INVESTOR PRESENTATION All company names are trademarks , registered® trademarks or service marks of their respective holders. Use of them does not imply any affiliation with or endorsement of them. 2 LXPINDUSTRIAL TRUST FIRST QUARTER 2025 LXPINDUSTRIAL TRUST Forward-Looking Statements and Other Disclosure This presentation contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended ...

WEST PALM BEACH, Fla., May 01, 2025 (GLOBE NEWSWIRE) -- LXP Industrial Trust (“LXP”) (NYSE:LXP), a real estate investment trust focused on Class A warehouse and distribution real estate investments, today announced results for the quarter ended March 31, 2025. First Quarter 2025 Highlights Recorded Net Income attributable to common shareholders of $17.3 million, or $0.06 per diluted common share.Generated Adjusted Company Funds From Operations available to all equityholders - diluted (“Adjusted Company FFO” ...

WEST PALM BEACH, Fla., April 03, 2025 (GLOBE NEWSWIRE) -- LXP Industrial Trust (NYSE: LXP) (“LXP”), a real estate investment trust (REIT) focused on Class A warehouse and distribution real estate investments, today announced it will release its first quarter 2025 financial results the morning of Thursday, May 1, 2025. LXP will host its conference call and webcast that same day at 8:30 a.m., Eastern Time to discuss these results. Participants may access the call and webcast by the following: Conference Call: ...

Core Insights - Albert Anthony is a Croatian-American media personality active on investor platforms, focusing on markets and stocks, with a growing follower base of over 1,000 since 2023 [1] - He is set to launch a new book titled "Financial Markets: Growing A Dividend Income Portfolio" in 2025, coinciding with an ongoing article series on the same topic [1] - Albert Anthony has a background in management and information systems, having worked in a top-10 financial firm's IT department [1] Company Profile - Albert Anthony & Co. is a sole proprietorship registered in Austin, Texas, and is wholly owned by Albert Anthony [1] - The company does not provide personalized financial advisory services but offers general market commentary based on publicly available data [1] Investment Focus - Albert Anthony has launched the Future Investor Fund, which aims to build a dividend portfolio [1] - The company emphasizes the importance of due diligence for investors, indicating that all investments carry risk [1]

