Lxp Industrial Trust Stock Price, News & Analysis

LXP Industrial Trust (NYSE:LXP) reported robust second-quarter results for 2022, achieving a net income of $39.7 million, or $0.14 per share. The company generated $48.9 million in Adjusted Company FFO, equating to $0.17 per share. LXP executed new leases totaling 0.9 million square feet, with significant rent increases of 21.3% for Base Rents. During the quarter, it repurchased 6.1 million shares for an average of $11.45 each and successfully disposed of three properties for $55.1 million. The company’s debt profile improved with an extended unsecured credit facility maturing in July 2026.

LXP Industrial Trust has appointed Derrick Johnson to its Board of Trustees, effective immediately. With extensive experience in operations and strategy, Johnson previously served as Senior Vice President at Agiliti and has 20 years of experience with UPS, including a role as President of the Southeast. This appointment reflects LXP's commitment to enhancing its board with experienced and diverse perspectives. His expertise in supply chain and logistics is expected to align with LXP's focus on warehouse and distribution investments.

LXP Industrial Trust (NYSE: LXP), a real estate investment trust specializing in single-tenant warehouse and distribution properties, will release its second quarter 2022 financial results on August 4, 2022. A conference call will be held at 8:30 a.m. ET the same day to discuss the results. Participants can join the call via U.S. numbers (855) 459-0167 or (973) 528-0145, with an international link provided. A telephone replay will be available until November 4, 2022, and the webcast can be accessed for a year.

LXP Industrial Trust (NYSE: LXP) has declared a quarterly common share dividend of $0.12 per share, payable on or about July 15, 2022 to shareholders of record as of June 30, 2022. Additionally, a cash dividend of $0.8125 per share of Series C Cumulative Convertible Preferred Stock will be paid on or about August 15, 2022 to shareholders of record as of July 29, 2022. LXP focuses on single-tenant industrial real estate investments and aims to expand its portfolio through acquisitions and development projects.

LXP Industrial Trust (LXP) announced its Q1 2022 results, reporting a net income of $9.0 million ($0.03/share) and adjusted Company FFO of $48.1 million ($0.16/share). Total revenues decreased to $80.3 million from $92.6 million in Q1 2021 due to lower termination fees and property sales. The company completed 2.3 million square feet of new leases, increasing Base and Cash Base rents by 27.7% and 18.1%. LXP acquired two facilities for $72 million and invested $68.8 million in ongoing projects, while reaffirming its 2022 guidance for net income between $0.43 and $0.47/share.

LXP Industrial Trust (NYSE:LXP) will release its first quarter 2022 financial results on May 5, 2022. The company will hold a conference call and webcast at 8:30 a.m. Eastern Time on the same day to discuss these results. Participants can join via phone or webcast, with specific access details provided. A replay of the call will be available until August 5, 2022. LXP focuses on single-tenant warehouse and distribution investments and aims to expand its portfolio through various transactions.

LXP Industrial Trust (NYSE: LXP) has suspended its strategic alternatives evaluation, deciding to continue as an independent entity. This decision follows a thorough review by the Board of Trustees, which noted the attractiveness of LXP's portfolio amidst changing macroeconomic conditions. In Q1 2022, LXP executed new and renewal leases totaling 2.3 million square feet, resulting in rental increases of 27.7% and 18.1% for Base and Cash Base rents, respectively. The company expects net income per diluted share between $0.31 and $0.35 for 2022.

LXP Industrial Trust has appointed Arun Gupta to its Board of Trustees, expanding the board to eight members. Gupta, with over two decades of venture capital experience and expertise in technology and cybersecurity, is expected to enhance the board's diversity and strategic insight. His role aligns with LXP's ongoing efforts to refresh board membership, having added six independent trustees since 2015. Additionally, Richard S. Frary will not seek reelection in 2023, supporting a transition in leadership.

LXP Industrial Trust (NYSE: LXP) has declared a quarterly common share dividend of $0.12 per share, payable on or about April 18, 2022, to shareholders of record as of March 31, 2022. Additionally, a cash dividend of $0.8125 per Series C Cumulative Convertible Preferred Stock share will be distributed on or about May 16, 2022, to shareholders recorded by April 29, 2022. LXP focuses on single-tenant industrial real estate investments and aims to expand its portfolio through acquisitions and development projects.