Lxp Industrial Trust Stock Price, News & Analysis

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.

Lexington Realty Trust (NYSE:LXP) will release its Q3 2020 financial results on November 5, 2020, followed by a conference call at 8:30 a.m. ET. The call will be accessible via US at 1-844-825-9783 and internationally at 1-412-317-5163. Participants can also join through a webcast available on their investor relations website. A replay will be available until February 5, 2021. Lexington specializes in single-tenant industrial real estate, seeking growth through various investment strategies.

On September 14, 2020, Lexington Realty Trust announced the expiration of cash tender offers for its 4.25% Senior Notes due 2023 and 4.40% Senior Notes due 2024, with a maximum combined principal amount of $300 million. The offers concluded on September 11, 2020, allowing for the purchase of $155,000 and $150,000 of the respective notes. A total of 24.50% and 20.43% of the principal amounts of each series were tendered. Tender offers were managed by Wells Fargo Securities, with final settlement expected on September 15, 2020.

Lexington Realty Trust (NYSE: LXP) announced early tender results for cash tender offers totaling up to $300 million for its outstanding Senior Notes: $250 million of 4.25% Notes due 2023 and $250 million of 4.40% Notes due 2024. As of August 27, 2020, valid tendered amounts are $61.09 million (2023) and $50.92 million (2024). Payments will be made on August 31, 2020, with a total consideration of $1,071.25 per $1,000 for the 2023 Notes and $1,093.75 for the 2024 Notes. The tender offers expire on September 11, 2020.

Lexington Realty Trust (NYSE: LXP) has priced a public offering of $400 million in 2.700% senior unsecured notes due September 15, 2030, at 99.233% of the principal amount. The offering is expected to close on August 28, 2020, pending customary conditions. Proceeds will fund the tender offers for up to $300 million of outstanding senior notes due 2023 and 2024, with remaining funds allocated for general corporate purposes, including debt repayment and potential acquisitions.

Lexington Realty Trust (NYSE: LXP) announced cash tender offers to purchase up to $300 million of its 4.25% Senior Notes due 2023 and 4.40% Senior Notes due 2024. The offers will expire at 11:59 p.m. ET on September 11, 2020. Holders who tender by 5:00 p.m. ET on August 27, 2020, are eligible for an early tender premium. Settlement dates are expected for August 31, 2020 and September 15, 2020. The tender offers are contingent on a public offering of senior debt securities.

Lexington Realty Trust (NYSE:LXP) reported strong financial results for Q2 2020, with net income of $17.3 million ($0.06 per diluted share) and Adjusted Company FFO of $51.4 million ($0.19 per diluted share). The company collected 99.5% of Cash Base Rents and increased industrial renewal Cash Base Rents by 21.6%. During the quarter, Lexington acquired six industrial properties for $164.3 million and disposed of three for $44.4 million. The portfolio's overall leased rate is 97.3%, reflecting robust lease activity. Proceeds from an equity offering reached $201 million.

Lexington Realty Trust (NYSE: LXP) announced it will release its second quarter 2020 financial results on August 6, 2020, and host a conference call at 8:30 a.m. ET. Participants can join via telephone or webcast. Lexington focuses on single-tenant industrial real estate investments and aims to expand its portfolio through various transactions, including build-to-suit and acquisition. The company encourages participants to access the call 15 minutes early for software installation.

Lexington Realty Trust (NYSE:LXP) declared a quarterly common share/unit dividend of $0.105 per share, payable on or about July 15, 2020, to shareholders of record as of June 30, 2020. Additionally, it announced a cash dividend of $0.8125 per share for its Series C Cumulative Convertible Preferred Stock, payable on or about August 17, 2020, to shareholders of record as of July 31, 2020. Lexington aims to expand its industrial real estate portfolio through various investment strategies.