Loading...
•
Sep 30, 2022
Lexington Realty Q3 2022 Earnings Report
Reported third quarter results with increased dividend and portfolio gains.
Key Takeaways
LXP Industrial Trust reported strong third quarter results, driven by gains from asset sales, increased rents, and strategic capital investments. The Board of Trustees raised the quarterly dividend by 4.2% for the fourth quarter, reflecting the strength of the portfolio and operations.
Total gross revenues were $80.1 million.
Net income attributable to common shareholders was $21.8 million, or $0.08 per diluted share.
Adjusted Company FFO was $48.1 million, or $0.17 per diluted share.
The Board of Trustees increased the amount of common shares available for repurchase under its repurchase authorization by 10.0 million common shares.
Lexington Realty
Lexington Realty
Forward Guidance
LXP estimates its net income attributable to common shareholders for the year ended December 31, 2022 will be within an expected range of $0.36 to $0.39 per diluted common share. LXP is also tightening its Adjusted Company FFO for the year ended December 31, 2022, to be within an expected range of $0.65 and $0.68 per diluted common share.