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

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

Wall Street Analyst Weigh In

Separately, StockNews.com lowered LXP Industrial Trust from a hold rating to a sell rating in a research note on Friday.

LXP Industrial Trust Price Performance

LXP traded up $0.12 during trading on Friday, hitting $8.72. The company’s stock had a trading volume of 1,946,696 shares, compared to its average volume of 2,778,062. The firm’s 50 day moving average price is $8.82 and its two-hundred day moving average price is $8.92. The company has a quick ratio of 0.29, a current ratio of 0.27 and a debt-to-equity ratio of 0.20. LXP Industrial Trust has a 12 month low of $7.75 and a 12 month high of $10.75. The stock has a market capitalization of $2.57 billion, a price-to-earnings ratio of 218.05 and a beta of 0.82.

LXP Industrial Trust (NYSE:LXP) last issued its quarterly earnings data on Thursday, February 15th. The real estate investment trust reported $0.04 earnings per share (EPS) for the quarter, missing the consensus estimate 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 in the previous year, the firm posted $0.17 EPS. The company’s revenue for the quarter was up 2.3% compared to the same quarter last year. Sell-side analysts forecast that LXP Industrial Trust will post 0.64 earnings per share for the current fiscal year.

LXP Industrial Trust Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Thursday, March 28th were given a dividend of $0.13 per share. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 5.96%. LXP Industrial Trust’s payout ratio is currently 1,300.33%.

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.