LXP Industrial Trust (LXP)
NYSE:LXP
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LXP Industrial Trust
(NYSE:LXP)
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Rating:67Neutral
Price Target:
$54.00
â–²(4.53% Upside)
Action:ReiteratedDate:04/30/26
The score reflects stable-to-decent fundamentals driven by solid cash generation and manageable leverage, but tempered by sharp TTM revenue decline and negative gross profit. Technicals are supportive with a clear uptrend, while valuation is mixed (strong yield but a higher P/E). The latest earnings call adds a positive tilt due to maintained guidance, strong leasing and liquidity, balanced against vacancy and near-term NOI timing risks.
Positive Factors
Strong cash generation
Consistent, sizable free cash flow and high conversion versus net income provide durable internal funding for dividends, development, buybacks, and debt servicing. This cash generation lowers reliance on capital markets and supports operational resilience through cyclical leasing and funding of strategic redevelopments.
Negative Factors
Sharp revenue decline and negative gross profit
A large TTM revenue drop and negative property-level gross profit signal operational strain, likely from dispositions or lease timing. Persistent negative gross profit would erode the foundation for sustainable NOI and FFO, making long-term dividend coverage and cash returns more dependent on continued asset rotation and leasing success.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong cash generation
Consistent, sizable free cash flow and high conversion versus net income provide durable internal funding for dividends, development, buybacks, and debt servicing. This cash generation lowers reliance on capital markets and supports operational resilience through cyclical leasing and funding of strategic redevelopments.
Read all positive factors
LXP Industrial Trust (LXP) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$3.00B
Dividend Yield5.33%
Average Volume (3M)627.33K
Price to Earnings (P/E)25.6
Beta (1Y)0.68
Revenue Growth-3.81%
EPS Growth52.53%
CountryUS
Employees59
SectorReal Estate
Sector Strength53
IndustryREIT - Industrial
Share Statistics
EPS (TTM)-0.03
Shares Outstanding58,957,523
10 Day Avg. Volume639,104
30 Day Avg. Volume627,332
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 Cap0.94
Enterprise Value/Revenue8.14
Enterprise Value/Gross Profit-47.59
Enterprise Value/Ebitda8.91
Forecast
1Y Price Target
$53.25Price Target Upside3.08% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering5
EPS Forecast (FY)0.09
Revenue Forecast (FY)$332.85M
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 primarily makes money by leasing its industrial properties to tenants and collecting contractual rent. Its main revenue stream is rental income earned under lease agreements (typically including base rent and, where applicable...
LXP Industrial Trust Key Performance Indicators (KPIs)
Any
Number of Properties
The count of properties shows portfolio diversification and operational scale: more assets can reduce the impact of any single vacancy and enable economies of scale, while a smaller portfolio raises concentration risk and sensitivity to individual property performance.
The count of properties shows portfolio diversification and operational scale: more assets can reduce the impact of any single vacancy and enable economies of scale, while a smaller portfolio raises concentration risk and sensitivity to individual property performance.
Data provided by:
The Fly
The FlyLXP Industrial Trust Earnings Call Summary
Earnings Call Date:Apr 29, 2026
(Q1-2026)
| % Change Since: |
Next Earnings Date:Aug 05, 2026
Earnings Call Sentiment Positive
The call conveyed strong operational momentum: solid leasing activity (notably in large-format space), positive mark-to-market rent increases, healthy occupancy levels, modest FFO growth (2.6% YoY), maintenance of full-year guidance, and robust liquidity. Near-term risks include timing-related headwinds to same-store NOI in Q2, about 1.8M sq ft of vacancy (estimated at $0.32 per share), and several known move-outs (~550k sq ft in H2 2026) that require successful leasing to meet guidance. On balance, the positives around leasing, rent uplifts, balance sheet strength and development optionality outweigh the near-term timing and vacancy challenges.Positive Updates
Strong Leasing Momentum and Large-Format Demand
Executed 3.2 million sq ft of new leases and renewals year-to-date; 1.8 million sq ft leased during the quarter including a 1.1M sq ft extension in Greenville-Spartanburg. Large-format (1M+ sq ft) leasing remains strongest, supported by limited supply (e.g., Phoenix West Valley now has no available million-square-foot buildings). Active discussions on ~7.4 million sq ft of development/redevelopment leasing vacancy and expirations through 2027.
Negative Updates
Near-Term Vacancy and Move-Outs
Approximately 1.8 million sq ft of vacancy in the portfolio (estimated to be worth ~$0.32 per share) and management noted roughly 550,000 sq ft of known move-outs in the second half of 2026. Several smaller move-outs in Greenville-Spartanburg, Tampa and Columbus were cited, requiring leasing activity to preserve occupancy.
Read all updates
Q1-2026 Updates
Positive
Negative
Strong Leasing Momentum and Large-Format Demand
Executed 3.2 million sq ft of new leases and renewals year-to-date; 1.8 million sq ft leased during the quarter including a 1.1M sq ft extension in Greenville-Spartanburg. Large-format (1M+ sq ft) leasing remains strongest, supported by limited supply (e.g., Phoenix West Valley now has no available million-square-foot buildings). Active discussions on ~7.4 million sq ft of development/redevelopment leasing vacancy and expirations through 2027.
