J.P. Morgan expects LXP Industrial to pivot back to investing

LXP Industrial Trust

02/09/2022 12:53

** J.P. Morgan expects LXP Industrial Trust  LXP.N  to pivot
back to co's plans of investing, buying back stock 
    ** "While the transformation has been earnings dilutive, we
think the move from a strategic perspective has been the right
one – less capex, higher growth/lease spreads, more investor
interest" - brokerage 
    ** Still, expects co's growth being modest compared to
peers; lowers PT by $1 to $12
    ** One of six brokerages rate the stock "buy" or higher, 4
"hold" and 1 "sell"; their median PT is $12.25
    ** YTD, LXP down 35.6%

 (Reporting by Nathan Gomes in Bengaluru)
 ((Nathan.Gomes@thomsonreuters.com;))