Real Estate Holdings - As of September 30, 2025, the company had equity ownership interests in approximately 112 consolidated real estate properties, totaling approximately 54.2 million square feet of rentable space, which were approximately 96.8% leased[116] - The company sold its interest in five facilities for $198.3 million, including two vacant development projects totaling 2,138,640 square feet for a gross aggregate price of $174.6 million[118] - The company acquired one warehouse facility in Atlanta, Georgia for $30.0 million, totaling 157,371 square feet with a weighted-average lease term of 3.9 years[119] Financial Performance - Cash flows from operations for the nine months ended September 30, 2025, were $146.8 million, an increase from $142.0 million for the same period in 2024, primarily due to increased rental revenue from acquired properties[124] - For the three months ended September 30, 2025, net income attributable to common shareholders increased by $29.9 million compared to the same period in 2024[138] - Net income attributable to common shareholders for Q3 2025 was $34.6 million, a significant increase from $4.7 million in Q3 2024[160] Revenue and Income - Rental revenue increased by $1.3 million for the three months ended September 30, 2025, driven by a $5.0 million increase from properties placed in service and acquisitions, partially offset by a $3.7 million decrease from property sales and vacancies[139] - Same-store net operating income (NOI) increased by 2.0% for the three months ended September 30, 2025, and by 4.0% for the nine months ended September 30, 2025, primarily due to an increase in cash base rents[151] - The company reported a total cash base rent of $63.157 million for the three months ended September 30, 2025, compared to $61.722 million for the same period in 2024[151] Dividends - Dividends paid to common and preferred shareholders were $123.2 million for the nine months ended September 30, 2025, compared to $118.6 million for the same period in 2024[130] - The company declared a quarterly dividend of $0.135 per common share for the three months ended September 30, 2025, an increase of $0.005 from the previous year[131] Debt and Financing - As of September 30, 2025, the company's secured debt was $50.9 million, down from $54.9 million at December 31, 2024[123] - The company has an unsecured credit agreement with a revolving credit facility of up to $600.0 million, with no borrowings as of September 30, 2025[135] - As of September 30, 2025, the company had $1.5 billion in aggregate principal consolidated fixed-rate debt, representing 98.8% of total indebtedness[165] Cash Flow and Investments - Net cash provided by investing activities totaled $201.3 million for the nine months ended September 30, 2025, compared to $64.4 million for the same period in 2024[125] - The company had consolidated development and redevelopment project costs of $37.9 million, with an expected additional cost of approximately $29.1 million for remaining project commitments[137] Operational Efficiency - The decrease in general and administrative expenses for the three months ended September 30, 2025, was $1.7 million, primarily due to severance expenses from the previous year's portfolio transformation[140] - The company had a historical same-store square footage leased of 96.9% as of September 30, 2025, down from 99.0% in 2024[151] Performance Metrics - Funds from Operations (FFO) is presented as a key performance measure, excluding GAAP historical cost depreciation and amortization of real estate[154] - FFO per common share (diluted) for Q3 2025 was $0.16, consistent with Q3 2024[160] - Funds from Operations (FFO) available to common shareholders for Q3 2025 was $45.0 million, compared to $43.5 million in Q3 2024, representing a growth of 3.5%[160] - Adjusted Company FFO available to all equityholders for Q3 2025 was $46.7 million, slightly down from $46.7 million in Q3 2024[160] Interest Rate and Risk Management - The company reported a weighted-average interest rate of 6.3% on variable-rate indebtedness for both Q3 2025 and Q3 2024[165] - The company’s variable-rate indebtedness not subject to interest rate swaps was $18.5 million as of September 30, 2025, down from $129.1 million in 2024[165] - The company may enter into derivative financial instruments to mitigate interest rate risk, as part of its risk management strategy[167]

