Lexington Realty Trust is a publicly traded REIT focused on single-tenant industrial real estate investments across the United States. Lexington seeks to expand its industrial portfolio through acquisitions, build-to-suit transactions, sale-leaseback transactions, development projects and other transactions. Lexington presents FFO available to common shareholders and unitholders – basic and also presents FFO available to all equityholders and unitholders – diluted on a company-wide basis as if all securities that are convertible, at the holder’s option, into Lexington’s common shares, are converted at the beginning of the period. Lexington also presents Adjusted Company FFO available to all equityholders and unitholders – diluted which adjusts FFO available to all equityholders and unitholders – diluted for certain items which we believe are not indicative of the operating results of Lexington’s real estate portfolio. Lexington believes this is an appropriate presentation as it is frequently requested by security analysts, investors and other interested parties.
Prices and returns on equities are listed without consideration of fees, commissions, taxes, penalties, or interest payable due to purchasing, holding, or selling. The table displays the monthly dividend distributions for Lexington Realty Trust. The dividends shown in the table have been adjusted to account for any splits that may have occurred.
Instrument NameLxp Industrial TrustInstrument Symbol(LXP-N)Instrument ExchangeNYSE
The underwriters may offer the common shares from time to time for sale in one or more transactions on the New York Stock Exchange, in the over-the-counter market, through negotiated transactions or otherwise at market prices prevailing at the time of sale, at prices related to prevailing market prices at the time of sale or at negotiated prices. Certain Information and Where to Find ItLexington, Envelope indicator its trustees and certain of its executive officers and other employees may be deemed to be participants in the solicitation of proxies from shareholders in connection with the Solicitation. Information relating to the foregoing can also be found in Lexington’s definitive proxy statement for its 2021 annual meeting of shareholders (the “2021 Proxy Statement”), filed with the SEC on April 8, 2021.
- Lexington believes that the measures defined below are helpful to investors in measuring our performance or that of an individual investment.
- Our focus is on single-tenant industrial assets in targeted markets, which differentiates us from predominantly multi-tenant industrial REITs.
- The font used for the company’s name was also different, with a more traditional and formal feel.
- A well-designed symbol can help a brand stand out, build trust, and create a lasting impression on customers’ minds.
- Forward-looking statements, which are based on certain assumptions and describe our future plans, strategies and expectations, are generally identifiable by use of the words “believes,” “expects,” “intends,” “anticipates,” “estimates,” “projects,” “may,” “plans,” “predicts,” “will,” “will likely result” or similar expressions.
Lexington also declared a cash dividend of $0.8125 per share on its Series C Cumulative Convertible Preferred Stock (“Series C Preferred”) for the quarter ended June 30, 2021, which is expected to be paid on August 16, 2021 to Series C Preferred Shareholders of record as of July 30, 2021. Lexington Realty Trust’s branding strategy is focused on delivering a consistent message across all channels and touchpoints, creating a cohesive and recognizable brand identity that resonates with its customers. The company’s branding strategy is focused on delivering a consistent message across all channels and touchpoints. From its website to its marketing materials to its physical properties, Lexington Realty Trust strives to create a cohesive and recognizable brand identity that resonates with its customers.
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They can evoke emotions, create associations, and establish a connection with customers. The current Lexington Realty Trust volatility is 5.50%, representing the average percentage change in the investments’s value, either up or down over the past month. J.P. Morgan Securities LLC, Wells Fargo Securities, LLC, BofA Securities, Inc., KeyBanc Capital Markets Inc., PNC Capital Markets LLC, Regions Securities LLC, TD Securities (USA) LLC and U.S. Bancorp Investments, Inc. are acting as joint book-running managers of the offering and Mizuho Securities USA LLC, Stifel, Nicolaus & Company, Incorporated, Truist Securities, Inc., FHN Financial Securities Corp. and Samuel A. Ramirez & Company, Inc. are acting as co-managers of the offering. The offering is subject to the satisfaction of customary closing conditions and is expected to close on August 30, 2021.
LXP Industrial Trust downgraded to sector weight from overweight at KeyBanc Capital
Lexington Realty Trust is a real estate investment trust (REIT) that specializes in the acquisition, development, and management of single-tenant real estate properties. The company’s portfolio comprises over 200 properties, with a total of approximately 43 million square feet of space. Wells Fargo Securities, J.P. Morgan and KeyBanc Capital Markets are acting as underwriters for the offering. In connection with the forward sale agreements, the forward purchasers or their affiliates are expected to borrow and sell to the underwriters an aggregate of 16,000,000 common shares (or an aggregate of 18,400,000 common shares if the underwriters exercise their option to purchase additional shares in full) that will be delivered in this offering.
- Lexington Realty Trust’s branding strategy is centered around its mission to provide high-quality, single-tenant real estate properties to its customers.
- A symbol that reflects a company’s commitment to quality, innovation, and customer service can help build a strong brand that resonates with customers and creates long-term loyalty.
