LXP Industrial Trust (NYSE:LXP – Get Free Report) updated its FY24 earnings guidance on Thursday. The company provided EPS guidance of $0.61-0.65 for the period, compared to the consensus EPS estimate of $0.63.
Wall Street Analysts Forecast Growth
Separately, StockNews.com cut LXP Industrial Trust from a hold rating to a sell rating in a report on Friday.
View Our Latest Stock Report on LXP
LXP Industrial Trust Trading Up 1.4 %
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 earnings per share for the quarter, missing the consensus estimate of $0.17 by ($0.13). The company had revenue of $83.00 million during the quarter, compared to analyst estimates of $83.74 million. LXP Industrial Trust had a net margin of 5.52% and a return on equity of 0.86%. The firm’s revenue for the quarter was up 2.3% on a year-over-year basis. During the same quarter last year, the business posted $0.17 EPS. On average, analysts anticipate that LXP Industrial Trust will post 0.64 earnings per share for the current year.
LXP Industrial Trust Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Thursday, March 28th were issued a $0.13 dividend. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $0.52 annualized dividend and a dividend yield of 5.96%. LXP Industrial Trust’s dividend payout ratio is presently 1,300.33%.
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.
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