Group 1 - The article discusses the volatility in the market, highlighting that even traditionally 'safe stocks' like Apple (AAPL) have shown instability due to current tariff environments [2] - The focus is on income-producing asset classes that provide sustainable portfolio income, diversification, and inflation hedging [1] - The service offered by iREIT+HOYA Capital is aimed at investors looking for income-focused portfolios [1] Group 2 - The article emphasizes the importance of defensive stocks for medium- to long-term investment horizons [2] - It mentions that past performance is not indicative of future results, suggesting a cautious approach to investment decisions [5] - The article does not provide specific investment advice, encouraging readers to conduct their own due diligence [4]

WEST PALM BEACH, Fla., May 21, 2025 (GLOBE NEWSWIRE) -- LXP Industrial Trust (“LXP”) (NYSE: LXP), a real estate investment trust (REIT) focused on Class A warehouse and distribution investments, today announced that it executed a lease for its approximately 1.1 million square foot industrial facility in the Greenville/Spartanburg, South Carolina market. The lease to a U.S. subsidiary of a global logistics company commences on June 1, 2025, for a two-year term, with two five-year renewal options, and an init ...

LXP Industrial Trust (NYSE:LXP) Q1 2025 Earnings Conference Call May 1, 2025 8:30 AM ET Company Participants Heather Gentry - Investor Relations Will Eglin - Chief Executive Officer Brendan Mullinix - Chief Investment Officer James Dudley - Executive Vice President Nathan Brunner - CFO Conference Call Participants James Kammert - Evercore John Petersen - Jefferies James Kammert - Evercore ISI Operator Good morning. My name is Aaron, and I will be your conference operator for today. At this time, I would lik ...

Financial Performance - Total gross revenues for Q1 2025 were $88.9 million, up from $86.3 million in Q1 2024, representing a growth of 3.0%[5] - Net income attributable to common shareholders was $17.3 million, or $0.06 per diluted share, compared to a net loss of $(1.9) million, or $(0.01) per diluted share in Q1 2024[7] - Adjusted Company Funds From Operations (FFO) for Q1 2025 were $46.4 million, or $0.16 per diluted share, compared to $48.8 million, or $0.16 per diluted share in Q1 2024[8] - LXP's 2025 earnings guidance estimates net income attributable to common shareholders to be in the range of $0.12 to $0.16 per diluted share[18] - Net income attributable to common shareholders for Q1 2025 was $17,279,000, compared to a loss of $1,931,000 in Q1 2024, resulting in a basic and diluted earnings per share of $0.06[45] - Funds from operations (FFO) available to common shareholders for Q1 2025 was $44,363,000, down from $47,141,000 in Q1 2024, with diluted FFO per share at $0.16, unchanged from the previous year[47] Operational Metrics - Same-store Net Operating Income (NOI) increased by 5.2% compared to the same period in 2024[6] - The stabilized portfolio was 93.3% leased as of March 31, 2025, with 99.5% leased excluding first-generation space[16] - Same-Store NOI is used to highlight operating trends such as occupancy levels and rental rates, excluding changes from acquired or disposed properties[37] Real Estate Transactions - A 540,000 square foot lease extension was completed, increasing Base and Cash Base Rents by 52.5% and 58.9%, respectively[6] - LXP disposed of one warehouse facility for gross proceeds of $35.0 million and another for $39.6 million[6][12] - LXP reported a gain on the sale of real estate amounting to $24.635 million in Q1 2025[41] - The company reported a gain on the sale of real estate of $(24,635,000) in Q1 2025, with no such gain reported in Q1 2024[47] Financial Position - Cash and cash equivalents decreased to $70.935 million as of March 31, 2025, down from $101.836 million at the end of 2024[43] - Real estate, net value as of March 31, 2025, was $3.479 billion, a decrease from $3.536 billion at the end of 2024[43] - Total liabilities decreased to $1.663 billion as of March 31, 2025, from $1.723 billion at the end of 2024[43] - The company repaid $50.0 million of its $300.0 million term loan, with total consolidated debt at $1.5 billion[17] Shareholder Information - The weighted-average common shares outstanding increased to 291.706 million in Q1 2025 from 291.288 million in Q1 2024[41] - The weighted-average number of common shares outstanding for basic FFO was 291,706,064 in Q1 2025, compared to 291,288,383 in Q1 2024[47] - The company allocated $1,572,000 for preferred dividends in both Q1 2025 and Q1 2024[47] Future Projections - The estimated adjusted company FFO per diluted common share for the twelve months ending December 31, 2025, is projected to be between $0.61 and $0.65[49] - The company expects the impact of capital transactions to be $(0.19) per diluted common share for the year ending December 31, 2025[49] Depreciation and Amortization - Depreciation and amortization for real estate increased to $48,822,000 in Q1 2025 from $46,208,000 in Q1 2024[47] - The allowance for credit loss was reported as $0 in Q1 2025, compared to a loss of $(5,000) in Q1 2024[47]

