LXP Industrial Trust (NYSE:LXP) Releases FY24 Earnings Guidance

LXP Industrial Trust (NYSE:LXP) updated its FY24 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of $0.61-0.65 for the period, compared to the consensus estimate of $0.63.

Wall Street Analyst Weigh In

Separately, StockNews.com raised shares of LXP Industrial Trust from a sell rating to a hold rating in a research note on Thursday, April 25th.

LXP Industrial Trust Trading Up 0.6 %

LXP stock traded up $0.05 during trading on Thursday, hitting $8.50. The company had a trading volume of 355,346 shares, compared to its average volume of 2,381,340. The firm has a market capitalization of $2.50 billion, a P/E ratio of 105.51 and a beta of 0.82. LXP Industrial Trust has a 52-week low of $7.75 and a 52-week high of $10.75. The company has a 50 day simple moving average of $8.82 and a 200-day simple moving average of $8.92. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.20.

LXP Industrial Trust (NYSE:LXP) last posted its quarterly earnings results on Thursday, February 15th. The real estate investment trust reported $0.04 EPS for the quarter, missing the consensus estimate of $0.17 by ($0.13). The company had revenue of $83.00 million during the quarter, compared to analysts’ expectations of $83.74 million. LXP Industrial Trust had a return on equity of 1.37% and a net margin of 8.92%. The company’s quarterly revenue was up 2.3% on a year-over-year basis. During the same period in the prior year, the business earned $0.17 EPS. As a group, research analysts forecast that LXP Industrial Trust will post 0.64 earnings per share for the current fiscal year.

LXP Industrial Trust Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Thursday, March 28th were issued a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a yield of 6.12%. The ex-dividend date of this dividend was Wednesday, March 27th. LXP Industrial Trust’s payout ratio is 650.08%.

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.