LXP
LXP Industrial Trust50.00
+0.02+0.04%
Dec 16, 4:00:02 PM EST
Earnings Call Transcripts
This Quarter (Q1 '26)
No earnings call transcript available yet
Last Quarter (Q4 '25)
FY Q4 '25
Phoenix dev prospects, easing concessions.
Q&A fleshed out the Phoenix spec project, highlighting prospect interest for its size amid zero competing supply and 5M sf runway on the 315-acre site. Management pinned the slight full-year same-store NOI miss on minor expense leakage, while concessions should recede as vacancy flattens. Fixed-rate renewals dragged 2026 spreads to modest levels, but those hurdles are cleared. Vacancies see tours and RFPs, promising mid-30s markups if closed; build-to-suits remain in play via land bank edge. Non-target sales (~$100M assets) negotiate actively, prioritizing development over buybacks. Q&A reaffirmed improving fundamentals.
Key Stats
Market Cap
2.96BP/E (TTM)
26.32Basic EPS (TTM)
1.90Dividend Yield
0.05%Recent Filings
10-K
FY2025 results
LXP Industrial Trust ended FY2025 with its stabilized portfolio at 97.1% leased across 52.7 million square feet, up from prior occupancy levels after leasing 4.9 million square feet at 14.6% higher cash rents (derived). Same-store NOI rose 2.9% y/y to $242.9M despite slight occupancy dip to 97.3%, fueled by rent bumps while expenses ticked up. Q4 saw two vacant developments sold for $174.6M of $389.1M total dispositions, recycling capital into a $30M Atlanta acquisition and deleveraging—total debt fell to $1.4B with $600M revolver capacity. Share repurchases trimmed 81,611 shares; cash built to $170M. Tenant defaults risk tenant concentration.
8-K
LXP Q4 FFO steady, debt down
LXP Industrial Trust posted Q4 net income of $27.1M ($0.46/share) and steady Adjusted Company FFO of $0.79/share, while leasing 2.1M sq ft at 27.4% base rent hikes excluding fixed renewals. Sold $116.2M in non-target warehouses, repaid $140M high-coupon notes, cut net debt to 4.9x EBITDA. Portfolio hit 97.1% leased. 2026 FFO guides $3.22-$3.37/share.
8-K
LXP refinances $850M credit facilities
LXP Industrial Trust amended its credit agreement on January 13, 2026, replacing prior facilities with a $600M unsecured revolver maturing January 31, 2030 (extendable to 2031) and $250M term loan maturing January 31, 2029 (extendable to 2031). SOFR spreads tightened to 77.5bps on the revolver and 85bps on the term loan based on current ratings; proceeds refinance the old term loan while revolver supports working capital and investments. Standard covenants apply. Debt matures far out.
8-K
LXP completes 1-for-5 reverse split
LXP Industrial Trust completed a 1-for-5 reverse share split effective 5:00 p.m. ET November 10, 2025, slashing outstanding common shares from ~296 million to ~59.2 million. Ownership percentages hold steady, bar fractional cash-outs. Reverse split adjusted equity plan shares to 1.8 million and Series C preferred conversion rate to 0.48678 shares per preferred; quarterly dividend rises to $0.70 per post-split share.
10-Q
Q3 FY2025 results
LXP Industrial Trust posted Q3 revenue up 1.6% y/y to $86.9M on steady rental growth, yet Q3 diluted EPS leaped from $0.02 to $0.12 thanks to $46.2M gain on real estate sales—five properties fetched $198.3M. YTD revenue climbed 2.3% to $263.5M with EPS at $0.27, fueled by leasing and acquisitions like a $30M Atlanta warehouse, while same-store NOI rose 2.0% q/q. Cash swelled to $229.7M on $146.8M operating cash flow; debt dipped to $1.49B after $50M term loan payback and trust preferred repurchases, with $600M revolver untapped. Sales recycled capital smartly. Tenant defaults pose vacancy risks.
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