 day moving average is $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 market capitalization of $2.85 billion, a P/E ratio of 161.00 and a beta of 0.88.

LXP Industrial Trust Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be issued a $0.135 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $0.54 annualized dividend and a dividend yield of 5.58%. This is an increase from LXP Industrial Trust’s previous quarterly dividend of $0.13. LXP Industrial Trust’s dividend payout ratio is currently 900.00%.

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.