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Sep 30, 2024
Lexington Realty Q3 2024 Earnings Report
LXP Industrial Trust reported strong third-quarter results driven by same-store NOI growth and strategic capital allocation.
Key Takeaways
LXP Industrial Trust reported a net income of $4.7 million, or $0.02 per diluted common share, and Adjusted Company FFO of $46.7 million, or $0.16 per diluted common share. The company experienced a 5.4% increase in Same-Store NOI and completed new leases and lease extensions totaling 0.7 million square feet.
Net Income attributable to common shareholders was $4.7 million, or $0.02 per diluted common share.
Adjusted Company FFO was $46.7 million, or $0.16 per diluted common share.
Same-Store NOI increased by 5.4% compared to the same period in 2023.
Completed new leases and lease extensions totaling 0.7 million square feet, raising Base and Cash Base Rents by 38.3% and 22.5%, respectively.
Forward Guidance
LXP estimates net income attributable to common shareholders to be within a range of $0.14 to $0.15 per diluted common share for the year ended December 31, 2024. Adjusted Company FFO is expected to be within a range of $0.63 to $0.64 per diluted common share.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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