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 ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ Quarterly Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the quarterly period ended March 31, 2024. or ☐ Transition Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the transition period from _________________ to ________________ Commission File Number 1-12386 LXP INDUSTRIAL TRUST (Exact name of registrant as specified in its charter) (State or ot ...

LXP Industrial Trust (NYSE:LXP) Q1 2024 Results Conference Call May 2, 2024 8:30 AM ET Company Participants Heather Gentry - IR Will Eglin - CEO Brendan Mullinix - CIO James Dudley - Executive Vice President Beth Boulerice - CFO Conference Call Participants Jon Petersen - Jefferies LLC Vince Tibone - Green Street Camille Bonnel - Bank of America Operator Good morning, my name is Dennis, and I will be your conference operator today. At this time, I would like to welcome everyone to the LXP Industrial Trust F ...

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 ...

INVESTOR PRESENTATION THIRD QUARTER 2023 LXPINDUSTRIAL TRUST Disclosure Industry and market estimates, data and other statistical information included in this presentation are generally based on independent industry publications, reports by market research firms or other published independent sources. Projected future rental revenues and expenses and forecasted tenant improvements and lease commissions based upon market conditions were determined through discussion with local real estate professionals, expe ...

Financial Data and Key Metrics Changes - Third quarter revenue was approximately $85 million, with property operating expenses of $15 million, primarily tenant reimbursement [6] - Adjusted company FFO for the quarter was $0.18 per diluted common share, totaling approximately $52 million [6] - Net debt to adjusted EBITDA at quarter end was 6.2 times, down from 7.1 times in the third quarter of 2022 [54] Business Line Data and Key Metrics Changes - The company leased 5.8 million square feet through the end of October, with a total of 1.9 million square feet leased in spec development at an average stabilized cash yield of 7.5% [56] - Same-store industrial NOI growth was 5% in the third quarter, with year-to-date same-store NOI growth at 4.5% [57][107] - Average annual escalations for industrial leases signed in 2023 were 3.5% [57] Market Data and Key Metrics Changes - Rents in target markets grew approximately 15% in the third quarter compared to the same period in 2022 [77] - The stabilized industrial portfolio was 99.2% leased at quarter end, slightly down due to a move-out in Houston [63] - The company anticipates cash-based rental increases of 20% to 30% from 3.7 million square feet of lease expirations in 2024 [63] Company Strategy and Development Direction - The company is focusing on build-to-suit opportunities, leveraging its strong developer relationships and land bank [61][118] - The company plans to utilize proceeds from office sales to reduce leverage and capitalize on new investment opportunities [55] - The company is reviewing refinancing options for upcoming debt maturities, anticipating increased interest expenses [108] Management's Comments on Operating Environment and Future Outlook - Management noted a moderate softening in tenant leasing demand across U.S. logistics markets, with decisions taking longer due to oversupply in certain areas [62] - The company remains optimistic about its leasing pipeline, with strong activity in smaller spaces despite challenges in the big box sector [102] - Management expects to continue executing strategic initiatives and is well-positioned for future growth [38] Other Important Information - The Board of Trustees authorized an annualized dividend increase of $0.02 per share, representing a 4% increase over the prior dividend [58] - The company completed the forward purchase of a newly constructed facility in Dallas for $15 million, with strong leasing interest [3] - The company has nearly completed its office sales, with remaining assets in Fort Mill, South Carolina, currently being marketed for sale [70] Q&A Session Summary Question: What is the outlook for leasing demand in the big box space? - Management acknowledged a slowdown in demand for larger box spaces but noted ongoing activity in their portfolio [10] Question: Can you provide an update on the leasing pipeline and tenant demand? - Management indicated that while there is activity, it is difficult to predict exact timelines for leasing due to varying tenant interest [15] Question: What are the expectations for rental increases on upcoming lease expirations? - Management expects strong mark-to-market renewals and cash-based rental increases of 20% to 30% based on current negotiations [63] Question: How is the company addressing the oversupply in the big box sector? - Management believes the oversupply will dissipate over time as fewer new starts put pressure on supply [103] Question: What is the company's strategy regarding build-to-suit opportunities? - Management is actively pursuing build-to-suit projects and sees increased activity in this area [118]