LXP Industrial Trust (NYSE:LXP – Get Free Report) updated its FY24 earnings guidance on Thursday. 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.
Analysts Set New Price Targets
Separately, StockNews.com raised shares of LXP Industrial Trust from a sell rating to a hold rating in a research report on Thursday, April 25th.
LXP Industrial Trust Trading Up 0.6 %
LXP Industrial Trust (NYSE:LXP – Get Free Report) last posted 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). LXP Industrial Trust had a return on equity of 1.37% and a net margin of 8.92%. The company had revenue of $83.00 million during the quarter, compared to analysts’ expectations of $83.74 million. During the same period in the prior year, the business posted $0.17 earnings per share. The company’s revenue for the quarter was up 2.3% on a year-over-year basis. Equities analysts anticipate that LXP Industrial Trust will post 0.64 earnings per share for the current fiscal 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 annualized dividend and a dividend yield of 6.12%. LXP Industrial Trust’s payout ratio is 650.08%.
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.
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