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

LXP Industrial Trust (NYSE:LXP) updated its FY24 earnings guidance on Wednesday. The company provided EPS guidance of $0.63 to $0.64 for the period, compared to the consensus EPS estimate of $0.63. LXP Industrial Trust also updated its FY 2024 guidance to 0.630-0.640 EPS.

Analysts Set New Price Targets

Separately, Evercore ISI raised their target price on LXP Industrial Trust from $10.00 to $11.00 and gave the company an “in-line” rating in a research report on Monday, September 16th. One research analyst has rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $11.25.

LXP Industrial Trust Price Performance

Shares of LXP Industrial Trust stock traded up $0.12 on Friday, hitting $9.71. The company had a trading volume of 2,337,496 shares, compared to its average volume of 2,224,326. LXP Industrial Trust has a 52 week low of $8.08 and a 52 week high of $10.56. The company has a market cap of $2.86 billion, a PE ratio of 161.00 and a beta of 0.88. The business has a 50-day simple moving average of $9.85 and a 200-day simple moving average of $9.47. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.11 and a quick ratio of 0.11.

LXP Industrial Trust Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be given a dividend of $0.135 per share. The ex-dividend date is Tuesday, December 31st. This is a boost from LXP Industrial Trust’s previous quarterly dividend of $0.13. This represents a $0.54 annualized dividend and a dividend yield of 5.56%. LXP Industrial Trust’s dividend payout ratio (DPR) is 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.