LXP Industrial Trust (NYSE:LXP) Releases Earnings Results, Beats Expectations By $0.18 EPS

LXP Industrial Trust (NYSE:LXP) posted its quarterly earnings data on Thursday. The real estate investment trust reported $0.16 earnings per share for the quarter, topping 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 Up 3.1 %

Shares of LXP stock traded up $0.26 on Thursday, reaching $8.43. 1,402,766 shares of the stock were exchanged, compared to its average volume of 2,063,440. The company has a current ratio of 0.12, a quick ratio of 0.12 and a debt-to-equity ratio of 0.21. The business’s 50 day moving average price is $8.38 and its 200 day moving average price is $9.29. The company has a market capitalization of $2.48 billion, a price-to-earnings ratio of 140.77 and a beta of 0.89. LXP Industrial Trust has a twelve month low of $7.65 and a twelve month high of $10.56.

Analysts Set New Price Targets

Separately, JMP Securities reaffirmed a “market perform” rating on shares of LXP Industrial Trust in a research report on Friday, December 20th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target 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.