Please access the website or call the conference center at least fifteen minutes prior to the start of the call to download and install any necessary computer audio software and/or register for the call. Conference Call: (888) 660-6082 or (929) 201-6604 (International) Conference ID: 1576583 Webcast: https://events.q4inc.com/attendee/851567747 or visit: https://ir.lxp.com/events-and-presentations/events/default.aspx to access webcast link LXP Industrial Trust (NYSE: LXP) is a publicly traded real estate inv ...

WEST PALM BEACH, Fla., June 17, 2024 (GLOBE NEWSWIRE) -- LXP Industrial Trust ("LXP") (NYSE: LXP), a real estate investment trust (REIT) focused on single-tenant industrial real estate investments, today announced that it declared a regular common share dividend for the quarter ending June 30, 2024 of $0.13 per common share payable on or about July 15, 2024 to common shareholders of record as of June 28, 2024. LXP also declared a cash dividend of $0.8125 per share of Series C Cumulative Convertible Preferre ...

WEST PALM BEACH, Fla., June 17, 2024 (GLOBE NEWSWIRE) -- LXP Industrial Trust ("LXP") (NYSE: LXP), a real estate investment trust (REIT) focused on single-tenant industrial real estate investments, today announced that it declared a regular common share dividend for the quarter ending June 30, 2024 of $0.13 per common share payable on or about July 15, 2024 to common shareholders of record as of June 28, 2024. LXP also declared a cash dividend of $0.8125 per share of Series C Cumulative Convertible Preferre ...

WEST PALM BEACH, Fla., May 30, 2024 (GLOBE NEWSWIRE) -- LXP Industrial Trust (NYSE: LXP) ("LXP"), a real estate investment trust (REIT) focused on single-tenant industrial real estate investments, today announced that Beth Boulerice will step down from her roles as Chief Financial Officer and Treasurer, effective March 1, 2025. Following such date, she will continue to serve as an Executive Vice President, advising the Chief Executive Officer and working with the Corporate and Accounting departments. LXP al ...

WEST PALM BEACH, Fla., May 30, 2024 (GLOBE NEWSWIRE) -- LXP Industrial Trust (NYSE: LXP) ("LXP"), a real estate investment trust (REIT) focused on single-tenant industrial real estate investments, today announced that Beth Boulerice will step down from her roles as Chief Financial Officer and Treasurer, effective March 1, 2025. Following such date, she will continue to serve as an Executive Vice President, advising the Chief Executive Officer and working with the Corporate and Accounting departments. LXP al ...

LXP INDUSTRIAL TRUST TRADED: NYSE: LXP 515 N FLAGLER DR, SUITE 408 WEST PALM BEACH, FL 33401 FOR IMMEDIATE RELEASE LXP INDUSTRIAL TRUST REPORTS FIRST QUARTER 2024 RESULTS West Palm Beach, FL - May 2, 2024 - LXP Industrial Trust ("LXP") (NYSE:LXP), a real estate investment trust focused on single-tenant warehouse/distribution real estate investments, today announced results for the quarter ended March 31, 2024. First Quarter 2024 Highlights Subsequent Events • Completed 1.6 million square feet of lease exten ...

