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Sep 30, 2023
Lexington Realty Q3 2023 Earnings Report
Reported third quarter results with increased industrial same-store NOI and completed new and extended leases.
Key Takeaways
LXP Industrial Trust reported a net income attributable to common shareholders of $11.0 million, or $0.04 per diluted common share, and Adjusted Company FFO of $51.9 million, or $0.18 per diluted common share. The company increased industrial same-store NOI by 5.0% and completed 481,500 square feet of new and extended leases.
Net Income attributable to common shareholders was $11.0 million, or $0.04 per diluted common share.
Adjusted Company FFO was $51.9 million, or $0.18 per diluted common share.
Industrial Same-Store NOI increased 5.0% compared to the same period in 2022.
Completed 481,500 square feet of new and extended leases, increasing Industrial Base and Cash Base Rents by 26.3% and 15.9%, respectively.
Forward Guidance
LXP estimates net income attributable to common shareholders for the year ended December 31, 2023, will be within a range of $0.25 to $0.27 per diluted common share and Adjusted Company FFO to be within a range of $0.68 and $0.70 per diluted common share.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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