- The chart shows the growth of an initial investment of $10,000 in Lexington Realty Trust, comparing it to the performance of the S&P 500 index or another benchmark.
- Most recently, in the second quarter of 2021, we increased industrial Base and Cash Base rents by 13% and 7%, respectively, as part of four lease extensions.
Forward-Looking Statements This press release contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. We intend such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995 and include this statement for purposes of complying with these safe harbor provisions. Forward-looking statements, which are based on certain assumptions and describe our future plans, strategies and expectations, are generally identifiable by use of the words “believes,” “expects,” “intends,” “anticipates,” “estimates,” “projects,” “may,” “plans,” “predicts,” “will,” “will likely result” or similar expressions. Readers should not rely on forward-looking statements since they involve known and unknown risks, uncertainties and other factors which are, in some cases, beyond our control and which could materially affect actual results, performances or achievements. As a result of undertaking a transition to industrial, there have been short-term costs, in particular to our earnings and Funds from Operations (FFO) growth, which have been impacted by the sale of non-core assets at higher capitalization rates and the redeployment of proceeds into higher-quality, higher-growth industrial properties.
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All interests in properties and loans are held, and all property operating activities are conducted, through special purpose entities, which are separate and distinct legal entities that maintain separate books and records, but in some instances are consolidated for financial statement purposes and/or disregarded for income tax purposes. The assets and credit of each special purpose entity with a property subject to a mortgage loan are not available to creditors to satisfy the debt and other obligations of any other person, including any other special purpose entity or affiliate. In the real estate industry, symbols play a crucial role in establishing a brand’s identity and creating a sense of trust and reliability. A well-designed symbol can help a real estate company stand out in a crowded market and communicate its values and mission in a compelling way. A symbol that reflects a company’s commitment to quality, innovation, and customer service can help build a strong brand that resonates with customers and creates long-term loyalty. This website does not constitute an offer to purchase any real estate properties.
Lexington Realty Capital DBA The Beverly Group is a Los Angeles and New York City real estate developer, founded by Jeffrey Schleider, with a focus on multifamily and mixed use properties. Supported by world-class markets data from Dow Jones and FactSet, and partnering with Automated Insights, MarketWatch Automation brings you the latest, most pertinent content at record speed and with unparalleled accuracy. As always, we will keep you informed of our progress and look forward to our continuing dialogue with shareholders. For more information and updates, please visit our website at and follow us on social media. With the support and oversight of our Board, we committed to building an ESG platform in 2019 and accelerated our efforts in 2020. Our Board and management have built an impressive ESG program centered on enhancing stakeholder value, reducing the Company’s environmental impact, attracting and retaining top talent, engaging and strengthening tenant relationships, and providing transparency to our stakeholders.
LXP Industrial (LXP) Matches Q4 FFO Estimates
Since others do not calculate these measures in a similar fashion, these measures may not be comparable to similarly titled measures as reported by others. These measures should not be considered as an alternative to net income as an indicator of Lexington’s operating performance or as an alternative to cash flow as a measure of liquidity. Lexington will not initially receive any proceeds from the sale of common shares by the forward purchasers or their affiliates in the offering. Lexington intends to use the net proceeds, if any, it receives upon the future settlement of the forward sale agreements for working capital and general corporate purposes, including, without limitation, to fund its ongoing and future development projects. Pending the application of such net proceeds, Lexington may repay future amounts outstanding under its unsecured credit facility, which amounts may be re-borrowed from time to time. LXP’s new name and logo reflect its focus on industrial real estate investments as the Company completes its transition from a diversified net-lease REIT into a primarily single-tenant industrial REIT focused on high-quality warehouse and distribution assets in key U.S. logistics markets.
Lexington now estimates that its net income attributable to common shareholders for the year ended December 31, 2021 will be within an expected range of $0.65 to $0.68 per diluted common share. For the quarter ended June 30, 2021, https://investmentsanalysis.info/ total gross revenues were $81.5 million, compared with total gross revenues of $81.8 million for the quarter ended June 30, 2020. The slight decrease is primarily attributable to property sales, partially offset by acquisitions.
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As we do with all shareholder feedback, we will carefully consider and evaluate L&B’s suggestions, along with any potential trustee candidates. Rest assured that we will remain sharply focused on completing the successful transformation of LXP, building upon our progress, capitalizing on momentum in the industrial real estate market and delivering the best possible results for shareholders. LXP Industrial Trust is a real estate investment trust, which engages in financing, acquisition, and ownership of portfolio of single-tenant commercial properties. Shares of LXP Industrial Trust dropped 6.6% in premarket trading Friday, after the real estate investment trust, focused on single-tenant warehouse and distribution investments, said it has decided to suspend its evaluati… LXP continues to strengthen its Board composition and governance, with a focus on creating a diverse and experienced Board and tailoring LXP’s Board and governance to align with the Company’s strategic plan. We have a track record of refreshing our Board with diverse candidates who bring the right skills and experience for our Company.