LXP Industrial Trust

Latest Results (07.10.2025):

LXP Industrial Trust reported its financial results for the third quarter of 2024, demonstrating stable revenues and growth in same-store Net Operating Income (NOI). Despite a decrease in net income and Adjusted Company Funds From Operations (FFO), the company announced a 3.8% increase in dividends, reflecting its commitment to returning value to shareholders.

Net Income Decline

For the quarter ended September 30, 2024, LXP Industrial Trust recorded a net income of $4.7 million, or $0.02 per diluted common share, compared to $11.0 million, or $0.04 per diluted share, in the same quarter of the previous year.

Adjusted Company FFO Decrease

The company generated Adjusted Company Funds From Operations available to all equityholders and unitholders of $46.7 million, or $0.16 per diluted common share, down from $51.9 million, or $0.18 per diluted share, for the quarter ended September 30, 2023.

Stable Revenues with NOI Growth

Total gross revenues slightly increased to $85.6 million for the quarter ended September 30, 2024, compared to $85.4 million for the same period in 2023. Additionally, same-store NOI grew by 5.4%, driven by significant rental increases from new and extended leases.

Dividend Increase

LXP Industrial Trust declared a 3.8% increase in its regular quarterly common share dividend to $0.135 per common share for the quarter ending December 31, 2024. This marks an annualized increase of $0.02 per common share, underscoring the company's strong commitment to its shareholders.

Leasing and Development Activities

The company successfully completed new leases and lease extensions totaling 0.7 million square feet, enhancing base and cash base rents by 38.3% and 22.5%, respectively. Additionally, LXP placed a 250,020 square foot speculative development facility in Columbus, Ohio into service and invested $27.5 million in development activities.