Lxp Industrial Trust Up 1.27% To $7.95 After Earnings

Tuesday, October 31, 2023 - Lxp Industrial Trust (LXP) reported upside earnings and downside revenues.

Lxp Industrial Trust earnings per share (EPS) came in at of $0.18. Lxp Industrial Trust's earnings rose 6% year-over-year as the firm reported an EPS of $0.17 in its year-ago quarter. The positive annual growth shows the Real Estate company is performing well amid recent economic conditions.

Revenues were downbeat at $85.4 million. That is an increase of 6.66% in revenues from the year-ago report and is 0.23% lower than consensus estimates set at $85.6 million.

The stock is up 1.27% to $7.95 after the report.

The firm's higher revenue growth to earnings signals that the firm has not been able to reduce costs and has seen its profit margin decrease.

The average recommendation from Wall Street analysts was a Buy which may get revised based on this new data.

InvestorsObserver gives the stock a Bearish Sentiment score at the moment based on recent trading.

Lxp Industrial Trust has performed a little below average during the past few months. Before the report, Lxp Industrial Trust received a Long-Term Technical Rank by InvestorsObserver of 33, putting it in the bottom half of stocks. The firm was recently trading at a 52-week low of $7.75 on October 30, 2023 and set a 52-week high on February 2, 2023 at $11.92.

LXP Industrial Trust is a real estate investment trust principally involved in the ownership of equity and debt investments in single-tenant properties and land throughout the United States. Lexington primarily owns office and industrial properties. In terms of total square footage, the vast majority of the company's real estate portfolio comprises industrial and office space. Lexington derives almost all of its revenue from rental income. The vast majority of its revenue comes from its Industrial property holdings.