LXP Industrial Trust (NYSE:LXP) Issues Quarterly Earnings Results, Beats Estimates By $0.18 EPS

LXP Industrial Trust (NYSE:LXP) released its earnings results on Thursday. The real estate investment trust reported $0.16 earnings per share for the quarter, beating the consensus estimate of ($0.02) by $0.18, Zacks reports. The firm had revenue of $100.85 million during the quarter, compared to analyst estimates of $84.57 million. LXP Industrial Trust had a net margin of 7.64% and a return on equity of 1.24%. LXP Industrial Trust updated its FY 2024 guidance to 0.610-0.650 EPS.

LXP Industrial Trust Stock Performance

LXP traded down $0.06 during trading on Friday, reaching $8.49. 1,946,249 shares of the company were exchanged, compared to its average volume of 1,942,581. LXP Industrial Trust has a 52 week low of $7.65 and a 52 week high of $10.56. The company has a current ratio of 0.12, a quick ratio of 0.12 and a debt-to-equity ratio of 0.21. The firm has a 50 day moving average of $8.37 and a 200 day moving average of $9.28. The stock has a market cap of $2.50 billion, a P/E ratio of 141.46 and a beta of 0.89.

Analyst Upgrades and Downgrades

Separately, JMP Securities reaffirmed a “market perform” rating on shares of LXP Industrial Trust in a report on Friday. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $11.33.

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.