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

LXP Industrial Trust (NYSE:LXP - Get Free Report) issued an update on its FY24 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of $0.61-0.65 for the period, compared to the consensus estimate of $0.63.

LXP Industrial Trust Trading Up 1.7 %

Shares of LXP traded up $0.14 during trading hours on Thursday, reaching $8.59. The stock had a trading volume of 3,044,519 shares, compared to its average volume of 2,410,292. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.20. LXP Industrial Trust has a 52 week low of $7.75 and a 52 week high of $10.75. The firm has a 50-day moving average of $8.82 and a 200 day moving average of $8.92. The company has a market cap of $2.53 billion, a P/E ratio of 107.39 and a beta of 0.82.

LXP Industrial Trust (NYSE:LXP - Get Free Report) 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). LXP Industrial Trust had a return on equity of 1.37% and a net margin of 8.92%. The firm had revenue of $83.00 million for the quarter, compared to the consensus estimate of $83.74 million. During the same quarter last year, the company posted $0.17 EPS. LXP Industrial Trust's revenue for the quarter was up 2.3% on a year-over-year basis. On average, sell-side analysts expect 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 declared a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Thursday, March 28th were paid a $0.13 dividend. This represents a $0.52 annualized dividend and a dividend yield of 6.05%. The ex-dividend date of this dividend was Wednesday, March 27th. LXP Industrial Trust's dividend payout ratio is 650.08%.

Analysts Set New Price Targets

Separately, StockNews.com raised LXP Industrial Trust from a sell rating to a hold rating in a research note on Thursday, April 25th.

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.