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

LXP Industrial Trust (NYSE:LXP) issued an update on its FY24 earnings guidance on Thursday morning. 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.

LXP Industrial Trust Stock Performance

Shares of NYSE:LXP traded up $0.12 during trading on Friday, reaching $8.72. The company had a trading volume of 1,946,696 shares, compared to its average volume of 2,778,062. The firm has a market capitalization of $2.57 billion, a price-to-earnings ratio of 218.05 and a beta of 0.82. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.27 and a quick ratio of 0.29. The stock’s fifty day moving average price is $8.82 and its 200 day moving average price is $8.92. LXP Industrial Trust has a fifty-two week low of $7.75 and a fifty-two week high of $10.75.

LXP Industrial Trust (NYSE:LXP) last released its earnings results on Thursday, February 15th. The real estate investment trust reported $0.04 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.13). The company had revenue of $83.00 million during the quarter, compared to analyst estimates of $83.74 million. LXP Industrial Trust had a net margin of 5.52% and a return on equity of 0.86%. The company’s revenue for the quarter was up 2.3% on a year-over-year basis. During the same period in the previous year, the firm posted $0.17 EPS. As a group, equities research analysts predict that LXP Industrial Trust will post 0.64 EPS for the current year.

LXP Industrial Trust Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Thursday, March 28th were paid a $0.13 dividend. The ex-dividend date 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 dividend payout ratio (DPR) is presently 1,300.33%.

Analyst Ratings Changes

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

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.