Welcome to our dedicated page for Lxp Industrial Trust news (Ticker: LXP), a resource for investors and traders seeking the latest updates and insights on Lxp Industrial Trust stock.
LXP Industrial Trust (NYSE: LXP) is a real estate investment trust (REIT) focused on Class A warehouse and distribution real estate investments in 12 target markets across the Sunbelt and the Midwest or lower Midwest. The LXP news feed highlights how the trust acquires, develops, redevelops, finances and recycles industrial properties in these logistics-oriented markets.
News about LXP Industrial Trust often covers its quarterly earnings results, portfolio performance and leasing activity. The trust issues press releases and 8-K filings describing metrics such as leased percentages in its stabilized portfolio, new and extended leases across millions of square feet, redevelopment projects in markets like Central Florida and Richmond, and land held for industrial development in areas including Phoenix, Indianapolis, Atlanta and Columbus.
Another recurring theme in LXP’s news is capital structure and financing activity. Recent items include the entry into a Third Amended and Restated Credit Agreement with a $600 million senior unsecured revolving credit facility and a $250 million unsecured term loan, as well as tender offers and pricing announcements related to its 6.750% Notes due 2028. The trust has also reported on a one-for-five reverse split of its common shares and related adjustments to equity plans and preferred stock conversion rates.
Investors and analysts following LXP’s news can review updates on dividends, debt management, property acquisitions and sales, and development progress. The news stream provides context on how LXP manages its industrial real estate portfolio, its balance sheet and its shareholder distributions over time.
Lexington Realty Trust (NYSE:LXP) reported its Q1 2020 results, showing net income of $16.5 million ($0.06 per diluted share) and Adjusted Company Funds From Operations (FFO) of $49.3 million ($0.19 per diluted share). The company acquired four industrial properties for $195.5 million and sold two office properties for $29.6 million. As of May 2020, 99.8% of April rental payments were collected. Despite minor tenant rent relief requests, Lexington anticipates minimal impact on revenues. The company projects net income for 2020 to be between $0.77 and $0.80 per diluted share.