Financial Data and Key Metrics Changes - The company reported adjusted company FFO for the third quarter at approximately $47 million, with guidance for 2025 adjusted company FFO tightened to a range of $0.63 to $0.64 per share, reflecting the impact of property sales and debt repayment [11][12] - The net debt to adjusted EBITDA ratio improved to 5.2 times, down from 5.8 times, following the sale of properties [5][12] - The company achieved a same store NOI growth of 4% year to date and 2% for the third quarter, with portfolio occupancy increasing to 96.8% from 94.1% in the previous quarter [13][14] Business Line Data and Key Metrics Changes - The sale of two vacant development projects for a gross sale price of $175 million resulted in a 20% premium to the gross book value, driving portfolio occupancy up by 370 basis points [5][6] - The company has successfully leased or sold 98% of its development program, contributing to having the youngest industrial portfolio in the public market [6][10] Market Data and Key Metrics Changes - The investment sales market remains healthy, with the company currently marketing approximately $115 million of assets for sale in non-target markets [7] - The target markets outperformed the broader market, with robust net absorption of approximately 33 million square feet in the company's 12 target markets during the third quarter [7][8] Company Strategy and Development Direction - The company continues to focus on a 12 market investment strategy in the Sun Belt and select lower Midwest states, which account for approximately 85% of gross assets [7] - The company is exploring opportunities for modest spec development next year if tenant demand remains strong, while prioritizing internal growth through contractual rent escalations and occupancy gains [21][22] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's position, highlighting the successful sale of development projects that addressed critical operating objectives and resulted in higher occupancy and lower leverage [9][19] - The company anticipates a strong 2026 and beyond, focusing on marking rents to market and capitalizing on lease-up opportunities [19] Other Important Information - The Board of Trustees authorized an annualized dividend increase of $0.02 per share, raising the annualized rate to $0.56 per share [9] - A 1-for-5 reverse stock split is scheduled to take effect on November 10, 2025, with trading on a post-split basis beginning on November 11, 2025 [18] Q&A Session Summary Question: Future Capital Deployment Focus - Management indicated a strong internal growth profile and a focus on build-to-suit opportunities, with modest spec development possible if tenant demand remains strong [21][22] Question: Non-Target Market Assets - The company is actively selling assets outside of the 12 target markets to create liquidity for reinvestment, viewing this portfolio as a source of liquidity [25] Question: Disposition Timeline and Cap Rates - Management expects to close on the $115 million of marketed assets by December, with anticipated cap rates in the low sixes [27] Question: Mark-to-Market Expectations - The company projects a 20% mark-to-market for 2026 lease expirations, with an average annual escalator of 2.9% across the portfolio [30][32] Question: Same Store Results and Move-Outs - The decrease in same store results was attributed to move-outs, with a positive impact from contractual rent escalators and renewals [45] Question: Leasing Activity Post Quarter-End - The company reported 1.1 million square feet of leasing post quarter-end, primarily from renewals, including a significant new lease in Indianapolis [64][68]

Portfolio Overview - LXP Industrial Trust has gross assets of $4.8 billion and owns 112 properties [7] - The stabilized portfolio is 96.8% leased [12, 17] - 48% of the tenancy is investment grade [9] - The portfolio's weighted average lease term (WALT) is 4.9 years [17] Financial Performance - The company generated Adjusted Company FFO of $0.16 per share in the third quarter [12] - Same-store NOI growth was 4% year-to-date and 2% in the quarter [12] - The company repaid $140 million of outstanding 6.75% Senior Notes due 2028 [12] - Net Debt to Adjusted EBITDA was reduced to 5.2x [12, 13] Growth Opportunities - Approximately 64% of the portfolio is expiring through 2030, with current mark-to-market on rents estimated to be approximately 17% [15, 64] - The average annual rental escalations are 2.9% [15, 60] - The company has 1.8 million square feet of first and second-generation space available for lease [15, 60] Strategic Initiatives - The company sold two vacant development projects totaling 2.1 million square feet for $175 million, representing a 20% premium over the gross book value [12] - The company acquired one property for $30 million at a cash capitalization rate of 6.5% [12] - The company announced a reverse stock split of common shares at a ratio of 1-for-5 [12]

Core Insights - 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 generated revenues of $86.9 million for the quarter ended September 2025, falling short of the Zacks Consensus Estimate by 1.83% but showing an increase from $85.57 million year-over-year [2] - LXP Industrial shares have increased by approximately 17.2% since the beginning of the year, aligning with the S&P 500's performance [3] Financial Performance - The FFO outlook for LXP Industrial is crucial for assessing future stock performance, with current consensus FFO expectations at $0.16 for the upcoming quarter and $0.63 for the current fiscal year [7] - The company has not exceeded consensus FFO estimates in the last four quarters [1] 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] - The performance of LXP Industrial may be influenced by the overall outlook for the industry [8]

