LXP Industrial Trust (NYSE:LXP) Announces Quarterly Earnings Results

LXP Industrial Trust (NYSE:LXP) announced its quarterly earnings results on Thursday. The real estate investment trust reported $0.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.18, Zacks reports. LXP Industrial Trust had a return on equity of 1.24% and a net margin of 7.64%. LXP Industrial Trust updated its FY 2024 guidance to 0.610-0.650 EPS.

LXP Industrial Trust Stock Performance

Shares of LXP stock opened at $8.49 on Friday. The stock has a market cap of $2.50 billion, a PE ratio of 141.46 and a beta of 0.89. The business has a 50-day simple moving average of $8.37 and a 200-day simple moving average of $9.28. The company has a quick ratio of 0.12, a current ratio of 0.12 and a debt-to-equity ratio of 0.21. LXP Industrial Trust has a 52-week low of $7.65 and a 52-week high of $10.56.

Analysts Set New Price Targets

Separately, JMP Securities reiterated a “market perform” rating on shares of LXP Industrial Trust in a report on Friday. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $11.33.

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.