LXP Industrial Trust
Owns and develops net-leased Class A logistics properties in Sunbelt and lower-Midwest markets.
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Profile
Owns and develops Class A warehouse and distribution properties in Sunbelt and lower-Midwest markets, earning primarily rental income from predominantly single-tenant, net-leased facilities. Growth comes through acquisitions, build-to-suits, sale-leasebacks, development, and institutional partnerships; a cash acquisition by Brookfield and CPP Investments is pending.
Owns, acquires, develops, and leases Class A warehouse and distribution facilities in Sunbelt and lower-Midwest target markets. Predominantly single-tenant, the portfolio spans modern bulk-logistics buildings, development land, build-to-suit projects, and institutional joint ventures.
Rental income from net and similar leases anchors the business. Acquisitions, sale-leasebacks, speculative development, merchant-builder partnerships, and selective asset sales shape the portfolio. Recent leasing has kept stabilized properties nearly full, with operations managed as one segment.
Most net-lease tenants bear property taxes, utilities, insurance, and ordinary repairs; results depend on tenant credit and renewals, development execution, financing, and REIT qualification. A pending acquisition by Brookfield and CPP Investments remains subject to shareholder approval and customary closing conditions.
Company facts
Categories
Key statistics
Year to date +22.4% · Average volume (30d) 800.6K
Analysts
Ratings
Target range
Latest analyst notes
| Date | Firm | Action | Prior rating | Rating | Prior target | Target |
|---|---|---|---|---|---|---|
| Aug 6, 2026 | Jefferies | Downgrade | Buy | Hold | $11 | $61 |
| Jul 21, 2026 | Citigroup | Downgrade | Outperform | Perform | ||
| Jul 21, 2026 | Empire Asset Management | Downgrade | Market Perform | |||
| Jul 21, 2026 | Industrial Alliance Securities | Target | $65 | $61.20 | ||
| Jul 21, 2026 | Citizens | Downgrade | Market Outperform | Market Perform |
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Jul 29, 2026Q2 FY26 | $0.01 | −$0.03 | −416.1% | $85.4M | $87.1M | +2.1% | −0.30% |
| Apr 29, 2026Q1 FY26 | $0.00 | −$0.03 | — | $81.5M | $85.9M | +5.4% | +1.52% |
| Feb 12, 2026Q4 FY25 | $0.85 | $0.79 | −7.1% | $82.4M | $85.7M | +4.0% | −1.22% |
| Oct 30, 2025Q3 FY25 | $0.80 | $0.80 | 0.0% | $86.1M | $86.9M | +1.0% | −2.57% |
Financial highlights
| 12 quarters | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $88.9M | $87.7M | $86.9M | $86.7M | $85.9M | $88.1M | |
| Gross profit | $21.2M | $22.5M | −$126.6M | −$24.5M | $69.2M | $23.9M | |
| Operating income | $10.8M | $12.9M | $13.1M | $12.4M | $12.0M | $14.2M | |
| Net income | $19.0M | $29.1M | $36.2M | $28.8M | −$239.0K | $55.0K | |
| Diluted EPS | $0.30 | $0.47 | $0.60 | $0.46 | −$0.03 | −$0.03 | |
| Gross margin | 23.9% | 25.6% | -145.6% | -28.3% | 80.5% | 27.1% | |
| Operating margin | 12.2% | 14.7% | 15.1% | 14.3% | 13.9% | 16.1% |
Fiscal years (4-quarter sums)FY21 $344.0M · FY22 $321.2M · FY23 $340.5M · FY24 $358.5M · FY25 $350.2M
Revenue by product · Q2 FY26
Balance sheet, Jun 30, 2026Cash & short-term investments $18.0M · Total debt $1.38B · Total assets $3.46B · Shareholders' equity $1.95B
Dividends
Raised for 6 straight years — most recently to $0.70 from $0.675 split-adjusted in Dec 2025. To collect a payout, hold shares through the close before the ex-date.
History
| Ex-date | Record | Paid | Amount | Note |
|---|---|---|---|---|
| Jun 30, 2026 | Jun 30 | Jul 15 | $0.70 | |
| Mar 31, 2026 | Mar 31 | Apr 15 | $0.70 | |
| Dec 31, 2025 | Dec 31 | Jan 15 | $0.70 | raised from $0.675 split-adjusted |
| Sep 30, 2025 | Sep 30 | Oct 15 | $0.135 | |
| Jun 30, 2025 | Jun 30 | Jul 15 | $0.135 | |
| Mar 31, 2025 | Mar 31 | Apr 15 | $0.135 | |
| Dec 31, 2024 | Dec 31 | Jan 15 | $0.135 | raised from $0.13 |
| Sep 30, 2024 | Sep 30 | Oct 15 | $0.13 |
Ownership
A 13F quarter can total more than the shares outstanding — sub-advisers file the same block twice, and a filer's own share count can be a quarter stale. No split is drawn from it.
Shares outstanding 58.96M · Float 57.26M · 97.1% free float
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| BlackRock, Inc. | 10.92M | 18.52% | 13F | Aug 7, 2026 |
| Vanguard Portfolio Management LLC | 5.93M | 10.06% | 13F | Aug 13, 2026 |
| State Street Corp | 3.35M | 5.69% | 13F | Aug 7, 2026 |
| Vanguard Capital Management LLC | 2.56M | 4.33% | 13F | Aug 13, 2026 |
| Macquarie Management Holdings, Inc. | 2.13M | 3.62% | 13F | Aug 14, 2026 |
Insider tradesForm 4
No open-market trades in the last 12 months.
View detailsPeers
- Prologis
Global logistics REIT rival in warehouses and development
- First Industrial Realty Trust
Direct U.S. industrial owner and logistics developer
- EastGroup Properties
Sunbelt industrial REIT rival in distribution facilities
- STAG Industrial
Single-tenant industrial peer across U.S. warehouses
- Terreno Realty
Infill warehouse rival in constrained U.S. logistics markets
- Rexford Industrial
Southern California industrial REIT with redevelopment overlap
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| LXP Industrial Trust | $60.69 | 0.00% | $3.58B | 60.7 | 538.0 | 10.3 | −0.7% |
| Prologis | $140.35 | −0.29% | $131.32B | 31.3 | 40.4 | 14.3 | −0.3% |
| First Industrial Realty Trust | $61.94 | 0.00% | $8.21B | 22.6 | 35.3 | 10.8 | +8.2% |
| EastGroup Properties | $200.00 | −0.01% | $10.75B | 35.1 | 36.2 | 14.3 | +9.1% |
| STAG Industrial | $37.18 | +0.01% | $7.17B | 28.6 | 74.1 | 8.1 | +7.7% |
| Terreno Realty | $66.59 | +0.02% | $7.08B | 17.9 | 36.8 | 14.1 | +11.1% |
| Rexford Industrial | $37.00 | −0.39% | $8.49B | — | 33.1 | 8.6 | −2.6% |
| Median | 28.6 | 36.5 | 12.4 | +7.9% |