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Dec 31, 2021
Lexington Realty Q4 2021 Earnings Report
Announced fourth quarter and year ended December 31, 2021 results.
Key Takeaways
LXP Industrial Trust reported strong fourth-quarter results, with a warehouse and distribution portfolio 99.8% leased at year-end. The company executed 1.7 million square feet of full building leases on two development projects and advanced five development projects totaling 6.3 million square feet.
Total gross revenues were $86.5 million, compared with $83.3 million for the quarter ended December 31, 2020.
Net income attributable to common shareholders was $260.5 million, or $0.90 per diluted share, compared with $102.7 million, or $0.37 per diluted share for the quarter ended December 31, 2020.
Adjusted Company FFO was $53.8 million, or $0.18 per diluted share, compared to $55.0 million, or $0.19 per diluted share for the quarter ended December 31, 2020.
The company declared a quarterly common share/unit dividend/distribution of $0.12 per common share/unit.
Lexington Realty
Lexington Realty
Forward Guidance
LXP is delaying the issuance of its estimates of net income attributable to common shareholders per diluted common share for the year ending December 31, 2022 and its estimate of Adjusted Company FFO for the year ending December 31, 2022 pending the completion of the previously announced review of strategic alternatives being conducted by its Board of Trustees.