Read all positive updates
Company Guidance
LXP reiterated 2026 guidance, maintaining adjusted company FFO of $3.22–$3.37 per common share and same‑store NOI growth of 1.5%–2.5%; Q1 adjusted company FFO was about $47M ($0.80/share), up 2.6% YoY, and Q1 same‑store NOI grew 2%. The stabilized portfolio was 96.6% leased at quarter end (97.1% pro‑forma for April) and guidance assumes average occupancy of ~96.5% at the midpoint (96.0% low end, 97.0% high end), with Q2 same‑store NOI expected to be lower than Q1 and stronger contributions in H2 as new leases commence. Management has addressed ~3.7M sqft (57%) of 2026 expirations with ~25% average cash rent increases, has leased roughly 330k sqft of vacancy YTD, executed 3.2M sqft of new leases/renewals YTD (1.8M in Q1), and is in active discussions on 7.4M sqft of development/redevelopment leasing and about 4.6M sqft of the 2026/2027 lease roll. Other key metrics: Q1 G&A ~$10.3M (FY guidance $39–41M), net debt/annualized adjusted EBITDA 5.1x, $1.3B cash, undrawn $600M revolver, and 325k shares repurchased at an average $48.70.LXP Industrial Trust Financial Statement Overview
Summary
Income Statement
56
Neutral
Balance Sheet
62
Positive
Cash Flow
71
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 347.31M | 350.23M | 358.46M | 340.50M | 321.25M | 344.00M |
| Gross Profit | -59.41M | -107.40M | 105.08M | 98.58M | 85.81M | 119.54M |
| EBITDA | 317.28M | 373.98M | 257.96M | 272.32M | 227.57M | 260.79M |
| Net Income | 93.85M | 113.16M | 44.53M | 30.38M | 113.78M | 382.65M |
Balance Sheet | ||||||
| Total Assets | 3.47B | 3.54B | 3.84B | 4.19B | 4.05B | 4.01B |
| Cash, Cash Equivalents and Short-Term Investments | 130.11M | 170.39M | 101.84M | 329.39M | 54.39M | 190.93M |
| Total Debt | 1.36B | 1.37B | 1.46B | 1.66B | 1.39B | 1.40B |
| Total Liabilities | 1.47B | 1.49B | 1.72B | 1.93B | 1.66B | 1.68B |
| Stockholders Equity | 1.99B | 2.04B | 2.10B | 2.23B | 2.35B | 2.29B |
Cash Flow | ||||||
| Free Cash Flow | 161.81M | 163.81M | 193.41M | 191.51M | 161.71M | 205.14M |
| Operating Cash Flow | 187.19M | 188.72M | 211.19M | 209.45M | 194.27M | 220.35M |
| Investing Cash Flow | 268.17M | 298.20M | 86.40M | -183.45M | -236.92M | -337.76M |
| Financing Cash Flow | -396.25M | -418.34M | -394.98M | 118.96M | -93.87M | 129.10M |
LXP Industrial Trust Technical Analysis
Positive
51.66
Price Trends
47.89
Positive
48.20
Positive
45.47
Positive
Market Momentum
0.95
Negative
70.97
Negative
95.89
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 51.66 is above the 20-day moving average (MA) of 47.65, above the 50-day MA of 47.89, and above the 200-day MA of 45.47, indicating a bullish trend. The MACD of 0.95 indicates Negative momentum. The RSI at 70.97 is Negative, neither overbought nor oversold. The STOCH value of 95.89 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 |
|---|---|---|---|---|---|---|---|
78 Outperform | $8.50B | 13.39 | 12.77% | 2.98% | 8.82% | 28.07% | |
75 Outperform | $6.93B | 14.93 | 10.09% | 3.38% | 24.51% | 104.06% | |
71 Outperform | $7.38B | 27.79 | 6.95% | 4.02% | 9.98% | -2.19% | |
67 Neutral | $3.00B | 25.58 | 5.49% | 5.33% | -3.81% | 52.53% | |
65 Neutral | $2.17B | 12.19 | 3.79% | 4.94% | 3.15% | 1.96% | |
64 Neutral | $8.10B | 20.49 | 2.71% | 4.30% | 2.02% | -23.68% |
* Real Estate Sector Average
LXP
LXP Industrial Trust
50.92
13.27
35.23%
STAG
Stag Industrial
38.58
6.72
21.10%
TRNO
Terreno Realty
65.20
10.51
19.22%
FR
First Industrial Realty
62.01
15.53
33.41%
REXR
Rexford Industrial Realty
35.89
4.23
13.37%
LXP Industrial Trust Corporate Events
Business Operations and StrategyStock BuybackDividendsFinancial DisclosuresPrivate Placements and Financing
LXP Industrial Trust Posts Q1 Loss Amid Leasing Growth
Neutral
Apr 29, 2026
LXP Industrial Trust reported first-quarter 2026 results on April 29, 2026, posting a net loss attributable to common shareholders of $1.9 million, or $0.03 per diluted share, versus a profit a year earlier, as revenues slipped to $85.9 million du...
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...
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.