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Dec 31, 2022
Lexington Realty Q4 2022 Earnings Report
Reported strong operating performance driven by leasing, dispositions and leverage reduction.
Key Takeaways
LXP Industrial Trust reported a decrease in total gross revenues to $81.1 million compared to $86.5 million for the same quarter last year, while net income attributable to common shareholders was $36.9 million, or $0.13 per diluted share, compared to $260.5 million, or $0.90 per diluted share, for the same period last year. Adjusted Company FFO was $47.9 million, or $0.17 per diluted share, compared to $53.8 million, or $0.18 per diluted share, for the same quarter of the previous year. The company's stabilized industrial portfolio was 99.5% leased as of December 31, 2022.
Total gross revenues were $81.1 million.
Net income attributable to common shareholders was $36.9 million, or $0.13 per diluted share.
Adjusted Company FFO was $47.9 million, or $0.17 per diluted share.
Stabilized industrial portfolio was 99.5% leased as of December 31, 2022.
Lexington Realty
Lexington Realty
Forward Guidance
LXP estimates that its net income attributable to common shareholders for the year ended December 31, 2023 will be within an expected range of $0.35 to $0.39 per diluted common share. LXP estimates its Adjusted Company FFO for the year ended December 31, 2023, will be within an expected range of $0.66 to $0.70 per diluted common share.