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Jun 30, 2022
Lexington Realty Q2 2022 Earnings Report
Reported strong second quarter results driven by high occupancy and positive leasing outcomes in the industrial portfolio.
Key Takeaways
LXP Industrial Trust reported strong second quarter results with the industrial portfolio performing well, featuring high occupancy and positive leasing outcomes. Industrial cash rents for extended leases increased by 19% on approximately half a million square feet. Industrial same store NOI grew 5.8% during the quarter.
Industrial portfolio continues to perform well with high occupancy.
Industrial cash rents for extended leases increased 19% on approximately half a million square feet of leasing volume.
Industrial same store NOI grew 5.8% during the quarter.
LXP's stabilized industrial portfolio was 99.3% leased as of June 30, 2022.
Lexington Realty
Lexington Realty
Forward Guidance
LXP estimates net income attributable to common shareholders for the year ended December 31, 2022, will be within an expected range of $0.37 to $0.41 per diluted common share. LXP is also reaffirming that its Adjusted Company FFO for the year ended December 31, 2022, will be within an expected range of $0.64 and $0.68 per diluted common share.