| Factor | Score | Distribution | Value | Avg | Rank |
|---|---|---|---|---|---|
Valuation | 21 | 44.4x | 17.8x | Bottom tier | |
Growth | 24 | -4.2% | 7.1% | Bottom tier | |
Quality | 69 | 1.5% | 4.5% | Top tier | |
Safety | 47 | 4.9x | 2.6x | Around median | |
Capital Return | 89 | 4.44% | 2.12% | Top tier | |
Momentum | 96 | 33.2% | 2.9% | Top tier | |
Sentiment | 37 | 2 | 3 | Bottom tier |
Estimates — analyst targets and a simplified DCF, not investment advice.
Ten ratios that matter, each compared against its sector median and average — so you can see whether a number is rich or cheap relative to peers in the same sector.
LXP Industrial Trust is an industrial real estate investment trust that generates its income primarily from leasing distribution facilities and industrial properties, while seeking to increase rents upon renewal and add value through development and redevelopment. The stabilized portfolio was 96.6% leased at the end of Q1 FY2026, rising to 97.1% on a pro forma basis after leases signed in April 2026. The disclosed growth opportunities are concentrated in leasing vacancies and expirations and developing the land bank in Phoenix and Columbus, with potential future projects funded through selective asset sales in non-target markets.
In Q1 FY2026, LXP reported revenue of $85.9 million and gross profit of $69.2 million, equivalent to a gross margin of approximately 80.6%, while net loss was $239 thousand and earnings per share were negative $0.03. On a REIT metric basis, adjusted funds from operations were approximately $47 million, or $0.80 per diluted share, up 2.6% from Q1 FY2025, while same-store net operating income increased 2%.
The business mix reflects LXP's reliance on large industrial facilities in target markets experiencing demand from distribution, advanced manufacturing suppliers, and data center-related activities. The company executed 1.8 million square feet of leases during Q1 FY2026, bringing the year-to-date total to 3.2 million square feet of new leases and renewals, and it was engaged in active discussions concerning 7.4 million square feet of development, redevelopment, vacancies, and expirations through 2027.
Automated analysis for informational purposes only — not investment advice.
Analyst consensus on LXP stock is Neutral, with an average price target of $58.73 within a range of $54 to $61.2. The average target is less than 5% below the 52-week high of $61.61, while the highest target nearly matches that high; therefore, the targets reflect substantial leasing and development success, while the lowest target and Neutral consensus underscore ongoing execution risks.
Figures in the text are as of 2026-08-31; the live price is shown at the top of the page.
Growth depends primarily on raising rents upon renewal, leasing vacant space, and developing the land bank. LXP addressed approximately 3.7 million square feet, or 57% of 2026 expirations, with an average cash rent increase of approximately 25% after excluding two flat-rate renewals. The active discussion pipeline also reached 7.4 million square feet across development, redevelopment, vacancies, and expirations through 2027. Management maintained FY2026 adjusted funds from operations guidance at $3.22 to $3.37 per share.
LXP is developing a 1.2 million-square-foot facility in Phoenix, and construction was underway on April 29, 2026. According to management, the last two million square feet of competing supply in West Valley had been leased, leaving no available one million-square-foot building in the market. The company was negotiating with a potential tenant but had not announced a lease, so the project's outcome remains tied to completing the leasing process. Management stated that it prefers pre-leasing to reduce risk and secure the profit before moving on to other opportunities in the land bank.
Q1 FY2026 leases showed clear pricing improvement, with a 34% base increase and a 24% cash increase on 700 thousand square feet excluding the large Greenville-Spartanburg lease. The company extended the lease on the 1.1 million-square-foot Greenville-Spartanburg facility through 2031, with a 5% cash increase and 3% annual escalation. The renewal of 352 thousand square feet in Charlotte also achieved a 42% cash increase and 3.5% annual escalation. After quarter-end, the lease for 850 thousand square feet in San Antonio included a 25% cash increase, a ten-year term, and 2.75% annual escalation.
The guidance midpoint assumes average occupancy of 96.5%, close to the 96.6% recorded at the end of Q1 FY2026. However, this scenario assumes new leasing activity offsets approximately 550 thousand square feet of known move-outs in the second half. Spaces requiring attention include 288 thousand square feet in Charlotte, along with move-outs or vacancies in Columbus, Tampa, and Greenville-Spartanburg. Management set a tenant retention assumption of between 70% and 80%, with a cushion for unforeseen conditions.
LXP ended Q1 FY2026 with cash liquidity of $1.3 billion and a fully available, undrawn $600 million revolving credit facility. Net debt was 5.1 times annualized adjusted earnings before interest, taxes, depreciation, and amortization. In January 2026, the company also recast its $600 million revolving facility and $250 million term loan, extending maturities and reducing interest costs according to management. Conversely, $160 million of notes due in 2028 carry interest of 6.75% and require payment of a premium for early redemption.
The average analyst price target is $58.73, with a low target of $54 and a high target of $61.2. The average is near the 52-week high of $61.61, while the highest target nearly matches that high. The Neutral consensus reflects a balance between strong rent increases and liquidity on one hand, and the risks of leasing Phoenix and offsetting 2026 move-outs on the other. Therefore, the potential to reach the upper end of the target range depends on converting the 7.4 million-square-foot leasing pipeline into income-producing leases.