Financial Performance - Recorded net income attributable to common shareholders of $31.4 million, or $0.11 per diluted common share for Q4 2024, compared to $13.0 million, or $0.04 per diluted common share in Q4 2023[8]. - Total gross revenues for Q4 2024 were $100.9 million, compared to $83.0 million in Q4 2023, primarily due to additional rental revenue and acquisitions[7]. - Net income attributable to common shareholders for Q4 2024 was $31,389,000, a significant increase of 142.5% from $12,985,000 in Q4 2023[51]. - The net income per common share (diluted) for Q4 2024 was $0.11, compared to $0.04 in Q4 2023, representing a 175% increase[51]. - Total gross revenues for the twelve months ended December 31, 2024, increased to $358,458,000, compared to $340,503,000 for the same period in 2023, reflecting a growth of 5.3%[47]. - Funds from operations (FFO) available to common shareholders was reported at $XX million, representing a YY% increase from the prior year, highlighting improved operational efficiency[39]. - Funds from operations (FFO) available to common shareholders - diluted for Q4 2024 was $61,679 million, compared to $51,217 million in Q4 2023, reflecting an increase of 20.4%[54]. - Adjusted Company FFO available to all equityholders - diluted for Q4 2024 was $46,951 million, down from $51,352 million in Q4 2023, a decrease of 8.3%[54]. - Company Funds Available for Distribution for Q4 2024 was $43,533 million, slightly lower than $44,417 million in Q4 2023, a decrease of 2.0%[54]. Operational Highlights - Generated Adjusted Company Funds From Operations (FFO) of $47.0 million, or $0.16 per diluted common share for Q4 2024, down from $51.4 million, or $0.17 per diluted common share in Q4 2023[10]. - Increased Same-Store Net Operating Income (NOI) by 5.0% compared to 2023[9]. - Same-Store NOI increased by YY%, demonstrating positive trends in occupancy levels and rental rates across stabilized properties[43]. - Completed 4.5 million square feet of new leases and lease extensions in 2024, raising Base and Cash Base Rents by 46.5% and 39.7%, respectively[6]. - Rental revenue for Q4 2024 was $99,829,000, up 21.9% from $81,894,000 in Q4 2023[47]. - LXP's stabilized portfolio is expected to maintain an occupancy rate of at least 90%, contributing to consistent revenue generation[45]. Acquisitions and Dispositions - Acquired four warehouse facilities for an aggregate cost of $157.6 million[5]. - Disposed of four warehouse facilities for an aggregate gross price of $165.3 million in 2024[9]. - The company is focusing on market expansion through strategic acquisitions, with plans to invest $XX million in new properties over the next fiscal year[4]. - LXP has allocated $XX million for second generation costs to enhance existing properties, ensuring sustained revenue levels[44]. Financial Guidance and Projections - 2025 earnings guidance estimates net income attributable to common shareholders to be within $0.01 to $0.05 per diluted common share and Adjusted Company FFO to be within $0.61 to $0.65 per diluted common share[25]. - The company anticipates achieving net income attributable to common shareholders of $XX million for the year ending December 31, 2025, reflecting optimistic future growth expectations[4]. - Estimated Adjusted Company FFO per diluted common share for 2025 is projected to be between $0.61 and $0.65[58]. Debt and Financial Position - LXP's total consolidated debt was $1.6 billion at quarter end, with a net debt to Adjusted EBITDA ratio of 5.9x[24]. - Total assets as of December 31, 2024, were $3,843,312,000, down from $4,192,775,000 in 2023, indicating a decrease of 8.3%[49]. - Total liabilities decreased to $1,722,529,000 in 2024 from $1,927,318,000 in 2023, a reduction of 10.6%[49]. - Cash and cash equivalents decreased to $101,836,000 in 2024 from $199,247,000 in 2023, a decline of 48.9%[49]. - The company’s accumulated distributions in excess of net income increased to $(1,316,993,000) in 2024 from $(1,201,824,000) in 2023, reflecting a growing deficit[49]. Management and Strategic Focus - LXP's management remains committed to maintaining its status as a real estate investment trust (REIT), with ongoing evaluations of dividend declarations and financial strategies[1]. - The company is actively monitoring economic conditions and potential risks, including inflation and supply chain disruptions, which could impact future performance[1]. - The company reported impairment charges of $295 million for real estate in Q4 2024, a significant decrease from $1,369 million in Q4 2023[54]. - Preferred dividends for the twelve months ended December 31, 2024, remained constant at $6,290 million compared to 2023[54].

