LXP Industrial Trust (LXP)
NYSE:LXP
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LXP Industrial Trust
(NYSE:LXP)
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Rating:68Neutral
Price Target:
$56.00
â–²(12.86% Upside)
Action:DowngradedDate: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.
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.
Read all positive and negative factors
Positive Factors
Negative 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.
Read all positive factors
LXP Industrial Trust (LXP) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$2.93B
Dividend Yield5.33%
Average Volume (3M)615.88K
Price to Earnings (P/E)25.6
Beta (1Y)0.63
Revenue Growth6.98%
EPS Growth465.32%
CountryUS
Employees59
SectorReal Estate
Sector Strength53
IndustryREIT - Industrial
Share Statistics
EPS (TTM)0.46
Shares Outstanding59,077,038
10 Day Avg. Volume521,302
30 Day Avg. Volume615,884
Financial Highlights & Ratios
PEG Ratio0.14
Price to Book (P/B)1.42
Price to Sales (P/S)8.27
P/FCF Ratio17.67
Enterprise Value/Market Cap1.41
Enterprise Value/Revenue11.79
Enterprise Value/Gross Profit-38.46
Enterprise Value/Ebitda12.92
Forecast
1Y Price Target
$52.75Price Target Upside6.31% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering4
EPS Forecast (FY)0.13
Revenue Forecast (FY)$331.36M
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 ...
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 insuranc...
LXP Industrial Trust Key Performance Indicators (KPIs)
LXP Industrial Trust Earnings Call Summary
Earnings Call Date:Feb 12, 2026
(Q4-2025)
| % Change Since: |
Next Earnings Date:Apr 29, 2026
Earnings Call Sentiment Positive
The call emphasizes meaningful progress on strategic priorities—material deleveraging, occupancy gains, strong leasing volume with significant mark-to-market upside, disciplined dispositions, and an active development pipeline (notably the Phoenix project). Operational headwinds are relatively modest: same-store NOI was slightly below prior guidance due to a small expense leakage and lower same-store occupancy, some execution friction on converting RFP activity into signed deals, a couple of known move-outs (one of which is assumed vacant in 2026), and a conservative credit loss/time-lag impact from holding cash and redeploying proceeds into development. Taken together, the positives (balance sheet improvement, leasing/occupancy momentum, FFO growth guidance, development economics and disposition execution) materially outweigh the limited near-term drags and execution challenges.Positive Updates
Balance Sheet Strength and Deleveraging
Net debt to adjusted EBITDA reduced from 5.9x to 4.9x; repaid approximately $220,000,000 of debt in 2025 (including $140,000,000 of 6.75% senior notes); recast $600,000,000 revolver and $250,000,000 term loan extending maturities to Jan 2030 and Jan 2029 and reducing interest costs; S&P revised outlook to positive; cash on hand approximately $170,000,000.
Negative Updates
Same-Store NOI Growth Miss and Occupancy Drag
Full-year same-store NOI growth of 2.9% (Q4 same-store NOI flat) came in slightly below prior guidance (3.0%–3.5%); same-store occupancy declined to 97.3% from 99.5% a year earlier, contributing to the slowdown.
Read all updates
Q4-2025 Updates
Positive
Negative
Balance Sheet Strength and Deleveraging
Net debt to adjusted EBITDA reduced from 5.9x to 4.9x; repaid approximately $220,000,000 of debt in 2025 (including $140,000,000 of 6.75% senior notes); recast $600,000,000 revolver and $250,000,000 term loan extending maturities to Jan 2030 and Jan 2029 and reducing interest costs; S&P revised outlook to positive; cash on hand approximately $170,000,000.
Read all positive updates
Company Guidance
Management guided 2026 adjusted company FFO of $3.22–$3.37 per common share (about 4.6% growth at the midpoint versus 2025 adjusted FFO of $3.15), assuming Q4 disposition proceeds are redeployed into the Phoenix development and with no other dispositions or investment activity included; same‑store NOI is projected at 1.5%–2.5% (midpoint 2%), composed of roughly +3.25% from contractual escalators/renewals (contractual bumps ~2.8%) offset by a −1.25% vacancy/concession drag, with average same‑store occupancy assumed at 96%–97% (vs just over 97% in 2025). The low end of the FFO and same‑store guidance includes $500,000 of credit loss, G&A is expected to be $39M–$41M, and the outlook reflects a strong balance sheet (net debt to adjusted EBITDA 4.9x) and portfolio dynamics (in‑place rents ~16% below market on expirations through 2030).LXP Industrial Trust Financial Statement Overview
Summary
Income Statement
53
Neutral
Balance Sheet
68
Positive
Cash Flow
74
Positive
| 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
Positive
49.62
Price Trends
47.72
Positive
47.87
Positive
45.17
Positive
Market Momentum
0.13
Negative
65.71
Neutral
95.34
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For LXP, the sentiment is Positive. The current price of 49.62 is above the 20-day moving average (MA) of 46.72, above the 50-day MA of 47.72, and above the 200-day MA of 45.17, indicating a bullish trend. The MACD of 0.13 indicates Negative momentum. The RSI at 65.71 is Neutral, neither overbought nor oversold. The STOCH value of 95.34 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for LXP.
LXP Industrial Trust Risk Analysis
LXP Industrial Trust disclosed 42 risk factors in its most recent earnings report. LXP Industrial Trust reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
LXP Industrial Trust Peers Comparison
UnderperformOutperform
Sector (65)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
75 Outperform | $6.94B | 14.93 | 10.09% | 3.38% | 21.13% | 74.37% | |
71 Outperform | $7.25B | 25.24 | 7.85% | 4.02% | 9.62% | 31.08% | |
71 Outperform | $8.26B | 24.05 | 9.32% | 2.98% | 9.66% | -23.17% | |
68 Neutral | $2.93B | 25.58 | 5.49% | 5.33% | 6.98% | 465.32% | |
66 Neutral | $7.95B | 42.45 | 2.44% | 4.30% | 10.27% | 15.25% | |
65 Neutral | $2.17B | 12.19 | 3.79% | 4.94% | 3.15% | 1.96% |
* Real Estate Sector Average
LXP
LXP Industrial Trust
49.62
14.08
39.63%
STAG
Stag Industrial
37.90
7.74
25.68%
TRNO
Terreno Realty
65.29
12.55
23.81%
FR
First Industrial Realty
60.47
16.37
37.11%
REXR
Rexford Industrial Realty
34.28
3.26
10.52%
LXP Industrial Trust Corporate Events
Business Operations and StrategyStock BuybackDividendsFinancial DisclosuresStock Split
LXP Industrial Trust Highlights Strong Quarter and Balance Sheet
Positive
Feb 12, 2026
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...
Business Operations and StrategyPrivate Placements and Financing
LXP Industrial Trust Expands Credit Facility, Refinances Term Loan
Positive
Jan 14, 2026
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 i...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.