Lxp Industrial Trust Stock Price, News & Analysis

Lexington Realty Trust (NYSE:LXP) has announced an underwritten public offering of 16 million common shares, with an option for underwriters to purchase an additional 2.4 million shares. The offering is facilitated by Wells Fargo Securities, J.P. Morgan, and KeyBanc Capital Markets. Proceeds will be used for working capital and corporate purposes, including ongoing development projects. Lexington will not receive immediate proceeds from the forward purchasers but intends to deliver shares by May 11, 2022. The offering is registered under an effective shelf registration statement.

Lexington Realty Trust (NYSE:LXP) reported strong Q1 2021 results, with net income of $39.4 million ($0.14/share) and Adjusted Company Funds From Operations (FFO) of $63.7 million ($0.22/share). Revenue increased to $92.6 million, up from $80.8 million year-over-year, driven by acquisitions and termination income. The company completed 1.5 million square feet of leases, raised cash renewal rents by 5.4%, and acquired three properties for $50.8 million. Its industrial portfolio now comprises 91.3% of gross book value. Future guidance suggests net income between $0.74 and $0.77/share for 2021.

Lexington Realty Trust (NYSE:LXP) is set to release its first quarter 2021 financial results on May 7, 2021, at 8:30 a.m. ET. A conference call and webcast will follow to discuss the results. Investors can join the call at 1-844-825-9783 for the US, or via international and Canadian numbers. The webcast can be accessed through this link. A replay of the call will be available via telephone and webcast for one year. Lexington specializes in single-tenant industrial real estate investments and aims to grow its portfolio through various strategic transactions.

Lexington Realty Trust (NYSE:LXP) declared a $0.1075 dividend per common share for Q1 2021, payable on April 15, 2021, to shareholders on record as of March 31, 2021. Additionally, a cash dividend of $0.8125 per share of Series C Cumulative Convertible Preferred Stock will be distributed on May 17, 2021, to shareholders of record by April 30, 2021. The company focuses on single-tenant industrial real estate investments and aims to expand its portfolio through various transactions.

Lexington Realty Trust (LXP) reported strong fourth-quarter results for 2020, with net income of $102.7 million ($0.37/share) and Adjusted Company FFO of $55.0 million ($0.19/share). The company collected 99.8% of cash base rents, disposed of eight properties for $292.3 million, and acquired four for $182 million. The industrial portfolio rose to 90.8% of total assets. In 2020, net income was $176.8 million ($0.66/share), with rental renewals increasing by 17.5%. The company has healthy leverage at 4.8x and expects 2021 diluted income of $0.58-$0.62/share.

Lexington Realty Trust (NYSE: LXP) will release its fourth quarter 2020 financial results on February 18, 2021, in the morning. A conference call will follow at 8:30 a.m. Eastern Time to discuss the results. Participants can join the call by dialing US: 1-844-825-9783 or accessing the webcast via this link. A telephone replay will be available until May 18, 2021. Lexington focuses on single-tenant industrial real estate investments and aims to grow its portfolio through various transactions.

Lexington Realty Trust (LXP) announced its final 2020 dividend income allocations for common and preferred shares. The dividend distributions per common share totaled $0.105 for Q4 2019 and repeated through Q3 2020, contributing to a consistent dividend income stream. Preferred shares received a distribution of $0.8125 on January 31, April 30, July 31, and October 30, 2020. Tax reporting requirements were fulfilled with details provided on Form 1099-DIV and Form 8937, accessible on Lexington's website.

Lexington Realty Trust (NYSE:LXP) has sold its interest in a Texas office property leased to Dow Chemical for $192 million, recognizing an anticipated $57 million gain. Additionally, the company has acquired a 201,784 square foot warehouse in Phoenix, Arizona for $88 million, fully leased to a leading e-commerce company until March 2033. These transactions align with Lexington's strategy to expand its industrial portfolio through focused acquisitions and real estate investments.

Lexington Realty Trust (NYSE:LXP) reported Q3 2020 earnings with net income of $40.3 million ($0.15/share) and Adjusted Company FFO of $53.8 million ($0.19/share). Total revenues rose to $84.5 million, up from $81.6 million in Q3 2019. The company secured 99.9% of cash base rents and expanded its industrial portfolio to 88.5% of total assets. A quarterly dividend of $0.1075 per common share was declared, marking a 2.4% increase. Lexington also acquired properties worth $70.1 million and disposed of assets totaling $66.5 million during the quarter.