LXP Industrial Trust (NYSE:LXP – Get Free Report) issued an update on its FY24 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of $0.61-0.65 for the period, compared to the consensus estimate of $0.63.
Analyst Ratings Changes
Separately, StockNews.com lowered shares of LXP Industrial Trust from a hold rating to a sell rating in a research note on Friday.
Read Our Latest Report on LXP Industrial Trust
LXP Industrial Trust Stock Performance
LXP Industrial Trust (NYSE:LXP – Get Free Report) last posted its quarterly earnings results on Thursday, February 15th. The real estate investment trust reported $0.04 earnings per share for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.13). LXP Industrial Trust had a net margin of 5.52% and a return on equity of 0.86%. The business had revenue of $83.00 million during the quarter, compared to the consensus estimate of $83.74 million. During the same quarter last year, the company posted $0.17 EPS. The firm’s revenue was up 2.3% on a year-over-year basis. Research analysts predict that LXP Industrial Trust will post 0.64 earnings per share for the current year.
LXP Industrial Trust Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Thursday, March 28th were issued a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a dividend yield of 5.96%. The ex-dividend date was Wednesday, March 27th. LXP Industrial Trust’s payout ratio is 1,300.33%.
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.
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