Lxp Industrial Trust Stock Price, News & Analysis

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.

Lexington Realty Trust (LXP) reported a substantial portfolio transformation with 95% of gross assets now industrial. For Q3 2021, net income attributed to common shareholders was $5.0 million ($0.02 per diluted share), a decrease from $40.3 million the previous year. Total revenues slightly fell to $83.4 million. LXP declared a 11.6% increase in its common share dividend for Q4 2021, raising it to $0.12 per share. The company acquired five properties for $134.8 million and increased its industrial portfolio to 94.9% of total assets. Guidance for net income has been adjusted to $0.52-$0.55 per share for 2021.

Lexington Realty Trust (NYSE:LXP) announced a top ranking in the 2021 GRESB Assessment for industrial listed companies in the U.S., highlighting its commitment to ESG standards. CEO T. Wilson Eglin emphasized the company's progress in building a robust ESG platform. LXP will publish its first sustainability report by the end of 2021, aligned with SASB standards. Year-to-date achievements include increased green building certifications and the incorporation of ESG metrics in executive incentives. The board is committed to sustainability aligned with shareholder expectations.

Lexington Realty Trust (NYSE:LXP) will release its third quarter 2021 financial results on November 4, 2021. A conference call and webcast will be held at 8:30 a.m. Eastern Time that day to discuss the results. Participants can join via phone at US: 1-844-200-6205 or internationally at 1-929-526-1599 using access code 583435. A replay will be available until April 2, 2022. Lexington Realty Trust specializes in single-tenant industrial real estate investments and aims to grow its portfolio through various strategies.

Lexington Realty Trust (NYSE:LXP) highlights its successful transformation into a leading single-tenant industrial REIT. The transition, with 94% of its portfolio now industrial assets, has generated an impressive 82% total shareholder return over the last three years. The company’s strategic shift, including the divestment of non-core properties and the acquisition of high-quality industrial assets, aims to enhance long-term financial performance. Notably, LXP has reduced its leverage ratio from 6.7x to 4.9x while returning approximately $855 million to shareholders.

Lexington Realty Trust (NYSE:LXP) announced a quarterly common share dividend of $0.1075 per share, payable on or about October 15, 2021, to shareholders of record as of September 30, 2021. Additionally, a cash dividend of $0.8125 per share of Series C Cumulative Convertible Preferred Stock will be paid on or about November 15, 2021, to shareholders of record as of October 29, 2021. Lexington focuses on single-tenant industrial real estate investments across the U.S.

Lexington Realty Trust (LXP) announced a public offering of $400 million in 2.375% senior unsecured notes due October 1, 2031, priced at 99.758% of the principal amount, yielding 2.402%. The interest will be paid semi-annually starting April 1, 2022. The offering, expected to close on August 30, 2021, aims to pay down its revolving credit facility and redeem some outstanding 4.25% senior notes due 2023. Proceeds may also fund future acquisitions. The offering is managed by several leading financial institutions and is part of an existing SEC shelf registration.

Lexington Realty Trust (NYSE:LXP) reported strong Q2 2021 results, with net income of $71 million, or $0.26 per diluted share. Adjusted Company Funds From Operations (FFO) were $52.2 million, or $0.18 per diluted share. The company completed 1.1 million square feet in new leases, raising industrial renewal cash base rents by 6.9%. It also acquired seven properties for $205.5 million and commenced new development projects totaling 1.1 million square feet. The industrial portfolio now comprises 93.9% of gross real estate assets, positioning Lexington towards a 100% industrial focus.

Lexington Realty Trust (NYSE: LXP) announced it will release its second quarter 2021 financial results on August 5, 2021. A conference call and webcast will be held on the same day at 8:30 a.m. Eastern Time to discuss these results. Stakeholders can participate by calling the designated numbers or accessing through the provided webcast link. A replay of the call will be available until November 5, 2021. Lexington Realty Trust is focused on single-tenant industrial real estate investments and aims to expand its portfolio through various acquisition strategies.