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LXP Industrial Trust
(NYSE:LXP)
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Rating:69Neutral
Price Target:
$67.00
â–²(9.80% Upside)
Action:Downgraded
Date:08/29/26
The score is driven primarily by steady-to-improving cash generation and supportive technical momentum, plus the significant M&A event that anchors value near the cash deal terms. Offsetting this are uneven profitability signals (including negative gross margin), modest ROE and some balance-sheet data inconsistency, and a high P/E that weakens valuation despite a solid headline dividend yield.
Positive Factors
Durable Cash Generation
Consistently positive operating and free cash flow indicates that rental operations are producing cash to support investment and financial obligations. Solid conversion from net income also improves confidence that reported earnings have underlying cash support, despite some annual volatility.
Negative Factors
Volatile Profitability
Uneven margin performance makes earnings quality and comparability less predictable. Although operating and net margins remain positive, recurring negative gross-margin readings and sharp period-to-period swings may complicate forecasting and reduce confidence in sustainable profitability.
Read all positive and negative factors
Positive Factors
Negative Factors
Durable Cash Generation
Consistently positive operating and free cash flow indicates that rental operations are producing cash to support investment and financial obligations. Solid conversion from net income also improves confidence that reported earnings have underlying cash support, despite some annual volatility.
Read all positive factors
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 (LXP) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$3.60B
Dividend Yield4.57%
Average Volume (3M)732.37K
Price to Earnings (P/E)60.7
Beta (1Y)0.57
Revenue Growth-4.21%
EPS Growth-28.11%
CountryUS
Employees58
SectorReal Estate
Sector Strength53
IndustryREIT - Industrial
Share Statistics
EPS (TTM)1.00
Shares Outstanding58,957,264
10 Day Avg. Volume1,117,823
30 Day Avg. Volume732,374
Financial Highlights & Ratios
PEG Ratio0.15
Price to Book (P/B)1.42
Price to Sales (P/S)8.27
P/FCF Ratio17.67
Enterprise Value/Market Cap<0.01
Enterprise Value/Revenue<0.01
Enterprise Value/Gross Profit>-0.01
Enterprise Value/Ebitda<0.01
Forecast
1Y Price Target
$57.80Price Target Upside-5.28% Downside
Rating ConsensusHold
Number of Analyst Covering7
EPS Forecast (FY)0.05
Revenue Forecast (FY)$347.57M
LXP Industrial Trust Business Overview & Revenue Model
Company Description
LXP Industrial Trust, identified by its NYSE ticker LXP, functions as a publicly traded real estate investment trust (REIT). Its core holdings encompass a nationwide portfolio of industrial properties, primarily consisting of equity stakes in sing...
How the Company Makes Money
LXP Industrial Trust primarily makes money by leasing its industrial properties to tenants and collecting contractual rental payments. Its main revenue stream is base rent earned under lease agreements, which may include scheduled rent escalations...
LXP Industrial Trust Earnings Call Summary
Earnings Call Date:Apr 29, 2026
(Q1-2026)
| % Change Since: |
Next Earnings Date:Oct 29, 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
62
Positive
Balance Sheet
55
Neutral
Cash Flow
74
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 347.70M | 350.23M | 358.46M | 340.50M | 321.25M | 344.00M |
| Gross Profit | -58.01M | -107.40M | 105.08M | 98.58M | 85.81M | 119.54M |
| EBITDA | 275.58M | 373.98M | 302.05M | 272.32M | 343.33M | 609.81M |
| Net Income | 64.78M | 113.16M | 44.53M | 30.38M | 113.78M | 382.65M |
Balance Sheet | ||||||
| Total Assets | 3.46B | 3.54B | 3.84B | 4.19B | 4.05B | 4.01B |
| Cash, Cash Equivalents and Short-Term Investments | 17.99M | 170.39M | 101.84M | 329.39M | 54.39M | 190.93M |
| Total Debt | 1.38B | 1.37B | 1.46B | 1.66B | 1.39B | 1.40B |
| Total Liabilities | 1.50B | 1.49B | 1.72B | 1.93B | 1.66B | 1.68B |
| Stockholders Equity | 1.95B | 2.04B | 2.10B | 2.23B | 2.35B | 2.29B |
Cash Flow | ||||||
| Free Cash Flow | 173.72M | 163.81M | 193.41M | 191.51M | 161.71M | 205.14M |
| Operating Cash Flow | 192.73M | 188.72M | 211.19M | 209.45M | 194.27M | 220.35M |
| Investing Cash Flow | 109.69M | 298.20M | 86.40M | -183.45M | -236.92M | -337.76M |
| Financing Cash Flow | -355.48M | -418.34M | -394.98M | 118.96M | -93.87M | 129.10M |
LXP Industrial Trust Technical Analysis
Positive
61.02
Price Trends
58.26
Positive
54.46
Positive
50.81
Positive
Market Momentum
0.70
Positive
69.71
Neutral
75.48
Neutral
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 61.02 is above the 20-day moving average (MA) of 60.73, above the 50-day MA of 58.26, and above the 200-day MA of 50.81, indicating a bullish trend. The MACD of 0.70 indicates Positive momentum. The RSI at 69.71 is Neutral, neither overbought nor oversold. The STOCH value of 75.48 is Neutral, 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 47 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 |
|---|---|---|---|---|---|---|---|
73 Outperform | $7.31B | 17.90 | 9.21% | 2.86% | 18.05% | 47.75% | |
71 Outperform | $7.15B | 28.60 | 6.94% | 3.70% | 9.63% | 3.17% | |
69 Neutral | $3.60B | 60.69 | 3.23% | 4.56% | -4.21% | -28.11% | |
69 Neutral | $8.55B | 22.52 | 13.42% | 2.82% | 8.44% | 34.29% | |
65 Neutral | $2.17B | 12.19 | 3.79% | 4.94% | 3.15% | 1.96% | |
62 Neutral | $8.28B | -20.29 | -4.75% | 4.44% | 0.58% | -234.18% |
* Real Estate Sector Average
LXP
LXP Industrial Trust
60.69
17.81
41.52%
STAG
Stag Industrial
37.18
1.56
4.39%
TRNO
Terreno Realty
66.59
10.75
19.26%
FR
First Industrial Realty
61.94
11.05
21.71%
REXR
Rexford Industrial Realty
37.13
-2.36
-5.97%
LXP Industrial Trust Corporate Events
Business Operations and StrategyDividendsFinancial DisclosuresM&A Transactions
LXP Industrial Trust to be Acquired in Cash Deal
Positive
Jul 29, 2026
On July 19, 2026, LXP Industrial Trust agreed to be acquired in an all-cash merger by affiliates of Brookfield Asset Management and Canada Pension Plan Investment Board for $61.20 per share, valuing the transaction at about $5.2 billion including ...
Business Operations and StrategyDelistings and Listing ChangesDividendsM&A TransactionsRegulatory Filings and Compliance
LXP Industrial Trust to be acquired in cash deal
Neutral
Jul 20, 2026
On July 19, 2026, LXP Industrial Trust entered into a merger agreement under which it will be acquired in an all-cash transaction valued at about $5.2 billion by a Brookfield Asset Management and CPP Investments consortium via Leopard REIT LLC. Co...
Business Operations and StrategyFinancial DisclosuresM&A Transactions
LXP Industrial Trust Boosts 2026 FFO Guidance on Leasing
Positive
Jun 1, 2026
On June 1, 2026, LXP Industrial Trust reported strong recent leasing momentum, executing 2.7 million square feet of new and renewal leases in the second quarter to date, bringing year-to-date leasing volume to 4.6 million square feet and achieving...
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.