LXP Industrial Trust (NYSE:LXP) Releases Earnings Results

Key Points

• LXP reported Q1 EPS of $0.80 and revenue of $85.95M (above the $81.57M consensus) despite Q1 revenue being down ~3.3% YoY, and management updated FY‑2026 EPS guidance to $3.22–$3.37.
• Leasing momentum is strong with 3.2 million sq ft of new leases/renewals YTD (including a 1.1M‑sq‑ft Greenville extension); management has addressed ~57% of 2026 expirations with average cash rent increases of ~25%, and development activity includes a started 1.2M‑sq‑ft Phoenix project and ~7.4M sq ft of potential leasing through 2027.
• The company paid a quarterly dividend of $0.70 (annualized $2.80, ~5.6% yield) but the payout ratio is an elevated 154.7%, shares traded down ~1.8% to $50.10, and the balance sheet shows net debt/EBITDA ~5.1x with $130M cash and a $600M undrawn revolver.

LXP Industrial Trust (NYSE:LXP - Get Free Report) posted its earnings results on Wednesday. The real estate investment trust reported $0.80 EPS for the quarter, Zacks reports. The firm had revenue of $85.95 million during the quarter, compared to the consensus estimate of $81.57 million. LXP Industrial Trust had a return on equity of 5.70% and a net margin of 32.27%.The company's quarterly revenue was down 3.3% compared to the same quarter last year. During the same period in the prior year, the company earned $0.16 EPS. LXP Industrial Trust updated its FY 2026 guidance to 3.220-3.370 EPS.

Here are the key takeaways from LXP Industrial Trust's conference call:

• 3.2 million sq ft of new leases and renewals YTD (including a 1.1M-sq-ft Greenville extension) and >300,000 sq ft of vacancy leased, showing clear leasing momentum and strong rent resets on large-format assets.
• Q1 adjusted company FFO was about $0.80 per share (+2.6% YoY) with same-store NOI +2%, management reiterated 2026 FFO guidance of $3.22–$3.37 and a healthy balance sheet (net debt / EBITDA ~5.1x, $130M cash, $600M revolver undrawn).
• Management has addressed ~57% of 2026 expirations (~3.7M sq ft) with an average cash rental increase of ~25%, but a few known move-outs (~550k sq ft) and timing of lease commencements mean Q2 same-store NOI is expected to be weaker before improving in H2.
• Development pipeline and land‑bank activity is active — construction started on the 1.2M‑sq‑ft Phoenix project, West Valley supply is now constrained, and management is in active discussions on ~7.4 million sq ft of development/redevelopment leasing through 2027.

LXP Industrial Trust Trading Down 1.8%

Shares of LXP Industrial Trust stock traded down $0.91 on Wednesday, hitting $50.10. 457,525 shares of the company traded hands, compared to its average volume of 596,666. The company has a current ratio of 0.24, a quick ratio of 0.24 and a debt-to-equity ratio of 0.18. The stock's 50 day moving average price is $48.47 and its 200-day moving average price is $48.45. The company has a market cap of $2.95 billion, a PE ratio of 27.68 and a beta of 1.09. LXP Industrial Trust has a 52 week low of $38.20 and a 52 week high of $52.52.

LXP Industrial Trust Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 15th. Stockholders of record on Tuesday, March 31st were paid a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a dividend yield of 5.6%. The ex-dividend date of this dividend was Tuesday, March 31st. LXP Industrial Trust's payout ratio is currently 154.70%.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the stock. JPMorgan Chase & Co. lowered their price target on shares of LXP Industrial Trust from $50.00 to $49.00 and set a "neutral" rating for the company in a report on Thursday, March 5th. Citigroup reaffirmed an "outperform" rating on shares of LXP Industrial Trust in a report on Friday, February 13th. Evercore set a $51.00 price target on shares of LXP Industrial Trust in a report on Friday, February 13th. Wall Street Zen raised shares of LXP Industrial Trust from a "sell" rating to a "hold" rating in a report on Sunday, April 5th. Finally, Weiss Ratings reaffirmed a "hold (c+)" rating on shares of LXP Industrial Trust in a research note on Friday, April 10th. Three research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, LXP Industrial Trust currently has an average rating of "Hold" and an average target price of $51.50.

Institutional Trading of LXP Industrial Trust

Several institutional investors and hedge funds have recently made changes to their positions in the company. Caitong International Asset Management Co. Ltd bought a new position in LXP Industrial Trust in the third quarter worth approximately $26,000. EverSource Wealth Advisors LLC lifted its position in LXP Industrial Trust by 101.7% during the second quarter. EverSource Wealth Advisors LLC now owns 3,481 shares of the real estate investment trust's stock valued at $29,000 after acquiring an additional 1,755 shares during the last quarter. Geneos Wealth Management Inc. lifted its position in LXP Industrial Trust by 82.0% during the second quarter. Geneos Wealth Management Inc. now owns 3,623 shares of the real estate investment trust's stock valued at $30,000 after acquiring an additional 1,632 shares during the last quarter. Corient Private Wealth LLC purchased a new stake in LXP Industrial Trust during the second quarter valued at approximately $90,000. Finally, CW Advisors LLC acquired a new position in shares of LXP Industrial Trust during the second quarter worth $112,000. 93.52% of the stock is currently owned by institutional investors.

About LXP Industrial Trust

LXP Industrial Trust is a real estate investment trust that specializes in the ownership, acquisition and management of industrial properties across North America. The company's portfolio consists of warehouses, distribution centers and manufacturing facilities designed to support supply-chain and logistics operations. By focusing on long-term leasing arrangements, LXP Industrial Trust aims to provide stable income streams while delivering value to tenants through modern, well-positioned industrial space.

The firm's primary business activities include sourcing and under-writing new property investments, overseeing development and redevelopment projects, and implementing asset-management strategies to enhance the performance of its holdings.

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