Lxp Industrial Trust Stock Price, News & Analysis

LXP Industrial Trust (NYSE: LXP) reported strong financial results for Q4 2021, with net income of $260.5 million or $0.90 per diluted share, up from $102.7 million a year prior. The company generated Adjusted Company Funds From Operations of $53.8 million, with total gross revenues reaching $86.5 million. LXP executed key acquisitions, adding $365.9 million in warehouse facilities, and maintained a high portfolio lease rate of 99.4%. The Board is exploring strategic alternatives to maximize shareholder value, delaying 2022 earnings guidance.

LXP Industrial Trust (NYSE: LXP) has announced a review of its strategic alternatives, including potential sales, mergers, or other business combinations. This decision, supported by independent financial advisors, aims to maximize shareholder value following the company's successful transformation into a predominantly single-tenant industrial REIT. The Board has not set a specific timeline for this review and does not guarantee any results. BofA Securities, Evercore, and Wells Fargo Securities are acting as financial advisors.

LXP Industrial Trust (NYSE:LXP) received a non-binding acquisition proposal from Land & Buildings Investment Management on January 28, 2022. The offer is priced at $16.00 per share in cash, representing a 22% premium over the unaffected price prior to engagement discussions. LXP's Board of Trustees will review the proposal, which is contingent upon satisfactory due diligence and necessary approvals. Land & Buildings expressed readiness to provide financing simultaneously with a definitive agreement. They urged the Board to share any additional value documentation that could warrant an increased offer.

LXP Industrial Trust (NYSE:LXP) announced it will release its fourth quarter 2021 financial results on February 24, 2022. A conference call will follow at 8:30 a.m. Eastern Time to discuss the results. Participants can join the call at 1-844-200-6205 for US callers and 1-929-526-1599 for international callers, using the access code 323564.

A telephone replay will be available until March 24, 2022. For more details, visit their official website.

LXP Industrial Trust (NYSE: LXP) announced its final 2021 dividend income allocations for common and preferred shares. Common shares received a total distribution of $0.1075 per share with ordinary dividends of $0.070937, payable on January 15, 2021. The preferred series C shares received $0.8125 per share, payable on February 16, 2021. The company provided required tax reporting forms, including Form 1099-DIV and Form 8937, which are available on its website. This allocation reflects LXP’s commitment to providing returns to its investors.

LXP Industrial Trust (NYSE: LXP) announced a recapitalization of a 22-property special purpose industrial portfolio valued at $550 million in a joint venture with Davidson Kempner Capital Management. This move aims to reposition LXP as a pure-play single-tenant industrial REIT. The transaction is expected to generate approximately $487 million in net proceeds for debt reduction and further investments in warehouse and distribution facilities. The joint venture also includes a $381 million mortgage loan and a $250 million equity commitment for future acquisitions.

Lexington Realty Trust (NYSE:LXP) has responded to Land & Buildings Investment Management, LLC's nomination of two trustee candidates for LXP's 2022 Annual Meeting. The company values dialogue with shareholders and emphasizes its commitment to corporate governance. LXP's Board has been refreshed with five new independent trustees since 2015, improving diversity and expertise. The transformation to a predominantly single-tenant industrial REIT has resulted in a portfolio comprising 95% industrial properties as of Q3 2021, leading to a total shareholder return of 96% since 2018.

Land & Buildings Investment Management has raised concerns about LXP's performance under CEO T. Wilson Eglin, citing a 60% decline in FFO and a 62% cut in dividends since 2003. They argue that the company is trading at a significant discount to its net asset value due to poor capital allocation and lack of a coherent strategy. The firm calls for a board refresh and CEO succession planning to improve shareholder value. A webcast presentation details these issues and offers a framework for moving forward.