LXP Industrial Trust (LXP) AI Stock Analysis

• Market Cap: $2.83B
• Dividend Yield: 5.33%
• Average Volume (3M): 526.53K
• Price to Earnings (P/E): 26.4
• Beta (1Y): 0.62
• Revenue Growth: 6.98%
• EPS Growth: 465.32%
• Country: US
• Employees: 59
• Sector: Real Estate
• Sector Strength: 53
• Industry: REIT - Industrial
• EPS (TTM): 0.46
• Shares Outstanding: 59,077,038
• 10 Day Avg. Volume: 699,143
• 30 Day Avg. Volume: 526,527
• PEG Ratio: 0.14
• Price to Book (P/B): 1.42
• Price to Sales (P/S): 8.27
• P/FCF Ratio: 17.67
• Enterprise Value/Market Cap: 1.44
• Enterprise Value/Revenue: 11.62
• Enterprise Value/Gross Profit: -37.88
• Enterprise Value/Ebitda: 12.73
• 1Y Price Target: $54.00
• Price Target Upside: 11.34% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 4
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 68 Neutral
• Price Target: $56.00 ▲(15.46% Upside)
• Action: Downgraded Date: 02/13/26
• Date: Action: Downgraded 02/13/26

The score is driven primarily by solid cash-flow resilience and a constructive earnings outlook (FFO growth, deleveraging, occupancy/leasing progress). Technicals also support the rating with price above major moving averages and positive momentum. Offsetting factors are uneven underlying profitability (negative 2025 EBITDA) and only fair valuation given the elevated P/E despite a strong dividend yield.

Positive Factors

Stable cash generation

Consistent positive operating and free cash flow supports durable dividend coverage and internal capital allocation. Reliable cash conversion reduces reliance on external financing, enabling funding for development, dispositions and buybacks while cushioning cyclical leasing variability over the next 2–6 months.

Balance sheet deleveraging & liquidity

Material debt paydown, extended maturities and lower borrowing spreads materially reduce refinancing and interest-rate risk. Higher liquidity and an S&P outlook revision to positive improve capital flexibility, enabling disciplined dispositions, targeted development and opportunistic repurchases without stressing near-term solvency.

Leasing momentum & mark-to-market upside

High leasing volume, elevated occupancy and sizable cash mark-to-market gains indicate structural rent reversion potential. With in-place rents materially below market on expirations through 2030, the portfolio has a multi-year pipeline to lift NOI as leases roll and development stabilizes, supporting FFO durability.

Negative Factors

Operating profitability volatility

A negative 2025 EBITDA and collapsing operating profit point to earnings-quality risk: non-cash items or one-offs are masking operating weakness. This volatility undermines predictability of core cash returns and complicates assessment of sustainable FFO and dividend coverage across economic cycles.

Earnings drag from cash redeployment

While strategic, excess cash and planned redeployment into a multi-year Phoenix development suppress near-term yield and FFO. Capital tied to development will take time to stabilize (projected completion 2027), creating a temporary earnings headwind and execution risk before projected higher yields materialize.

Leasing execution friction & known vacancies

Slower deal conversions and specific known move-outs (including a 121k and a 230k sq ft lease expiration) create vacancy and CapEx needs (Tampa requires renovations). Prolonged leasing cycles increase downtime and concessions, pressuring same-store NOI and delaying mark-to-market capture.

LXP Industrial Trust Business Overview & Revenue Model

Company Description

Lexington Realty Trust (NYSE: LXP) is a publicly traded real estate investment trust (REIT) that owns a portfolio of real estate assets consisting primarily of equity investments in single-tenant net-leased industrial properties across the United States. Lexington seeks to expand its industrial portfolio through build-to-suit transactions, sale-leaseback transactions and other transactions, including acquisitions.

How the Company Makes Money

LXP Industrial Trust generates revenue primarily through leasing its industrial properties to tenants under long-term, net lease agreements. These leases typically require tenants to cover property expenses such as maintenance, taxes, and insurance, allowing LXP to collect a significant portion of the rent as profit. The company's revenue model is bolstered by its focus on high-quality properties in strategic locations, which attract stable, creditworthy tenants. Additionally, LXP may realize earnings through property dispositions or acquisitions, capitalizing on favorable market conditions. Strategic partnerships with real estate brokers and investment firms can also enhance LXP's ability to identify and secure lucrative property deals, contributing further to its revenue streams.

LXP Industrial Trust Financial Statement Overview

Summary

Strong and consistently positive operating cash flow/free cash flow supports stability, but profitability quality is mixed: 2025 shows very weak operating profit and negative EBITDA despite higher net income. Balance sheet appears historically reasonable, yet the 2025 debt discontinuity reduces confidence in trend assessment.

Income Statement

Revenue has been relatively stable over the cycle but has softened recently, with 2025 revenue down about 4% year over year after modest growth in 2023–2024. Profitability is volatile: net income improved sharply in 2025, but operating profit collapsed (very low EBIT) and 2025 EBITDA is negative, which is a meaningful quality-of-earnings red flag versus prior years where operating profitability looked solid. Overall, the top line is steady, but earnings consistency and operating performance are uneven.

Balance Sheet

Leverage looked moderate in 2020–2024 (debt-to-equity roughly in the 0.6–0.75 range), consistent with a typical REIT capital structure, and equity remains sizeable. 2025 shows total debt reported as zero, which is a major swing versus prior years and suggests either a significant deleveraging event or data inconsistency—either way it makes trend interpretation less reliable. Asset base and equity are large relative to revenue, supporting balance-sheet capacity, but returns on equity have been low in most years outside of outliers.

