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Mar 31, 2024
Lexington Realty Q1 2024 Earnings Report
Reported results for the quarter ended March 31, 2024.
Key Takeaways
LXP Industrial Trust reported a net loss attributable to common shareholders of $(1.9) million, or $(0.01) per diluted common share, and Adjusted Company FFO of $48.8 million, or $0.16 per diluted common share for the quarter ended March 31, 2024. The company also saw a 6.5% increase in Industrial Same-Store NOI compared to the same period in 2023.
Net Loss attributable to common shareholders was $(1.9) million, or $(0.01) per diluted common share.
Adjusted Company FFO was $48.8 million, or $0.16 per diluted common share.
Industrial Same-Store NOI increased by 6.5% compared to the same period in 2023.
Completed a 119,295 square foot lease extension amendment, raising industrial Base and Cash Base Rents by 28.0% and 27.9%, respectively.
Forward Guidance
LXP estimates net income attributable to common shareholders for the year ended December 31, 2024, will be within a range of $0.08 to $0.12 per diluted common share and is affirming its expectation that Adjusted Company FFO for the year ended December 31, 2024, will be within a range of $0.61 and $0.65 per diluted common share.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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