Real Estate Portfolio - As of March 31, 2025, the company had equity ownership interests in approximately 118 consolidated real estate properties, totaling approximately 57.3 million square feet of rentable space, with a lease rate of approximately 93.3%[106]. - The company entered into lease extensions encompassing 1.1 million square feet, with an average fixed rent increase from $6.37 to $7.85 per square foot[109]. - Same-store square footage leased was 99.2% as of March 31, 2025, compared to 98.9% in 2024[137]. Financial Performance - Cash flows from operations for the three months ended March 31, 2025, were $39.0 million, a slight increase from $38.9 million in the same period in 2024, primarily due to increased rental revenue[116]. - Dividends paid to common and preferred shareholders were $41.0 million for the three months ended March 31, 2025, compared to $39.5 million in the same period in 2024[122]. - Net income attributable to common shareholders for the three months ended March 31, 2025, was $17.279 million, compared to a net loss of $1.931 million in 2024[146]. Revenue and Expenses - The increase in rental revenue of $2.7 million was primarily due to properties placed in service and acquisitions, offset by a decrease of $5.7 million due to property sales and vacancies[131]. - Same-store net operating income (NOI) increased by 5.2% for the three months ended March 31, 2025, compared to the same period in 2024, reaching $63.586 million, driven by an increase in cash base rents[137]. - Total cash base rent for the three months ended March 31, 2025, was $64.080 million, up from $60.992 million in 2024[137]. Debt Management - The company repaid $50.0 million of its $300.0 million term loan, resulting in a loss on debt satisfaction of $0.4 million[112][124]. - The company had secured debt of $53.6 million as of March 31, 2025, down from $54.9 million at the end of 2024[115]. - The company's aggregate principal variable-rate indebtedness not subject to interest rate swaps was $46.6 million as of March 31, 2025, representing 3.0% of total indebtedness[150]. - The weighted-average interest rate on variable-rate indebtedness was 6.3% for the three months ended March 31, 2025[150]. - The fair value of the company's fixed-rate indebtedness was estimated at $1.4 billion as of March 31, 2025[151]. Other Financial Activities - The company disposed of one facility for a gross sale price of $35.0 million in a non-target market[111]. - The company did not sell any shares under its At-The-Market offering program during the three months ended March 31, 2025[119]. - Interest and amortization expense decreased by $0.7 million, primarily due to a $2.2 million decrease in interest expense related to the 2024 Senior Notes that were repaid in full[134]. - The company expects to incur approximately $41.0 million in additional costs for its consolidated development project commitments[129]. - The company guaranteed obligations for certain non-consolidated entities with respect to $432.3 million of non-recourse debt[147].

