Welcome to our dedicated page for LXP Industrial Trust news (Ticker: LXP), a resource for investors and traders seeking the latest updates and insights on LXP Industrial Trust stock.
LXP Industrial Trust (NYSE: LXP) is a specialized real estate investment trust (REIT) that focuses on single-tenant warehouse and distribution centers across the United States. Headquartered in New York, the company is dedicated to owning and managing high-quality industrial properties that are net leased to major corporations.
The majority of LXP's revenue is derived from rental income, showcasing the stability and recurring nature of its business model. As of June 30, 2023, LXP's stabilized industrial portfolio was impressively 99.5% leased. In the first half of 2023 alone, the company successfully negotiated leases covering 4.2 million square feet, with base and cash base rents increasing by 40.8% and 25.8%, respectively.
Recent milestones highlight LXP's robust performance and strategic growth. In the third quarter of 2023, the Board authorized a 4% increase in dividends, reflecting the company's strong financial health and commitment to shareholder value. Additionally, LXP continues to expand its footprint with significant projects and acquisitions, including the partial completion of the South Shore development project and strategic land purchases for future industrial developments.
LXP also provides investment advisory and asset management services to investors in the net lease sector, further diversifying its revenue streams and leveraging its expertise in the real estate market. The company is known for its disciplined and strategic approach to capital allocation, ensuring long-term value creation for its stakeholders.
For investors seeking a reliable and growth-oriented player in the industrial real estate sector, LXP Industrial Trust represents a compelling opportunity. With a consistent track record of high occupancy rates, strategic lease agreements, and a strong focus on industrial properties, LXP is well-positioned to capitalize on the growing demand for warehouse and distribution spaces in the U.S.
For more detailed information and the latest updates on LXP Industrial Trust's performance, financials, and strategic initiatives, interested parties can contact Heather Gentry, Senior Vice President of Investor Relations, at (212) 692-7200 or via email at hgentry@lxp.com.
LXP Industrial Trust (NYSE: LXP), a real estate investment trust focused on single-tenant industrial properties, announced its final 2022 dividend allocations for common and preferred shares. The common shares will receive $0.1200 per share, while the Series C preferred shares will receive $0.8125 per share, with record dates and payable dates specified. Additionally, the company reported returns of capital on common shares and filed IRS Form 8937 for tax purposes. The firm is actively expanding its portfolio through acquisitions and development projects, underscoring its commitment to growth.
LXP Industrial Trust (LXP) announced a 4.2% increase in its quarterly common share dividend, raising it to $0.125 per share for Q4 2022. For Q3 2022, net income attributable to common shareholders was $21.8 million ($0.08/share), showing significant improvement from $5.0 million in Q3 2021. Adjusted Company Funds From Operations (FFO) totaled $48.1 million ($0.17/share), down from $53.6 million ($0.19/share) year-over-year. LXP reported total gross revenues of $80.1 million, slightly declining from $83.4 million a year prior, primarily due to property sales.
LXP Industrial Trust announced the publication of its 2021 Corporate Responsibility Report, highlighting its commitment to enhanced environmental, social, governance, and resilience (ESG+R) initiatives. The report aligns with key sustainability frameworks and showcases LXP’s accomplishments, including receiving an above-average score from GRESB and obtaining over 1.3 million square feet of green building certifications. Additionally, LXP executed 14 green leases and achieved a tenant satisfaction score of 4.11 out of 5, exceeding industry benchmarks.
LXP Industrial Trust (NYSE:LXP) will announce its third quarter 2022 financial results on November 3, 2022. A conference call will follow at 8:30 a.m. ET to discuss these results. Participants can join the call via telephone at (888) 660-6082, using Conference ID 1576583, or access the webcast through provided links. A replay of the call will be available until February 1, 2023. LXP is a publicly traded REIT focused on single-tenant warehouse and distribution properties in the U.S. For further information, visit www.lxp.com.
LXP Industrial Trust (NYSE: LXP) has declared a quarterly dividend of $0.12 per common share/unit for the quarter ending September 30, 2022, payable on or about October 17, 2022. Shareholders of record as of September 30, 2022 will qualify for this distribution. Additionally, a cash dividend of $0.8125 per share for Series C Cumulative Convertible Preferred Stock was announced, scheduled for payment on or about November 15, 2022, to shareholders of record by October 31, 2022. LXP focuses on single-tenant industrial real estate investments in the U.S.
LXP Industrial Trust (NYSE:LXP) reported robust second-quarter results for 2022, achieving a net income of $39.7 million, or $0.14 per share. The company generated $48.9 million in Adjusted Company FFO, equating to $0.17 per share. LXP executed new leases totaling 0.9 million square feet, with significant rent increases of 21.3% for Base Rents. During the quarter, it repurchased 6.1 million shares for an average of $11.45 each and successfully disposed of three properties for $55.1 million. The company’s debt profile improved with an extended unsecured credit facility maturing in July 2026.
LXP Industrial Trust has appointed Derrick Johnson to its Board of Trustees, effective immediately. With extensive experience in operations and strategy, Johnson previously served as Senior Vice President at Agiliti and has 20 years of experience with UPS, including a role as President of the Southeast. This appointment reflects LXP's commitment to enhancing its board with experienced and diverse perspectives. His expertise in supply chain and logistics is expected to align with LXP's focus on warehouse and distribution investments.
LXP Industrial Trust (NYSE: LXP), a real estate investment trust specializing in single-tenant warehouse and distribution properties, will release its second quarter 2022 financial results on August 4, 2022. A conference call will be held at 8:30 a.m. ET the same day to discuss the results. Participants can join the call via U.S. numbers (855) 459-0167 or (973) 528-0145, with an international link provided. A telephone replay will be available until November 4, 2022, and the webcast can be accessed for a year.
LXP Industrial Trust (NYSE: LXP) has declared a quarterly common share dividend of $0.12 per share, payable on or about July 15, 2022 to shareholders of record as of June 30, 2022. Additionally, a cash dividend of $0.8125 per share of Series C Cumulative Convertible Preferred Stock will be paid on or about August 15, 2022 to shareholders of record as of July 29, 2022. LXP focuses on single-tenant industrial real estate investments and aims to expand its portfolio through acquisitions and development projects.
LXP Industrial Trust (LXP) announced its Q1 2022 results, reporting a net income of $9.0 million ($0.03/share) and adjusted Company FFO of $48.1 million ($0.16/share). Total revenues decreased to $80.3 million from $92.6 million in Q1 2021 due to lower termination fees and property sales. The company completed 2.3 million square feet of new leases, increasing Base and Cash Base rents by 27.7% and 18.1%. LXP acquired two facilities for $72 million and invested $68.8 million in ongoing projects, while reaffirming its 2022 guidance for net income between $0.43 and $0.47/share.
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