LXP Industrial owns a high-quality portfolio of single-tenant industrial properties across the U.S. The company recently became a pure-play industrial REIT after fully exiting its office portfolio. While LXP carries higher leverage, it has maintained its high-yield dividend.
LXP Industrial Trust (NYSE:LXP ) Q2 2024 Earnings Conference Call July 31, 2024 8:30 AM ET Company Participants Heather Gentry - IR Will Eglin - CEO Brendan Mullinix - CIO James Dudley - EVP Beth Boulerice - CFO Conference Call Participants Anthony Paolone - JPMorgan Todd Thomas - KeyBanc Capital Markets Mitch Germain - Citizens JMP Camille Bonnel - Bank of America James Kammert - Evercore ISI Jon Petersen - Jefferies LLC Operator Thank you for standing by. My name is Christa and I will be your conference operator today.
LXP Industrial (LXP) came out with quarterly funds from operations (FFO) of $0.16 per share, in line with the Zacks Consensus Estimate. This compares to FFO of $0.18 per share a year ago.
I find value in underfollowed stocks with attractive prices and high yields, like LXP Industrial. LXP has transitioned to an industrial REIT with strong portfolio fundamentals, strong tenant profile, and growth potential through rent escalations and new developments. LXP's 5.6% dividend yield, strategic market positioning, and solid balance sheet make it an attractive buy for value investors compared to more expensive peers in the industrial sector.