Financial Data and Key Metrics Changes - Adjusted company FFO for Q1 2025 was $0.16 per diluted common share, totaling approximately $46 million, consistent with expectations [13] - Same store NOI growth was 5.2% during the quarter, with the same store portfolio 99.2% leased at quarter end [13] - The company maintains its 2025 same store NOI growth range of 3% to 4% and adjusted company FFO range of $0.61 to $0.65 per diluted common share [13] Business Line Data and Key Metrics Changes - The company leased approximately 1,100,000 square feet in Q1 2025, including two lease extensions with an average annual escalator of 3.6% [14] - Significant lease renewals included a five-year renewal in Phoenix with a 59% cash rental increase and a two-year extension in Atlanta with 4% escalators [14] Market Data and Key Metrics Changes - US net absorption was 23 million square feet in Q1 2025, with 19 million square feet in the company's 12 target markets [8] - The construction pipeline in the 12 target markets is approximately 87 million square feet, down nearly 75% from the 2022 peak of 330 million square feet [8] Company Strategy and Development Direction - The company focuses on increasing occupancy, enhancing returns, and executing a 12-market investment strategy in the Sunbelt and Lower Midwest [7] - The investment strategy is concentrated in markets with favorable demographics, employment, and population growth exceeding the national average [10] - The company has opportunistically sold two industrial assets for approximately $75 million at an average cash capitalization rate of 4.1% [11] Management's Comments on Operating Environment and Future Outlook - Management remains cautious in the near term due to trade policy uncertainties affecting tenant decisions, but leasing outcomes have been favorable [9] - The company believes its asset quality, tenant credit strength, and portfolio footprint align with onshoring initiatives, positioning it well for future growth [19] Other Important Information - The company repaid $50 million of the unswapped portion of a $300 million term loan, with a net debt to adjusted EBITDA ratio of 5.9 times at quarter end [16] - Approximately 47% of the company's ABR comes from tenants with investment-grade rated parent companies, indicating high credit quality [17] Q&A Session Summary Question: Known move outs and headwinds for future expirations - Management indicated it is too early to tell about known move outs for 2026 and 2027, but they are optimistic about tenant renewals due to high-quality properties [21][22] Question: Current yields and rents for large boxes - There has been slight markdown in market rents, but overall, face rates have remained stable with increased tenant improvements and concessions [24][26] Question: Future disposition plans - The company is currently on pause regarding disposition activity due to market uncertainty but has a long-term objective to concentrate on the 12 target markets [27][28] Question: Impact of redevelopment on guidance - The redevelopment project was anticipated and excluded from same store NOI growth guidance, with no impact on Q1 results [32][33] Question: Expected yield following redevelopment - The expected yield on the redevelopment is projected to be in the mid-teens, with significant incremental rent anticipated [36] Question: Market excitement for leasing spreads - Management expressed optimism about the Sunbelt markets, particularly in Dallas and Phoenix, for potential mark-to-market opportunities [41] Question: Demand from larger e-commerce players - There is increased activity from major retailers, including Amazon, which could positively impact leasing for the company's large boxes [46]

LXP Industrial Trust (LXP) Q1 2025 Earnings Call May 01, 2025 08:30 AM ET Speaker0 Good morning. My name is Aaron, and I will be your conference operator for today. At this time, I would like to welcome everyone to the LXP Industrial Trust First Quarter twenty twenty five Earnings Call and Webcast. All lines have been placed on mute to prevent any background noise. And after the speakers' remarks, there will be a question and answer session. With that, I'm pleased to turn our call over to Heather Gentry, Ex ...

Company Performance - LXP Industrial reported quarterly funds from operations (FFO) of $0.16 per share, matching the Zacks Consensus Estimate and remaining unchanged from the previous year [1] - The company posted revenues of $88.86 million for the quarter ended March 2025, exceeding the Zacks Consensus Estimate by 4.14% and up from $86.25 million a year ago [2] - Over the last four quarters, LXP Industrial has not surpassed consensus FFO estimates, but it has topped revenue estimates three times [2][1] Stock Outlook - The immediate price movement of LXP Industrial's stock will largely depend on management's commentary during the earnings call and future FFO expectations [3][4] - LXP Industrial shares have declined approximately 2.8% since the beginning of the year, while the S&P 500 has decreased by 5.3% [3] - The current consensus FFO estimate for the upcoming quarter is $0.16 on revenues of $85.95 million, and for the current fiscal year, it is $0.63 on revenues of $345.85 million [7] Industry Context - The REIT and Equity Trust - Residential industry, to which LXP Industrial belongs, is currently ranked in the bottom 42% of over 250 Zacks industries, indicating potential challenges ahead [8] - Empirical research suggests a strong correlation between near-term stock movements and trends in estimate revisions, which can impact LXP Industrial's performance [5][6]

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” ...