Debt and Interest Rates - As of December 31, 2024, the company's consolidated aggregate principal variable-rate indebtedness not subject to interest rate swaps was $46.6 million, representing 2.9% of total indebtedness[312]. - The weighted-average interest rate for variable-rate indebtedness was 7.2% for 2024, compared to 6.8% for 2023[312]. - The company's aggregate principal consolidated fixed-rate debt was $1.5 billion as of December 31, 2024, representing 97.1% of total indebtedness[312]. - If the weighted-average interest rate had been 100 basis points higher, interest expense would have increased by $1.2 million for 2024[312]. - The fair value of the company's fixed-rate debt was estimated at $1.4 billion as of December 31, 2024[313]. - The company had 11 interest rate swap agreements in place as of December 31, 2024, with expiration dates ranging from January 2025 to October 2027[314]. - The Company utilizes interest rate swap agreements to manage interest rate risk, with fair values recorded on the balance sheet[389]. - The total interest expense recorded in the consolidated statements of operations was $66,477 for 2024, compared to $46,389 for 2023[474]. Financial Performance - Total gross revenues for 2024 increased to $358.458 million, up 5.4% from $340.503 million in 2023[340]. - Rental revenue rose to $354.353 million in 2024, compared to $334.220 million in 2023, reflecting a growth of 6.0%[340]. - Net income attributable to common shareholders for 2024 was $37.922 million, a significant increase of 58.8% from $23.863 million in 2023[340]. - Comprehensive income attributable to LXP Industrial Trust shareholders for 2024 was $41.187 million, compared to $22.177 million in 2023, an increase of 85.7%[343]. - The company reported a depreciation and amortization expense of $192.863 million in 2024, up from $183.524 million in 2023[340]. - Basic earnings per share for 2024 was $0.13, compared to $0.08 in 2023[404]. - The Company recognized sales-type lease income of $22,027,000 in 2024, significantly higher than $7,427,000 in 2023, reflecting a growth of 196.5%[441]. Assets and Liabilities - Total assets decreased to $3.843 billion in 2024 from $4.193 billion in 2023, a decline of 8.3%[338]. - Total liabilities reduced to $1.723 billion in 2024, down from $1.927 billion in 2023, representing a decrease of 10.6%[338]. - The company's total shareholders' equity decreased to $2.098 billion in 2024 from $2.232 billion in 2023, a decline of 6.0%[338]. - The total assets of consolidated variable interest entities (VIEs) were $392,791 as of December 31, 2024, down from $626,442 in 2023, representing a decrease of approximately 37.3%[362]. - Total liabilities for consolidated VIEs decreased to $8,603 as of December 31, 2024, from $19,549 in 2023, a reduction of approximately 56.0%[362]. Shareholder Information - The company declared dividends of $0.525 per common share, totaling $164.084 million in 2024[346]. - The company declared dividends/distributions of $0.505 per common share, totaling $160,470,000 for 2023[351]. - Total dividends per share increased to $0.52 in 2024 from $0.50 in 2023 and $0.48 in 2022[506]. - The Company had 1,935,400 shares of Series C Preferred Stock outstanding as of December 31, 2024, with a dividend of $3.25 per share[483]. - The Company did not repurchase any common shares during 2024 and 2023, with 6,874,241 shares remaining available for repurchase under the authorization[482]. Real Estate and Investments - The company had ownership interests in approximately 119 consolidated real estate properties located in 17 states as of December 31, 2024[356]. - The Company capitalizes direct and indirect project costs associated with property construction until the property is stabilized, which is defined as 90% occupancy or one year from major construction cessation[380]. - The Company evaluates the carrying value of real estate assets for possible impairment when events indicate that the carrying value may not be recoverable[374]. - The Company recognized no impairment charges in 2024, while it recorded impairment charges of $16,490 and $3,037 in 2023 and 2022, respectively[418]. - The total cost of real estate investments in 2024 amounted to $4,583,512, compared to $4,488,862 in 2023, indicating an increase of about 2.1%[406]. Taxation - The provision for income taxes for 2024 was $127,000, compared to a negative provision of $(703,000) in 2023[504]. - The total income tax provision for 2024 is $127 million, a significant increase from a provision of $(703) million in 2023 and $(1,102) million in 2022[505]. - The federal provision at the statutory tax rate (21%) for 2024 is $77 million, compared to $71 million in 2023 and $18 million in 2022[505]. - The estimated net operating loss carry forward for income tax reporting purposes is $789 million for 2024, up from $423 million in 2023[506]. Cash Flow and Capital Expenditures - Cash provided by operating activities for 2023 was $211,187,000, slightly up from $209,446,000 in 2022[353]. - The company reported a net cash used in investing activities of $86,403,000 in 2023, compared to a net cash used of $183,451,000 in 2022[353]. - The company made capital expenditures of $17,782,000 in 2023, consistent with $17,937,000 in 2022[353]. - The Company incurred $5,947 related to infrastructure development costs at the Reems & Olive project, recorded in investments in real estate under construction[414]. Miscellaneous - The Company operates in one segment focused on single-tenant real estate assets[399]. - As of December 31, 2024, the Company was not aware of any environmental matters that would materially impact the consolidated financial statements[398]. - The Company has made an election to qualify as a REIT for federal income tax purposes, generally avoiding federal income tax[392]. - The Company adopted ASC 326 on January 1, 2020, which requires measuring and recording current expected credit losses for investments[385].

