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 reports recurring developments as a publicly traded REIT focused on Class A warehouse and distribution real estate investments. Its updates center on rental revenue, Adjusted Company FFO, same-store NOI, leasing spreads, portfolio occupancy and activity in target Sunbelt and Midwest markets.
Company news also covers development projects, build-to-suit and sale/leaseback activity, property dispositions outside target markets, quarterly common and Series C preferred dividends, debt refinancing, senior note activity, share repurchases and the completed one-for-five reverse share split. Leasing announcements often relate to large warehouse facilities and distribution projects, including new leases and lease extensions.
LXP Industrial Trust (NYSE: LXP), a REIT specializing in Class A warehouse and distribution real estate investments, has announced it will release its fourth quarter 2024 financial results on Thursday, February 13, 2025. The company will host a conference call and webcast at 8:30 a.m. Eastern Time on the same day to discuss the results.
Participants can join the conference call using the numbers (888) 660-6082 or (929) 201-6604 for international callers, with Conference ID 1576583. A webcast option is also available. A telephone replay will be accessible through February 20, 2025, and the webcast recording will be available for one year.
LXP Industrial Trust reported Q3 2024 results with net income of $4.7 million ($0.02 per share) and Adjusted Company FFO of $46.7 million ($0.16 per share). The company achieved 5.4% Same-Store NOI growth and completed 0.7 million square feet of leases with Base and Cash Base Rents increasing by 38.3% and 22.5%. Notable transactions include disposing of three Chicago facilities for $136.7 million, acquiring a Savannah facility for $34.1 million, and an upcoming $86.5 million land sale in Phoenix. The Board authorized a 3.8% dividend increase to $0.135 per share. Total gross revenues were $85.6 million, slightly up from $85.4 million in Q3 2023.
LXP Industrial Trust (NYSE: LXP), a REIT focused on Class A warehouse and distribution real estate investments, has announced the release of its third quarter 2024 financial results on Wednesday, November 6, 2024. The company will host a conference call and webcast at 8:30 a.m. Eastern Time on the same day to discuss the results.
Participants can access the call via phone at (888) 660-6082 or (929) 201-6604 (International) using Conference ID: 1576583. The webcast will be available at https://events.q4inc.com/attendee/703292840 or through LXP's investor relations website. A telephone replay will be accessible until November 13, 2024, and the webcast will be available for one year.
LXP Industrial Trust (NYSE: LXP), a REIT specializing in Class A warehouse and distribution investments, has announced its quarterly dividend for Q3 2024. Common shareholders will receive $0.13 per share, payable on October 15, 2024, to shareholders of record as of September 30, 2024. Additionally, LXP declared a dividend of $0.8125 per share for Series C Cumulative Convertible Preferred Stock, payable on November 15, 2024, to shareholders of record as of October 31, 2024. This announcement demonstrates LXP's commitment to providing regular returns to its investors in the industrial real estate sector.
LXP Industrial Trust reported its Q2 2024 results, highlighting Net Income of $3.8 million ($0.01 per diluted share) and Adjusted Company FFO of $46.9 million ($0.16 per diluted share). Key achievements include:
- 5.0% increase in Same-Store NOI compared to Q2 2023
- Completed 2.7 million sq ft of new leases and extensions, raising Base and Cash Base Rents by 44.5% and 44.0% respectively
- Satisfied $198.9 million of 4.40% Senior Notes due 2024
- Invested $34.7 million in development activities
- Sold remaining two consolidated office assets, making portfolio 100% industrial
LXP updated its 2024 guidance, estimating net income of $0.10 to $0.13 per diluted share and Adjusted Company FFO between $0.62 and $0.65 per diluted share.
LXP Industrial Trust (NYSE: LXP) has partnered with Wunder to deploy a 207 kilowatt solar system at its Rockford, Illinois industrial facility. The system, operational since June 2024, is expected to generate 261,990 kilowatt hours of power in its first year, offsetting over 403,500 pounds of CO2 emissions. This initiative aims to provide substantial energy bill savings to the tenant while enhancing LXP's sustainability efforts. The project was completed without any capital outlay from LXP, showcasing a cost-effective approach to implementing renewable energy solutions in commercial real estate.
LXP Industrial Trust (NYSE: LXP) announced it will release its second quarter 2024 financial results on July 31, 2024. The company, known for its investments in Class A warehouse and distribution real estate, will also host a conference call and webcast at 8:30 a.m. Eastern Time the same day to discuss these results. Participants can join the call by dialing (888) 660-6082 or (929) 201-6604 for international participants, using Conference ID: 1576583. The call will be replayed through October 29, 2024, and will be available via webcast on the company's investor relations site.
LXP Industrial Trust (NYSE: LXP), a REIT specializing in single-tenant industrial real estate, announced a quarterly dividend for common shares of $0.13. The dividend applies to the quarter ending June 30, 2024, and is payable on or about July 15, 2024, to shareholders on record as of June 28, 2024. Additionally, LXP declared a cash dividend of $0.8125 per share for Series C Cumulative Convertible Preferred Stock for the same period, payable on or about August 15, 2024, to shareholders on record as of July 31, 2024.
LXP Industrial Trust has announced that Beth Boulerice will step down as Chief Financial Officer and Treasurer on March 1, 2025, transitioning to an Executive Vice President role. Nathan Brunner, with extensive experience in real estate investment banking, will join as Executive Vice President of Capital Markets starting September 1, 2024, and will take over as CFO and Treasurer after Boulerice's transition. CEO T. Wilson Eglin praised Boulerice's contributions and expressed confidence in Brunner's ability to lead the finance team. This leadership change reflects LXP's commitment to succession planning and enhancing shareholder value.
LXP Industrial Trust reported first quarter 2024 results, showing a net loss of $(1.9) million but generated Adjusted Company FFO of $48.8 million. They increased Industrial Same-Store NOI by 6.5%, completed lease extension amendments, acquired a land parcel, and invested in development activities. They placed in service a warehouse and announced future development projects. LXP also completed lease extensions raising industrial Cash Base Rents by 26.9%. The CEO expects profitable long-term growth from development leasing and mark-to-market opportunities.
Financially, LXP saw an increase in total gross revenues to $86.3 million, but a net loss compared to the same quarter in 2023. Adjusted Company FFO was $48.8 million. They declared dividends and provided guidance for 2024 earnings, estimating net income within $0.08 to $0.12 per diluted common share and Adjusted Company FFO between $0.61 and $0.65 per share.