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

LXP Industrial Trust (NYSE:LXP) released its quarterly earnings results on Thursday. The real estate investment trust reported $0.16 earnings per share (EPS) for the quarter, beating the consensus estimate 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 Price Performance

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

Analyst Upgrades and Downgrades

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

LXP Industrial Trust Company Profile

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.