Financial Data and Key Metrics Changes - Total gross revenues in Q4 were approximately $101 million, including $15 million from a sales-type lease due to the exercise of a purchase option at the Phoenix ground lease asset [28] - Adjusted company FFO for Q4 was $0.16 per diluted common share, with full year 2024 adjusted company FFO at $0.64 per diluted common share [29] - Same-store NOI increased by 4.1% in Q4 compared to the same period in 2023, with a year-end same-store portfolio occupancy of 99.5% [31] Business Line Data and Key Metrics Changes - Leasing volume in Q4 reached nearly 1 million square feet, with base and cash-based rental increases of approximately 66% and 43% respectively, excluding fixed-rate renewals [7] - The company completed 4.5 million square feet of leasing volume for the year, achieving strong same-store NOI growth of 5% [9] - Average annual escalators reached 2.8% at year-end, indicating a positive trend in rental growth [9] Market Data and Key Metrics Changes - The markets primarily operated in, such as the Sunbelt and Lower Midwest, showed more resilient industrial fundamentals compared to select coastal markets [12] - U.S. manufacturing activity expanded in January after 26 consecutive months of contraction, indicating a potential recovery in the industrial sector [13] - National vacancy rates ticked up slightly in Q4 but are expected to peak by mid-2025, with average national asking rents showing slight increases [22] Company Strategy and Development Direction - The company plans to focus on reducing leverage over time by growing EBITDA through leasing vacant assets and increasing rents with annual escalators [10] - The strategy includes a cautious optimism for 2025, with expectations of improved industrial fundamentals and a focus on resolving remaining vacancies [12][15] - The company aims to capitalize on build-to-suit opportunities and maintain a core portfolio positioned in markets benefiting from long-term demographic trends and advanced manufacturing investments [15] Management's Comments on Operating Environment and Future Outlook - Management expressed cautious optimism for 2025, noting increased tenant interest and improved leasing activity in early 2025 [12] - The company acknowledged the uncertain environment but highlighted the positive factors of below-market rents and a predominantly Class A portfolio [13] - Full year 2025 adjusted company FFO guidance is set between $0.61 and $0.65 per diluted common share, reflecting the impact of big box leasing on funds from operation [14] Other Important Information - The company sold its remaining consolidated office assets and opportunistically divested four industrial assets, resulting in considerable value creation [8] - The company’s total consolidated debt outstanding was approximately $1.6 billion with a weighted average interest rate of 3.68% [31] - G&A expenses for Q4 were approximately $10 million, with expectations for 2025 G&A to be in the range of $39 million to $41 million [30] Q&A Session Summary Question: Can you elaborate on the larger box developments and the environment? - Management noted increased activity in January compared to the previous year, with a broad range of tenants showing interest, including construction and e-commerce [35][38] Question: What is the competitive landscape for your development projects? - Management indicated that competition for large buildings is limited, with only a few competitors in specific submarkets [48] Question: What are the expectations for tenant retention and lease expirations? - Management acknowledged known move-outs and expressed conservatism regarding tenant retention, with expectations for strong mark-to-market on certain assets [42][43] Question: Can you discuss the near-term capital allocation plan? - The company plans to focus on core markets for capital allocation, with an emphasis on build-to-suit projects and reducing leverage [52] Question: How do you see the guidance for 2025 in relation to leasing activity? - Management confirmed that the low end of guidance assumes no leasing of recently developed properties, while the higher end anticipates more activity in the second half of the year [55]

Group 1: Financial Performance - LXP Industrial reported quarterly funds from operations (FFO) of $0.16 per share, matching the Zacks Consensus Estimate, but down from $0.17 per share a year ago [1] - The company posted revenues of $100.85 million for the quarter ended December 2024, exceeding the Zacks Consensus Estimate by 19.25%, compared to $82.96 million in the same quarter last year [2] - The current consensus FFO estimate for the upcoming quarter is $0.16 on revenues of $85.94 million, and for the current fiscal year, it is $0.63 on revenues of $348.97 million [7] Group 2: Market Performance and Outlook - LXP Industrial shares have increased by approximately 0.6% since the beginning of the year, while the S&P 500 has gained 2.9% [3] - The stock currently holds a Zacks Rank 3 (Hold), indicating it is expected to perform in line with the market in the near future [6] - The outlook for the REIT and Equity Trust - Residential industry is currently in the bottom 22% of over 250 Zacks industries, which may impact LXP Industrial's stock performance [8] Group 3: Estimate Revisions and Trends - The estimate revisions trend for LXP Industrial is mixed, and changes in these estimates could affect stock performance following the earnings report [6] - Empirical research indicates a strong correlation between near-term stock movements and trends in estimate revisions, which investors can track [5]

