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Sep 30, 2021
Lexington Realty Q3 2021 Earnings Report
Reported third quarter 2021 results, highlighting the substantial completion of portfolio transformation to industrial REIT and an increased common share dividend.
Key Takeaways
Lexington Realty Trust reported third-quarter results with 95% of gross assets now industrial. The company generated Adjusted Company FFO of $53.6 million, or $0.19 per diluted share. They also announced an 11.6% increase in the quarterly common share dividend.
Substantially completed portfolio transformation to an industrial REIT with approximately 95% of gross assets now industrial.
Tenant demand and market fundamentals continue to be strong, evidenced by outstanding leasing results and expansion of the development pipeline.
Increased the dividend significantly, reflecting the quality of the transformed portfolio.
Committed to growing distributions to shareholders.
Lexington Realty
Lexington Realty
Forward Guidance
LXP estimates net income attributable to common shareholders for the year ended December 31, 2021, to be within $0.52 to $0.55 per diluted common share and increases its Adjusted Company FFO guidance range for the year ended December 31, 2021, to a revised range of $0.75 to $0.78 per diluted common share.