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 Viewpoint - LXP Industrial Trust has successfully sold two vacant development projects for a total of $175 million, reflecting a strong market position in Class A warehouse and distribution real estate investments [1][2]. Group 1: Transaction Details - The sale includes two properties located in Ocala, Florida, and Indianapolis, Indiana, totaling 2,138,640 square feet [1]. - The gross sale price represents a 20% premium, or $29 million, over the gross book value of the properties as of June 30, 2025 [2]. - LXP expects to receive net proceeds of approximately $151 million after accounting for minority partner distributions and transaction costs [2]. Group 2: Use of Proceeds - The net proceeds from the sale will be allocated for debt repayment and other general corporate purposes [2]. Group 3: 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 lower Midwest [3]. - The company aims to expand its portfolio through various strategies, including acquisitions, build-to-suit transactions, sale-leaseback transactions, and development projects [3].

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]

Core Insights - LXP Industrial Trust reported strong first quarter results for 2025, highlighting a leasing volume of 1.1 million square feet and a same-store NOI growth of 5.2% [3][4] - The company generated total gross revenues of $88.9 million, an increase from $86.3 million in the same quarter of 2024, driven by acquisitions, rent increases, and stabilized development projects [4] - LXP's net income attributable to common shareholders was $17.3 million, or $0.06 per diluted share, a significant recovery from a net loss of $(1.9) million, or $(0.01) per diluted share, in the prior year [5][46] - The company declared a regular quarterly common share dividend of $0.135 per share, paid on April 15, 2025 [7] Financial Performance - Total gross revenues for Q1 2025 were $88.9 million, up from $86.3 million in Q1 2024, primarily due to revenue from acquisitions and rent increases [4] - Net income attributable to common shareholders was $17.3 million, compared to a net loss of $(1.9) million in the same quarter of 2024 [5] - Adjusted Company FFO for Q1 2025 was $46.4 million, or $0.16 per diluted share, slightly down from $48.8 million, or $0.16 per diluted share, in Q1 2024 [6][49] Leasing and Occupancy - LXP achieved a leasing volume of 1.1 million square feet in Q1 2025, with a same-store NOI growth of 5.2% compared to the same period in 2024 [3][9] - The stabilized portfolio was 93.3% leased as of March 31, 2025, with a notable lease extension of 540,000 square feet that increased Base and Cash Base Rents by 52.5% and 58.9%, respectively [16][9] Asset Management and Transactions - The company disposed of a warehouse facility for gross proceeds of $35.0 million and another for $39.6 million, with capitalization rates of 6.9% and 4.5%, respectively [10][11] - LXP is focused on a 12-market investment strategy in the Sunbelt and Lower Midwest, which accounts for 85% of its gross assets [3] Debt and Guidance - LXP ended the quarter with a net debt to Adjusted EBITDA ratio of 5.9x and repaid $50.0 million of its $300.0 million term loan [17] - The company estimates net income attributable to common shareholders for the year ending December 31, 2025, will be in the range of $0.12 to $0.16 per diluted common share, reaffirming its expectation for Adjusted Company FFO to be between $0.61 and $0.65 per diluted common share [18][50]