Cash Flow

Cash generation is a clear strength: operating cash flow and free cash flow have been consistently positive across the period. In 2024, operating cash flow covered net income by about 1.6x and free cash flow was close to net income, indicating solid earnings-to-cash conversion; 2023 was similarly strong. The main weakness is growth: free cash flow declined in 2025 (down ~16%) after being roughly flat in 2024, pointing to some recent pressure despite still-healthy absolute cash flow.

Breakdown	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	350.23M	358.46M	340.50M	321.25M	344.00M
Gross Profit	-107.40M	105.08M	98.58M	85.81M	119.54M
EBITDA	373.98M	257.96M	272.32M	227.57M	260.79M
Net Income	113.16M	44.53M	30.38M	113.78M	382.65M
Balance Sheet
Total Assets	3.54B	3.84B	4.19B	4.05B	4.01B
Cash, Cash Equivalents and Short-Term Investments	170.39M	101.84M	329.39M	54.39M	190.93M
Total Debt	1.37B	1.46B	1.66B	1.39B	1.40B
Total Liabilities	1.49B	1.72B	1.93B	1.66B	1.68B
Stockholders Equity	2.04B	2.10B	2.23B	2.35B	2.29B
Cash Flow
Free Cash Flow	163.81M	193.41M	191.51M	161.71M	205.14M
Operating Cash Flow	188.72M	211.19M	209.45M	194.27M	220.35M
Investing Cash Flow	298.20M	86.40M	-183.45M	-236.92M	-337.76M
Financing Cash Flow	-418.34M	-394.98M	118.96M	-93.87M	129.10M

LXP Industrial Trust Technical Analysis

• Technical Analysis Sentiment: Neutral
• Last Price: 48.50
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For LXP, the sentiment is Neutral. The current price of 48.5 is below the 20-day moving average (MA) of 49.50, below the 50-day MA of 49.88, and above the 200-day MA of 45.19, indicating a neutral trend. The MACD of -0.45 indicates Positive momentum. The RSI at 44.27 is Neutral, neither overbought nor oversold. The STOCH value of 27.57 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for LXP.

LXP Industrial Trust Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
TRNO	75 Outperform	$6.84B	16.80	10.28%	3.38%	21.13%	74.37%
STAG	71 Outperform	$7.30B	26.16	7.75%	4.02%	9.62%	31.08%
LXP	68 Neutral	$2.83B	26.38	5.45%	5.33%	6.98%	465.32%
FR	67 Neutral	$8.25B	32.37	9.27%	2.98%	9.66%	-23.17%
Sector *	65 Neutral	$2.17B	12.19	3.79%	4.94%	3.15%	1.96%
REXR	64 Neutral	$8.63B	43.24	2.50%	4.30%	10.27%	15.25%

LXP Industrial Trust Corporate Events

LXP Industrial Trust Highlights Strong Quarter and Balance Sheet

LXP Industrial Trust reported fourth-quarter 2025 net income attributable to common shareholders of $27.1 million, or $0.46 per diluted share, and Adjusted Company FFO of $47.0 million, or $0.79 per diluted share, with full-year 2025 net income of $106.5 million and Adjusted Company FFO of $187.3 million. The trust lifted same-store NOI by 2.9% for 2025, raised stabilized portfolio occupancy to 97.1% and completed 3.8 million square feet of second-generation leases and extensions, driving base and cash base rent increases of nearly 30% excluding fixed-rate renewals.

Operationally, LXP executed 2.1 million square feet of new leases and extensions in the fourth quarter, leased a 1.1 million square foot development at an initial cash base rent of $5.50 per square foot and commenced redevelopment of two warehouse facilities totaling 603,000 square feet in Central Florida and Richmond, Virginia. The trust also acquired a $30 million Atlanta warehouse, disposed of 11 non-core facilities for $389.1 million, reduced net debt to Adjusted EBITDA to 4.9x through $218.1 million of debt repayments and completed a 1-for-5 reverse stock split on November 10, 2025.

Further strengthening its balance sheet and capital flexibility, LXP repaid $140 million of 6.75% senior notes due 2028, extended maturities and lowered pricing on its $600 million unsecured revolver and $250 million term loan, and repurchased about 277,000 common shares in December 2025 and January 2026. The company maintained regular common and preferred dividends tied to the quarter ended December 31, 2025, while management highlighted that the year’s leasing momentum, property sales and market exits have positioned LXP to focus in 2026 on strategic capital deployment, opportunistic share repurchases and further leasing of remaining vacancies.

The most recent analyst rating on (LXP) stock is a Buy with a $56.00 price target. To see the full list of analyst forecasts on LXP Industrial Trust stock, see the LXP Stock Forecast page.

LXP Industrial Trust Expands Credit Facility, Refinances Term Loan

On January 13–14, 2026, LXP Industrial Trust closed a $600 million senior unsecured revolving credit facility that amends and restates its prior revolver, extending the maturity to January 31, 2030 with extension options while lowering the interest margin to SOFR plus 77.5 basis points and reducing the facility fee to 15 basis points. The company also refinanced its $250 million unsecured term loan with an initial maturity of January 31, 2029 and two one-year extension options, cutting pricing to SOFR plus 85 basis points; management said the transactions extend LXP’s debt maturity profile, reduce interest costs and strengthen its balance sheet following 2025 leverage reduction and a recent S&P Global Ratings outlook revision to positive, enhancing financial flexibility for the industrial REIT and its stakeholders.

The most recent analyst rating on (LXP) stock is a Buy with a $62.00 price target. To see the full list of analyst forecasts on LXP Industrial Trust stock, see the LXP Stock Forecast page.