Core Insights - LXP Industrial Trust reported solid financial performance for Q2 2025, with significant growth in funds from operations (FFO) and same-store net operating income (NOI) [3][4][6] - The company achieved a milestone by leasing a 1.1 million square foot facility, expected to contribute approximately $3.7 million to FFO in 2025 [3] - LXP sold an industrial asset at a 4.3% cash capitalization rate and used part of the proceeds to repurchase $28 million of floating-rate Trust Preferred Securities at a 5% discount to par value, enhancing its financial position [3][4] Financial Results - Total gross revenues for Q2 2025 were $87.7 million, up from $85.8 million in Q2 2024, driven by acquisitions, rent increases, and stabilized development projects [4] - Net income attributable to common shareholders was $27.5 million, or $0.09 per diluted share, compared to $3.8 million, or $0.01 per diluted share in the same quarter last year [5] - Adjusted Company FFO for Q2 2025 was $47.3 million, or $0.16 per diluted share, slightly up from $46.9 million, or $0.16 per diluted share in Q2 2024 [6] Dividends - LXP declared a regular quarterly common share dividend of $0.135 per share for Q2 2025, paid on July 15, 2025 [7] - A cash dividend of $0.8125 per share of Series C Cumulative Convertible Preferred Stock was also declared, expected to be paid on August 15, 2025 [8] Leasing Activity - The company executed new leases totaling 1.1 million square feet and extended leases for 1.3 million square feet, with significant increases in Base and Cash Base Rents of 41.5% and 46.2%, respectively [15][16] - As of June 30, 2025, LXP's stabilized portfolio was 94.1% leased, and 98.4% leased excluding first-generation space available for lease [16] Balance Sheet and Debt Management - LXP ended the quarter with a net debt to Adjusted EBITDA ratio of 5.8x and total consolidated debt of $1.5 billion, with a weighted-average interest rate of 3.9% [17][18] - The company repurchased $28.1 million of Trust Preferred Securities at a 5% discount to par value, further reducing leverage [17] 2025 Earnings Guidance - LXP estimates net income attributable to common shareholders for the year ending December 31, 2025, to be in the range of $0.13 to $0.15 per diluted common share [19] - The company tightened its estimated Adjusted Company FFO for the year to a range of $0.62 to $0.64 per diluted common share [19]

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” ...