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Mar 31, 2023
Lexington Realty Q1 2023 Earnings Report
LXP Industrial Trust reported results for the quarter ended March 31, 2023.
Key Takeaways
LXP Industrial Trust reported total gross revenues of $85.1 million and net income attributable to common shareholders of $9.5 million, or $0.03 per diluted share, for the quarter ended March 31, 2023. Adjusted Company FFO was $50.3 million, or $0.17 per diluted share.
Total gross revenues were $85.1 million, compared to $80.3 million for the quarter ended March 31, 2022.
Net income attributable to common shareholders was $9.5 million, or $0.03 per diluted share, compared to $9.0 million, or $0.03 per diluted share for the quarter ended March 31, 2022.
Adjusted Company FFO was $50.3 million, or $0.17 per diluted share, compared to $48.1 million, or $0.16 per diluted share for the quarter ended March 31, 2022.
LXP declared a regular quarterly common share/unit dividend/distribution of $0.125 per common share/unit.
Lexington Realty
Lexington Realty
Forward Guidance
LXP estimates that its net income attributable to common shareholders for the year ended December 31, 2023 will be within an expected range of $0.18 to $0.22 per diluted common share. LXP reaffirms that its estimated Adjusted Company FFO for the year ended December 31, 2023, will be within an expected range of $0.66 and $0.70 per diluted common share.