PART I. — FINANCIAL INFORMATION [Financial Statements (Unaudited)](index=3&type=section&id=ITEM%201.%20Financial%20Statements%20%28Unaudited%29) The unaudited Q1 2024 financial statements report a net loss of $0.56 million, a shift from prior-year net income, with total assets at $4.16 billion [Condensed Consolidated Balance Sheets](index=3&type=section&id=Condensed%20Consolidated%20Balance%20Sheets) As of March 31, 2024, total assets slightly decreased to $4.16 billion, total liabilities marginally increased to $1.94 billion, and total equity decreased to $2.22 billion Condensed Consolidated Balance Sheet Summary (in thousands) | Account | March 31, 2024 | December 31, 2023 | | :--- | :--- | :--- | | **Total Assets** | **$4,156,368** | **$4,192,775** | | Real estate, net | $3,560,590 | $3,584,153 | | Cash and cash equivalents | $163,213 | $199,247 | | **Total Liabilities** | **$1,935,854** | **$1,927,318** | | Senior notes payable, net | $1,286,711 | $1,286,145 | | **Total Equity** | **$2,220,514** | **$2,265,457** | [Condensed Consolidated Statements of Operations](index=5&type=section&id=Condensed%20Consolidated%20Statements%20of%20Operations) The company reported a net loss attributable to common shareholders of $1.9 million for Q1 2024, a decline from prior-year net income due to the absence of property sale gains and higher interest expenses Statement of Operations Highlights (in thousands, except per share data) | Metric | Q1 2024 | Q1 2023 | | :--- | :--- | :--- | | Total gross revenues | $86,251 | $85,075 | | Gains on sales of properties | $0 | $7,879 | | Interest and amortization expense | $(16,984) | $(11,393) | | Net income (loss) | $(555) | $11,315 | | Net income (loss) attributable to common shareholders | $(1,931) | $9,522 | | Net income (loss) per common share - diluted | $(0.01) | $0.03 | [Condensed Consolidated Statements of Comprehensive Income (Loss)](index=6&type=section&id=Condensed%20Consolidated%20Statements%20of%20Comprehensive%20Income%20%28Loss%29) The company recorded a comprehensive loss of $1.6 million for Q1 2024, primarily due to the net loss and an other comprehensive loss from interest rate swaps Comprehensive Income (Loss) Summary (in thousands) | Item | Q1 2024 | Q1 2023 | | :--- | :--- | :--- | | Net income (loss) | $(555) | $11,315 | | Other comprehensive loss | $(1,060) | $(3,520) | | **Comprehensive income (loss)** | **$(1,615)** | **$7,795** | [Condensed Consolidated Statements of Changes in Equity](index=7&type=section&id=Condensed%20Consolidated%20Statements%20of%20Changes%20in%20Equity) Total equity decreased to $2.22 billion as of March 31, 2024, driven by a net loss of $0.6 million and $39.6 million in common share dividends - Key changes in equity for Q1 2024 included a net loss of **$0.56 million**, dividend payments of **$39.6 million**, and an other comprehensive loss of **$1.1 million**, contributing to the overall decrease in total equity[19](index=19&type=chunk) [Condensed Consolidated Statements of Cash Flows](index=8&type=section&id=Condensed%20Consolidated%20Statements%20of%20Cash%20Flows) Q1 2024 saw $38.9 million in operating cash flow, $27.7 million used in investing, and $47.2 million used in financing, resulting in a $36.0 million net decrease in cash Cash Flow Summary (in thousands) | Cash Flow Activity | Q1 2024 | Q1 2023 | | :--- | :--- | :--- | | Net cash provided by operating activities | $38,916 | $37,546 | | Net cash used in investing activities | $(27,696) | $(5,529) | | Net cash used in financing activities | $(47,248) | $(43,480) | | **Change in cash, cash equivalents and restricted cash** | **$(36,028)** | **$(11,463)** | [Notes to Condensed Consolidated Financial Statements](index=9&type=section&id=Notes%20to%20Condensed%20Consolidated%20Financial%20Statements) The notes detail the company's REIT focus on 118 industrial properties, real estate investments, debt structure, leasing activities, and compensation plans - As of March 31, 2024, the company owned interests in approximately **118 consolidated real estate properties**, primarily single-tenant industrial facilities, located in 18 states[23](index=23&type=chunk) - In Q1 2024, the company placed three warehouse/distribution facilities in service, totaling approximately **2.6 million square feet**; ongoing development projects have an aggregate estimated cost of **$215.0 million**[39](index=39&type=chunk)[41](index=41&type=chunk) - The company has an unsecured credit agreement consisting of a **$600 million revolving credit facility** (undrawn as of March 31, 2024) and a **$300 million term loan**; the term loan's variable rate is swapped to a fixed rate of **2.722%** until January 2025[61](index=61&type=chunk)[62](index=62&type=chunk) - Future fixed rental receipts for operating and sales-type leases as of March 31, 2024, total approximately **$1.67 billion** and **$760 million**, respectively[83](index=83&type=chunk) [Management's Discussion and Analysis of Financial Condition and Results of Operations](index=27&type=section&id=ITEM%202.