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Mar 31, 2025
Lexington Realty Q1 2025 Earnings Report
Reported results for the quarter ended March 31, 2025
Key Takeaways
LXP Industrial Trust reported increased total gross revenues and significant improvement in net income attributable to common shareholders for the first quarter of 2025 compared to the same period in 2024. Adjusted Company FFO remained stable per diluted share.
Total gross revenues increased to $88.9 million for Q1 2025, up from $86.3 million in Q1 2024.
Net income attributable to common shareholders was $17.3 million in Q1 2025, a significant improvement from a net loss of $(1.9) million in Q1 2024.
Adjusted Company FFO was $46.4 million, or $0.16 per diluted share, consistent with $0.16 per diluted share in Q1 2024.
The stabilized portfolio was 93.3% leased as of March 31, 2025.
Forward Guidance
LXP estimates net income attributable to common shareholders for the year ended December 31, 2025, will be between $0.12 and $0.16 per diluted common share. Adjusted Company FFO is reaffirmed to be within the range of $0.61 to $0.65 per diluted common share.
Positive Outlook
- Reaffirmed Adjusted Company FFO guidance.
- Focus on 12-market investment strategy in Sunbelt and Lower Midwest.
- Portfolio asset quality and tenant credit strength.
- Geographic footprint aligns with onshoring initiatives.
- Expectation of continued strong leasing outcomes.
Challenges Ahead
- Guidance is forward looking and excludes certain items.
- Based on current expectations, subject to change.
- Depends on successful consummation of future transactions.
- Impacted by potential changes in financial markets and interest rates.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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