Wolfe Research Initiates Coverage of LXP Industrial Trust with Outperform Rating and $10 Price Target

LXP Industrial Trust has been initiated with an Outperform rating and $10 price target by Wolfe Research. The firm sees occupancy upside for the company on its upcoming lease-ups and notes that fundamental trends in LXP's markets have held up better than peers. The Sunbelt and Midwest regions are more removed from import-driven port locations, contributing to the positive outlook.

LXP Industrial Trust, a real estate investment trust (REIT) focused on single-tenant industrial real estate investments across the United States, has been initiated with an Outperform rating and a $10 price target by Wolfe Research. The firm's positive outlook is driven by expectations of occupancy upside on upcoming lease-ups and favorable market trends in LXP's primary regions, the Lower Midwest and Sunbelt [1].

LXP Industrial Trust operates indirectly through property owner subsidiaries, which are single-purpose entities. The company's portfolio includes approximately 115 consolidated real estate properties, located in 18 states and containing an aggregate of approximately 54.6 million square feet of space, with 99.8% of the space leased. The company's investments span various industries, including electronic commerce, automotive, construction/materials, food, apparel, specialty, technology, retail department, aerospace/defense, healthcare, consumer products, transportation/logistics, and others [1].

Wolfe Research highlights that the Sunbelt and Midwest regions are more removed from import-driven port locations, contributing to the positive outlook. The firm expects these regions to continue to perform well, providing a strong foundation for LXP Industrial Trust's future growth.

References:
[1] https://www.marketscreener.com/news/wolfe-research-initiates-lxp-industrial-trust-at-outperform-with-10-price-target-ce7c50dade80f521