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Lxp Industrial Trust - LXP STOCK NEWS

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.

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LXP Industrial Trust (NYSE:LXP) received a non-binding acquisition proposal from Land & Buildings Investment Management on January 28, 2022. The offer is priced at $16.00 per share in cash, representing a 22% premium over the unaffected price prior to engagement discussions. LXP's Board of Trustees will review the proposal, which is contingent upon satisfactory due diligence and necessary approvals. Land & Buildings expressed readiness to provide financing simultaneously with a definitive agreement. They urged the Board to share any additional value documentation that could warrant an increased offer.

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LXP Industrial Trust (NYSE:LXP) announced it will release its fourth quarter 2021 financial results on February 24, 2022. A conference call will follow at 8:30 a.m. Eastern Time to discuss the results. Participants can join the call at 1-844-200-6205 for US callers and 1-929-526-1599 for international callers, using the access code 323564.

A telephone replay will be available until March 24, 2022. For more details, visit their official website.

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LXP Industrial Trust (NYSE: LXP) announced its final 2021 dividend income allocations for common and preferred shares. Common shares received a total distribution of $0.1075 per share with ordinary dividends of $0.070937, payable on January 15, 2021. The preferred series C shares received $0.8125 per share, payable on February 16, 2021. The company provided required tax reporting forms, including Form 1099-DIV and Form 8937, which are available on its website. This allocation reflects LXP’s commitment to providing returns to its investors.

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LXP Industrial Trust (NYSE: LXP) announced a recapitalization of a 22-property special purpose industrial portfolio valued at $550 million in a joint venture with Davidson Kempner Capital Management. This move aims to reposition LXP as a pure-play single-tenant industrial REIT. The transaction is expected to generate approximately $487 million in net proceeds for debt reduction and further investments in warehouse and distribution facilities. The joint venture also includes a $381 million mortgage loan and a $250 million equity commitment for future acquisitions.

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Lexington Realty Trust (NYSE:LXP) has responded to Land & Buildings Investment Management, LLC's nomination of two trustee candidates for LXP's 2022 Annual Meeting. The company values dialogue with shareholders and emphasizes its commitment to corporate governance. LXP's Board has been refreshed with five new independent trustees since 2015, improving diversity and expertise. The transformation to a predominantly single-tenant industrial REIT has resulted in a portfolio comprising 95% industrial properties as of Q3 2021, leading to a total shareholder return of 96% since 2018.

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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.

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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.

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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.

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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.

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FAQ

What is the current stock price of Lxp Industrial Trust (LXP)?

The current stock price of Lxp Industrial Trust (LXP) is $8.63 as of February 21, 2025.

What is the market cap of Lxp Industrial Trust (LXP)?

The market cap of Lxp Industrial Trust (LXP) is approximately 2.6B.

What does LXP Industrial Trust do?

LXP Industrial Trust is a real estate investment trust that focuses on owning and managing single-tenant warehouse and distribution centers across the United States.

How does LXP generate revenue?

LXP primarily generates revenue through rental income from its leased industrial properties.

What recent achievements has LXP accomplished?

Recent achievements include a 99.5% leased portfolio as of June 30, 2023, significant lease agreements covering 4.2 million square feet, and a 4% increase in dividends.

What is the focus of LXP's real estate investments?

LXP focuses on single-tenant warehouse and distribution real estate investments.

How can I get in touch with LXP's investor relations?

You can contact Heather Gentry, Senior Vice President of Investor Relations, at (212) 692-7200 or via email at hgentry@lxp.com.

Where is LXP headquartered?

LXP Industrial Trust is headquartered in New York, United States.

What was LXP's portfolio occupancy rate as of mid-2023?

LXP's stabilized industrial portfolio was 99.5% leased as of June 30, 2023.

Does LXP provide any services beyond property management?

Yes, LXP provides investment advisory and asset management services to investors in the net lease sector.

What are some key projects LXP is involved in?

Key projects include the South Shore development project and various strategic land acquisitions for future industrial development.

Why should investors consider LXP Industrial Trust?

Investors should consider LXP for its high occupancy rates, strategic lease agreements, strong financial health, and focus on the growing industrial real estate sector.
Lxp Industrial Trust

NYSE:LXP

LXP Rankings

LXP Stock Data

2.55B
288.26M
2.54%
96.35%
1.89%
REIT - Industrial
Real Estate Investment Trusts
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United States
NEW YORK