LXP Industrial TrustNYSE: LXP

WEST PALM BEACH, Fla., June 27, 2024 (GLOBE NEWSWIRE) -- LXP Industrial Trust (NYSE: LXP) (“LXP”), a real estate investment trust (REIT) focused on Class A warehouse and distribution real estate investments, today announced it will release its second quarter 2024 financial results the morning of Wednesday, July 31, 2024. LXP will host its conference call and webcast that same day at 8:30 a.m., Eastern Time to discuss these results. Participants may access the call and webcast by the following:

WEST PALM BEACH, Fla., June 17, 2024 (GLOBE NEWSWIRE) -- LXP Industrial Trust (“LXP”) (NYSE: LXP), a real estate investment trust (REIT) focused on single-tenant industrial real estate investments, today announced that it declared a regular common share dividend for the quarter ending June 30, 2024 of $0.13 per common share payable on or about July 15, 2024 to common shareholders of record as of June 28, 2024.

LXP Industrial Trust (NYSE:LXP) has announced that it will release its first quarter 2024 financial results on the morning of Thursday, May 2, 2024. A conference call and webcast will be held at 8:30 a.m. Eastern Time on the same day to discuss these results. Participants can access the call and webcast using the following information.

LXP Industrial (LXP) came out with quarterly funds from operations (FFO) of $0.17 per share, in line with the Zacks Consensus Estimate. This compares to FFO of $0.17 per share a year ago.

STAG Vs. LXP:  Which Is The Better Industrial REIT?

LXP Industrial (LXP) came out with quarterly funds from operations (FFO) of $0.18 per share, in line with the Zacks Consensus Estimate. This compares to FFO of $0.17 per share a year ago.

The industrial REIT sector has seen a steady increase in interest rates, impacting the spread between cap rates and the cost of capital. LXP's cap rate is 6.59%, close to the long-term sector average, but the current cost of capital is 7.44%, indicating a negative spread. Investment recommendation is a hold. An increase in re-leasing spreads and a sustained net debt to Adjusted EBITDA of under 6.0x would be positive developments.

LXP Industrial Trust has reorganized as an industrial REIT with low vacancy and properties in the Sunbelt and lower Midwest. The company's net debt consists mainly of fixed-rate long-term debt with a low weighted-average interest rate. Lease extensions, releasing of existing properties, and ongoing development projects will lead to growth in rental income.

LXP Industrial (LXP) came out with quarterly funds from operations (FFO) of $0.18 per share, beating the Zacks Consensus Estimate of $0.17 per share. This compares to FFO of $0.17 per share a year ago.