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

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

LXP Industrial Trust Trading Up 1.4 %

NYSE:LXP traded up $0.12 during trading hours on Friday, reaching $8.72. 1,946,696 shares of the stock were exchanged, compared to its average volume of 2,778,062. The company 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 quick ratio of 0.29, a current ratio of 0.27 and a debt-to-equity ratio of 0.20. LXP Industrial Trust has a twelve month low of $7.75 and a twelve month high of $10.75. The business has a 50-day moving average of $8.82 and a two-hundred day moving average of $8.92.

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

LXP Industrial Trust Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Thursday, March 28th were given a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a dividend yield of 5.96%. The ex-dividend date of this dividend was Wednesday, March 27th. LXP Industrial Trust’s dividend payout ratio is presently 1,300.33%.

Wall Street Analysts Forecast Growth

Separately, StockNews.com downgraded shares of 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.