Core Insights - LXP Industrial Trust reported strong third-quarter results, highlighted by the sale of two vacant development projects for $175 million, which is a 20% premium over the gross book value of the properties [4][13]. - The company achieved a net income attributable to common shareholders of $34.6 million, or $0.12 per diluted share, significantly up from $4.7 million, or $0.02 per diluted share, in the same quarter last year [6][54]. - Adjusted Company Funds From Operations (FFO) remained stable at $46.7 million, or $0.16 per diluted share, consistent with the previous year [7][54]. Financial Performance - Total gross revenues for the quarter ended September 30, 2025, were $86.9 million, up from $85.6 million in the same quarter of 2024, driven by stabilized development projects and rent increases [5][50]. - The company reported a Same-Store Net Operating Income (NOI) increase of 4.0% year-to-date and 2.0% for the quarter compared to the same periods in 2024 [8]. - The net debt to Adjusted EBITDA ratio improved to 5.2x, reflecting reduced leverage following the property sales [4][22]. Transaction Activity - LXP sold two vacant development projects totaling 2.1 million square feet for $175 million, resulting in net proceeds of approximately $151 million after transaction costs [13][22]. - The company acquired a warehouse facility for $30 million, maintaining a 100% lease rate at acquisition [12][22]. - Year-to-date property dispositions totaled $272.9 million at weighted-average capitalization rates of 6.3% and 5.1% [15]. Leasing Activity - The stabilized portfolio leased percentage increased to 96.8% by the end of the quarter [8][21]. - LXP executed 1.1 million square feet of new and extended leases, raising Cash Base Rents by 27.7% [21]. - The company extended 1.8 million square feet of leases year-to-date, increasing Base and Cash Base Rents by 30.8% and 30.1%, respectively [8][21]. Dividends - LXP declared a regular quarterly common share dividend of $0.14 per share for the quarter ending December 31, 2025, representing a 3.7% increase from the previous quarter [9][11]. - The company also declared a cash dividend of $0.8125 per share of Series C Cumulative Convertible Preferred Stock for the same quarter [10][11]. Future Guidance - LXP estimates net income attributable to common shareholders for the year ending December 31, 2025, will be in the range of $0.25 to $0.26 per diluted common share [27]. - The company tightened its estimated Adjusted Company FFO guidance for the year to a range of $0.63 to $0.64 per diluted common share [27]. Stock Split Announcement - A reverse stock split of LXP's common shares at a ratio of 1-for-5 is expected to take place on November 10, 2025, reducing the number of outstanding shares from approximately 295.8 million to about 59.2 million [23][24].

Core Insights - Albert Anthony is a Croatian-American business author and media contributor with a focus on real estate investment trusts (REITs) [1] - He has a background in IT analysis for Fortune 500 companies and experience in financial services with Charles Schwab [1] - Anthony is launching a book on REITs in 2025 and operates his own equities research firm remotely [1] Background and Experience - The author has over 1,000 followers on Seeking Alpha and writes for various financial platforms [1] - He has participated in numerous business and innovation conferences in the EU and the US [1] - Anthony is pursuing a CMSA certification from the Corporate Finance Institute in Vancouver [1] Media and Digital Presence - He is active in digital media, including a YouTube channel focused on REITs [1] - The author has appeared in regional media channels in Croatia and has had roles in over five productions [1] - Albert Anthony & Company is a sole proprietorship registered in Austin, Texas, focusing on general market commentary and research [1]

