Every 10-Q that Lxp Industrial Trust (LXP) has filed with the SEC in the last 24 months is listed below, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 10-Q covers the quarterly report filed between annual reports, so if you follow LXP and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full LXP filings page.
LXP Industrial Trust reported near break-even results for Q2 2026, with a net loss attributable to common shareholders of approximately $1.6 million, or $(0.03) per diluted share, on rental revenue of $87.1 million. For the first six months, rental revenue was $172.1 million and operating cash flow was $86.2 million, supporting development spending and debt service.
As of June 30, 2026, the trust owned 109 industrial properties across 14 states totaling about 53.3 million square feet and 97.4% leased. Real estate, net, was $3.23 billion and total debt obligations were $1.36 billion, including $1.33 billion of unsecured debt. The company invested $102.4 million in development and redevelopment projects and expects to incur an additional $164.3 million on its consolidated and unconsolidated development pipeline. It also repurchased about 0.3 million common shares at an average price of $48.70.
Subsequent to quarter-end, LXP agreed to merge with Leopard Merger Sub LLC, with each common share to be converted into cash of $61.20 per share at closing, subject to customary conditions including shareholder approval. Series C Preferred shares will convert into surviving preferred units. The agreement includes a Go-Shop Period through August 28, 2026 and a potential termination fee of about $54.1 million. Under the merger terms, regular common dividends are suspended, while Series C Preferred dividends may continue.
LXP Industrial Trust reported essentially stable cash performance but a GAAP loss for Q1 2026. Rental revenue was $85.9M, down modestly from $88.9M a year earlier, mainly from prior-year property sales and vacancies. Net income attributable to common shareholders swung to a loss of $1.9M, or $(0.03) per share, versus income of $17.3M, or $0.30, largely because 2025 included a $24.6M gain on a property sale.
Cash-focused metrics were steadier. Funds From Operations available to all equityholders rose to $47.3M, or $0.80 per diluted share, from $46.1M, or $0.78. Same-store NOI increased 2.0% to $67.4M, helped by higher cash base rents, with same-store occupancy at 96.6%.
LXP ended the quarter with $130.1M in cash and $1.35B of total debt, 98.6% fixed-rate. It extended and repriced its $600M unsecured revolver and $250M term loan, had no revolver borrowings, and repurchased 0.3 million common shares at an average $48.70. Development and redevelopment spending in construction totaled $68.8M, with about $110.1M of additional expected project and infrastructure costs.
LXP Industrial Trust reported third-quarter 2025 results with total gross revenues of $86.9 million and rental revenue of $85.8 million. Net income rose to $42.4 million (vs. $5.6 million a year ago), driven largely by a $46.2 million gain on real estate sales. Diluted EPS was $0.12.
Year to date, gains on sale reached $102.1 million, and net cash from operating activities was $146.8 million. The balance sheet showed $229.7 million in cash and cash equivalents and total debt of $1.49 billion, with an undrawn $600 million revolving credit facility. During the quarter, LXP sold interests in five facilities for $198.3 million, acquired a warehouse in Atlanta for $30.0 million, and reported its stabilized portfolio 96.8% leased.
Development investments totaled $37.9 million, with $83.3 million in land held for development. The company paid a common dividend of $0.135 per share in the quarter. Subsequent events include repaying $140.0 million of 6.750% notes via a tender offer, with an expected extinguishment loss of about $12.6 million, and board approval of a 1-for-5 reverse split expected on or about November 10, 2025.
LXP Industrial Trust’s Q2-25 10-Q shows materially stronger headline earnings, primarily from asset sales, while core operating trends remain steady.
- Income statement: Rental revenue rose 2.3% YoY to $86.7 M; total gross revenue reached $87.7 M. Net income attributable to common shareholders jumped to $27.5 M ($0.09/sh) vs $3.8 M ($0.01/sh) in Q2-24, driven by a $31.3 M gain on sale/disposal of real estate.
- Year-to-date: Six-month net income to common shareholders climbed to $44.7 M ($0.15/sh) from $1.8 M. Gains on real-estate sales totaled $56.0 M YTD.
- Balance sheet: Total assets slipped 3.3% YTD to $3.72 B as cash fell to $71.0 M. Debt declined $78.6 M to $1.49 B after a $50 M term-loan pay-down and $28.1 M repurchase of trust-preferred securities at a 5% discount. Leverage (debt/total assets) improved to 40.1% from 40.8%.
- Equity & dividends: Common dividend lifted to $0.135/sh (vs $0.13) consuming $41.3 M in Q2. Accumulated distributions still exceed net income by $1.35 B.
- Operations: Portfolio 94.1% leased (56.4 MM sq ft across 16 U.S. states). 1.1 MM sq ft of vacant space was leased at $5.50 psf; two redevelopment projects (Orlando & Richmond) totaling 0.6 MM sq ft initiated. Same-store rent escalations and lease extensions averaged +18% cash spread.
- Liquidity: No borrowings on $600 M revolver; interest expense fell 6.4% YoY to $16.5 M. Operating cash flow reached $83.3 M YTD (+7.6%) vs $77.4 M.
- Risk & hedging: Unrealised derivative loss of $4.5 M reduced OCI; 63% of variable-rate debt swapped through 2027 (notional $632.5 M).
Management reiterates a development-led growth strategy focused on Sunbelt/L. Midwest markets while using asset sales to recycle capital and reduce leverage. Near-term earnings visibility rests on lease-up of recently completed developments and successful execution of the $44 M remaining cap-ex pipeline.