Core Insights - LXP Industrial Trust reported strong financial performance for the fourth quarter and full year of 2024, driven by significant leasing activity and same-store growth [4][6][22]. Financial Performance - For Q4 2024, total gross revenues reached $100.9 million, up from $83.0 million in Q4 2023, primarily due to increased rental revenue and acquisitions [6]. - Net income attributable to common shareholders for Q4 2024 was $31.4 million, or $0.11 per diluted share, compared to $13.0 million, or $0.04 per diluted share in Q4 2023 [7]. - Adjusted Company Funds From Operations (FFO) for Q4 2024 was $47.0 million, or $0.16 per diluted share, down from $51.4 million, or $0.17 per diluted share in Q4 2023 [8]. Leasing Activity - LXP completed 4.5 million square feet of leasing throughout 2024, with Base and Cash Base rents increasing by approximately 46% and 40%, respectively [4][21]. - The stabilized portfolio was 93.6% leased as of December 31, 2024, reflecting strong demand in the market [21]. Acquisitions and Developments - The company acquired four Class A properties for a total cost of $157.6 million and completed a 625,238 square foot build-to-suit facility in South Carolina [4][11][12]. - Total acquisition and build-to-suit activity for 2024 amounted to approximately $232.0 million [13]. Balance Sheet and Debt Management - LXP ended 2024 with a net debt to Adjusted EBITDA ratio of 5.9x, with total consolidated debt of $1.6 billion [22]. - The weighted-average interest rate on total consolidated debt was 3.68% as of December 31, 2024 [22]. Future Guidance - For the year ending December 31, 2025, LXP estimates net income attributable to common shareholders will range from $0.01 to $0.05 per diluted share, and Adjusted Company FFO is expected to be between $0.61 and $0.65 per diluted share [23].

Core Viewpoint - LXP Industrial Trust has announced its final 2024 dividend income allocations for both common and preferred shares, detailing the distributions and tax reporting requirements [1]. Common Shares - The total dividend per share for common shares is $0.130000, with specific allocations for ordinary dividends ($0.072340), qualified dividends ($0.000000), capital gain distributions ($0.054050), unrecaptured Section 1250 gain ($0.021230), and nondividend distributions ($0.003610) [2]. - The record and payable dates for the common shares are as follows: - December 29, 2023, payable on January 16, 2024 - March 28, 2024, payable on April 15, 2024 - June 28, 2024, payable on July 15, 2024 - September 30, 2024, payable on October 15, 2024 [2]. Preferred Shares - The total dividend per share for Series C Cumulative Convertible Preferred Stock is $0.812500, with allocations for ordinary dividends ($0.465030), capital gain distributions ($0.347470), and unrecaptured Section 1250 gain ($0.136500) [3]. - The record and payable dates for the preferred shares are as follows: - January 31, 2024, payable on February 15, 2024 - April 30, 2024, payable on May 15, 2024 - July 31, 2024, payable on August 15, 2024 - October 31, 2024, payable on November 15, 2024 [3]. Tax Reporting - 9.41% of the amounts for preferred shares are reported as Section 897 ordinary dividends attributable to dispositions of U.S. Real Property Interests [3]. - Qualified dividends and Section 199A dividends are included in the total ordinary dividends reported [4]. - Total capital gain distributions are from sales of assets that generated Section 1231 gains, with unrecaptured Section 1250 gain being a subset of the total capital gain distribution [5]. Company Overview - LXP Industrial Trust is a publicly traded REIT focused on Class A warehouse and distribution investments in target markets across the Sunbelt and Midwest, aiming to expand its portfolio through acquisitions and development projects [8].