Core Insights - LXP Industrial Trust is a real estate investment trust focused on acquiring, owning, developing, and operating premium industrial real estate, particularly modern Class A warehouses and distribution centers in key U.S. logistics markets [1] Financial Performance - LXP Industrial is set to report its Q3 2025 earnings on October 30, with Wall Street analysts expecting an EPS of $0.06, a decrease from $0.16 in the prior-year period. Quarterly revenue is anticipated to reach $87.68 million, an increase from $85.57 million a year earlier [2] - The company reported Q2 2025 earnings with FFO of $0.16, meeting expectations, while revenues of $87.72 million exceeded the consensus of $86.85 million [7] Historical Investment Performance - If an investor had purchased LXP Industrial stock 10 years ago at approximately $8.78 per share, a $10,000 investment would have grown to $10,786 based on stock price appreciation alone, with dividends contributing an additional $6,799, leading to a total investment value of $17,585, representing a total return of 75.85% [3][4][5] Dividend Information - LXP Industrial's current dividend yield is 5.70%, and over the past 10 years, it has paid about $5.97 in dividends per share [4] Future Outlook - Analysts have a consensus rating of "Overweight" for LXP Industrial, with a price target of $11, indicating a potential upside of over 16% from the current stock price [7]

Core Points - LXP Industrial Trust announced a tender offer to purchase up to $150,000,000 of its 6.750% Notes due 2028, excluding accrued interest and related fees [1][4][8] - The total consideration for the Notes validly tendered before the Early Tender Deadline is calculated based on a fixed spread and includes an early tender premium of $30.00 per $1,000 [3][5] - The Offer will expire on October 30, 2025, unless extended or terminated earlier by the Company [4] Offer Details - The principal amount of the Notes outstanding is $300,000,000, with a Tender Cap of $150,000,000 [2] - The reference U.S. Treasury Security yield is 3.375%, with a fixed spread of 50 basis points [2] - Due to the Tender Cap being exceeded, the Company will accept approximately $140,000,000 of the Notes validly tendered, applying a proration rate of about 75.3% [8] Tender Process - Holders of Notes who tendered before the Early Tender Deadline will receive accrued interest along with the Total Consideration [6] - Withdrawal rights for the Notes expired on October 15, 2025, at 5:00 p.m. New York City time [7][9] - The settlement for the accepted Notes is expected to occur on October 20, 2025, subject to conditions being met [8]

Core Viewpoint - LXP Industrial Trust has announced early results of its tender offer to purchase up to $150 million of its 6.750% Notes due 2028, with a significant amount already tendered by the early deadline [1][4]. Tender Offer Details - The tender offer has a purchase cap of $150 million, excluding accrued interest and related fees [1]. - The offer will expire on October 30, 2025, unless extended or terminated earlier by the company [3]. - As of the early tender deadline on October 15, 2025, $186,042,000 of the Notes had been validly tendered [2][4]. Financial Considerations - The total consideration for the Notes accepted for purchase will include an early tender premium of $30.00 per $1,000 principal amount [5]. - Holders who tender their Notes after the early deadline will receive a lower consideration without the early tender premium [5]. - The total consideration will be determined on October 16, 2025, based on the fixed spread and yield to maturity of the reference U.S. Treasury Security [5][6]. Eligibility and Interest - Only holders who tendered their Notes by the early deadline are eligible for the total consideration [7]. - Accrued and unpaid interest will also be paid to holders whose Notes are accepted for purchase [7]. Subscription Status - The offer for the Notes has been fully subscribed as of the early tender deadline, and no additional Notes will be accepted after this date [9]. Company Overview - LXP Industrial Trust is a publicly traded REIT focused on Class A warehouse and distribution investments across 12 target markets in the Sunbelt and Midwest [14]. - The company aims to expand its portfolio through acquisitions, development projects, and various real estate transactions [14].

Core Points - LXP Industrial Trust will release its third quarter 2025 financial results on October 30, 2025 [1] - A conference call and webcast will be held on the same day at 8:30 a.m. Eastern Time to discuss the results [1] - Participants can access the call via a dedicated phone line or through a webcast link [1] Company Overview - LXP Industrial Trust is a publicly traded REIT focused on Class A warehouse and distribution investments in 12 target markets across the Sunbelt and Midwest [5] - The company aims to expand its portfolio through acquisitions, development projects, and build-to-suit and sale/leaseback transactions [5] - For more information, LXP provides a Quarterly Supplemental Information package and maintains a presence on social media [5] Contact Information - Investor or media inquiries can be directed to Heather Gentry, Executive Vice President of Investor Relations, at the provided phone number or email [6]