%20Management%27s%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management discusses the 95.3% leased portfolio, noting a $11.5 million net income decrease due to property sale gains and higher interest, while same-store NOI grew 6.4% and FFO per share slightly declined - As of March 31, 2024, the company's portfolio of **118 properties**, totaling **57.3 million square feet**, was **95.3% leased**[123](index=123&type=chunk) - The decrease in net income was primarily due to a **$7.9 million decrease in gains on property sales**, a **$5.6 million increase in interest and amortization expense**, and a **$4.9 million decrease in equity earnings** from non-consolidated entities compared to the prior year[145](index=145&type=chunk)[149](index=149&type=chunk)[150](index=150&type=chunk) - Same-store Net Operating Income (NOI) increased by **6.4%** for Q1 2024 compared to Q1 2023, driven primarily by an increase in cash base rents[152](index=152&type=chunk) FFO and Adjusted Company FFO per Share | Metric (per share) | Q1 2024 | Q1 2023 | | :--- | :--- | :--- | | FFO - Diluted | $0.16 | $0.17 | | Adjusted Company FFO - Diluted | $0.16 | $0.17 | [Quantitative and Qualitative Disclosures About Market Risk](index=36&type=section&id=ITEM%203.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) The company's primary market risk is interest rate fluctuations on its $129.1 million unhedged variable-rate debt, mitigated by fixed-rate debt and interest rate swaps - At March 31, 2024, consolidated variable-rate indebtedness not subject to interest rate swaps was **$129.1 million**, representing **7.2% of total consolidated debt**[167](index=167&type=chunk) - A **100 basis point increase** in the weighted-average interest rate would have increased interest expense by approximately **$0.3 million** for the three months ended March 31, 2024[167](index=167&type=chunk) - The company utilizes interest rate swaps to manage risk on its variable-rate debt, with **four such agreements** in place as of the quarter's end[169](index=169&type=chunk) [Controls and Procedures](index=36&type=section&id=ITEM%204.%20Controls%20and%20Procedures) Management concluded that disclosure controls and procedures were effective as of March 31, 2024, with no material changes to internal control over financial reporting - Management concluded that the company's disclosure controls and procedures were **effective** as of March 31, 2024[171](index=171&type=chunk) - No changes in internal control over financial reporting occurred during the quarter that have materially affected, or are reasonably likely to materially affect, these controls[172](index=172&type=chunk) PART II — OTHER INFORMATION [Legal Proceedings](index=37&type=section&id=ITEM%201.%20Legal%20Proceedings) The company is involved in ordinary course legal proceedings, which management does not expect to materially affect financial condition or operations - The company is involved in legal proceedings arising in the ordinary course of business, but management does not expect them to have a material adverse effect[174](index=174&type=chunk) [Risk Factors](index=37&type=section&id=ITEM%201A.%20Risk%20Factors) No material changes to previously disclosed risk factors were reported - No material changes in risk factors were reported compared to those disclosed in the Annual Report[175](index=175&type=chunk) [Unregistered Sales of Equity Securities and Use of Proceeds](index=37&type=section&id=ITEM%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) The company did not repurchase common shares in Q1 2024, with 6,874,241 shares remaining available under the existing plan Share Repurchase Activity - Q1 2024 | Period | Total Number of Shares Purchased | Maximum Number of Shares That May Yet Be Purchased | | :--- | :--- | :--- | | January 2024 | 0 | 6,874,241 | | February 2024 | 0 | 6,874,241 | | March 2024 | 0 | 6,874,241 | [Defaults Upon Senior Securities](index=37&type=section&id=ITEM%203.%20Defaults%20Upon%20Senior%20Securities) This item is not applicable for the reporting period - Not applicable[177](index=177&type=chunk) [Mine Safety Disclosures](index=37&type=section&id=ITEM%204.%20Mine%20Safety%20Disclosures) This item is not applicable for the reporting period - Not applicable[178](index=178&type=chunk) [Other Information](index=37&type=section&id=ITEM%205.%20Other%20Information) No trustee or officer adopted or terminated a Rule 10b5-1 trading arrangement during Q1 2024 - No officer or trustee adopted or terminated a Rule 10b5-1 trading arrangement during the quarter[179](index=179&type=chunk) [Exhibits](index=38&type=section&id=ITEM%206.%20Exhibits) This section lists all exhibits filed with the Form 10-Q, including corporate governance documents, debt agreements, and required CEO and CFO certifications - The report includes certifications from the CEO and CFO pursuant to Section 302 and Section 906 of the Sarbanes-Oxley Act of 2002[182](index=182&type=chunk)

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2023 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorporation of organization) Maryland 13-3717318 (I.R.S. Employer Identification No.) One Penn Plaza, Sui ...

17505 LXPINDUSTRIAL TRUST For information on non-GAAP measures, please see the definitions at the end of the presentation. See LXP's corresponding supplemental disclosure package for a reconciliation of all non-GAAP financial measures to the most directly comparable GAAP measure. 2 77% Top 25 Markets3 LXP INDUSTRIAL TRUST Fourth Quarter 2023 Industry and market estimates, data and other statistical information included in this presentation are generally based on independent industry publications, reports by ...

LXP Industrial Trust (NYSE:LXP) Q4 2023 Earnings Conference Call February 15, 2024 8:30 AM ET Company Participants Heather Gentry - Investor Relations Will Eglin - Chairman and CEO Beth Boulerice - Chief Financial Officer Brendan Mullinix - Chief Investment Officer James Dudley - Executive Vice President Conference Call Participants Todd Thomas - KeyBanc Capital Markets Camille Bonnel - Bank of America Jim Kammert - Evercore Mitch Germain - JMP Securities Jessica Zheng - Green Street Operator Thank you for ...