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.
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. 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. Recent performance has proven that LXP’s leadership made the right call to deliver long-term growth and superior returns for shareholders, despite short-term dilution. LXP now has a more valuable portfolio, exciting growth prospects, a stronger balance sheet, and a more diverse and experienced Board. 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… The reconciling items include amounts to adjust earnings from consolidated partially-owned entities and equity in earnings of unconsolidated affiliates to FFO.” FFO does not represent cash generated from operating activities in accordance with GAAP and is not indicative of cash available to fund cash needs.
These 15 REITs beat low interest rates with dividend yields of up to 9.7%
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. We also expect to drive incremental returns through prudent investments, efficient allocation, and the opportunistic return of capital. The current Lexington Realty Trust volatility is 6.30%, representing the average percentage change in the investments’s value, either up or down over the past month. In today’s fast-paced world, customers are bombarded with information from all directions. In this highly competitive landscape, businesses must find ways to stand out and differentiate themselves from the competition.
Accordingly, there is no assurance that our expectations will be realized. 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.
- 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 current Lexington Realty Trust volatility is 6.30%, representing the average percentage change in the investments’s value, either up or down over the past month.
- The design of the symbol is simple yet modern, reflecting the company’s commitment to innovation and excellence.
- The Lexington Realty Trust logo has undergone several changes over the years, reflecting the company’s growth and evolution.
- 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.
For exchange delays and terms of use, please read disclaimer (will open in new tab). For the quarter ended March 31, 2021, Lexington generated Adjusted Company FFO of $63.7 million, or $0.22 per diluted share, compared to Adjusted Company FFO for the quarter ended March 31, 2020 of $49.3 million, or $0.19 per diluted share. 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.
Lexington Realty Trust upgraded to buy from hold at Stifel Nicolaus
The building in the symbol reflects the company’s focus on single-tenant real estate properties, while the bold letters convey a sense of strength and reliability. Certain Information and Where to Find ItLexington, 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. To the extent holdings of Lexington’s securities by such potential participants (or the identity of such participants) have changed since the information printed in the 2021 Proxy Statement, such information has been or will be reflected on Statements of Change in Ownership on Forms 3 and 4 filed with the SEC. You may obtain free copies of these documents using the sources indicated above. LXP’s portfolio transformation has been part of a comprehensive, multi-year plan to re-position the Company, including its portfolio, capital structure, and governance.
Morgan maintained a Hold rating on LXP Industrial Trust (LXP – Research Report), with a price target of $11.00. They can evoke emotions, create associations, and establish a connection with customers. The above properties were acquired/completed at aggregate weighted-average GAAP and Cash estimated stabilized capitalization rates of 6.1% and 5.9%, respectively. 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.
We believe the growth in value of well-located, fully modernized warehouse/distribution real estate is just beginning – and LXP is poised to capitalize and benefit from this trend. In conclusion, the symbol of Lexington Realty Trust is a vital component of its branding strategy, representing the company’s values and mission in a simple yet powerful way. Symbols are powerful communication tools that can convey complex ideas and emotions in a simple and memorable way. A well-designed symbol can help a brand stand out, build trust, and create a lasting impression on customers’ minds. Lexington Realty Trust’s branding strategy is centered around its mission to provide high-quality, single-tenant real estate properties to its customers.
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. 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. These factors include, but are not limited to, those factors and risks detailed in Lexington’s periodic filings with the Securities and Exchange Commission. Except as required by law, Lexington undertakes no obligation to publicly release the results of any revisions to those forward-looking statements which may be made to reflect events or circumstances after the occurrence of unanticipated events. These factors include, but are not limited to, those factors and risks detailed in Lexington’s periodic filings with the SEC.
The increase is primarily attributable to acquisitions and a $10.8 million increase in termination income, partially offset by property sales and a decrease in fee income. This press release shall not constitute an offer to sell or the solicitation of an offer to buy securities, nor shall there be any sale of these securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state. We are excited about our continued what happens if i buy tesla stock today growth plan of developing and purchasing high-quality warehouse/distribution assets, along with disciplined capital recycling, and we expect to drive significant upside for our shareholders. NEW YORK (MarketWatch) — Vornado Realty Trust said Tuesday that it will buy 8 million common shares of Lexington Realty Trust for $5.60 a share. The company said the shares were previously held by an affiliate of Apollo… The design elements of the logo are carefully chosen to create a sense of balance and symmetry.
- The company’s branding strategy is focused on delivering a consistent message across all channels and touchpoints.
- 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.
- The dividends shown in the table have been adjusted to account for any splits that may have occurred.
- The font used for the company’s name is bold and easy to read, with a modern and professional feel.
All market data (will open in new tab) is provided by Barchart Solutions. Prior tenant terminated its lease for 500,500 square feet prior to its lease expiration date of March 2026. Lexington entered into a direct lease with the subtenant for a portion of the vacancy. Morgan Stanley and BofA Securities acted as underwriters for the offering.
The consolidated 2021 property dispositions resulted in aggregate weighted-average GAAP and Cash capitalization rates of 6.3% and 6.5%, respectively. GAAP investment balance is in real estate under construction for consolidated projects and investments in non-consolidated entities for non-consolidated projects. This offering was made pursuant to Lexington’s currently effective shelf registration statement, which was previously filed with the Securities and Exchange Commission. In short, we are confident that LXP’s transformation will continue to deliver superior value creation. Our strategy has driven sustained outperformance, as evidenced by LXP’s improved portfolio quality, AFFO multiple expansion, and TSR performance. We are very excited about the Company’s path forward and will, as always, continue to evaluate all opportunities to maximize shareholder value.
LXP Industrial Trust (LXP)
The font used for the company’s name was also different, with a more traditional and formal feel. As previously announced, during the first quarter of 2021, Lexington declared a regular quarterly common share/unit dividend/distribution for the quarter ended March 31, 2021 of $0.1075 per common share/unit, which was paid on April 15, 2021 to common shareholders/unitholders of record as of March 31, 2021. 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 March 31, 2021, which is expected to be paid on May 17, 2021 to Series C Preferred Shareholders of record as of April 30, 2021. For the quarter ended March 31, 2021, net income attributable to common shareholders was $39.4 million, or $0.14 per diluted share, compared with net income attributable to common shareholders for the quarter ended March 31, 2020 of $16.5 million, or $0.06 per diluted share. Your Board of Trustees and executive management team are confident that by continuing to manage and grow LXP’s portfolio, and by allocating capital prudently with a view to maximizing returns to shareholders, LXP will continue to be rewarded in the marketplace. In today’s competitive landscape, businesses must find ways to stand out and differentiate themselves from the competition.
References to Lexington refer to Lexington Realty Trust and its consolidated subsidiaries. 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.
During the first quarter of 2021, Lexington increased its availability under its ATM program to $350.0 million and entered into forward sales contracts for an aggregate of 3.6 million common shares that have not yet been settled. As of March 31, 2021, Lexington had an aggregate of $94.5 million under unsettled forward common share sales contracts, which is subject to adjustment in accordance with the forward sales contracts. It and certain other non-GAAP financial measures are defined and reconciled later in this press release. The Lexington Realty Trust logo has undergone several changes over the years, reflecting the company’s growth and evolution. The first version of the logo, introduced in the early 1990s, featured a more complex design, with a stylized image of a building surrounded by a circle.
Investing Insights You Can Trust
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. Since September 2015, we have added five new independent trustees with expertise in equity REIT investing and analysis, real estate finance and investing, capital markets, investor relations, public accounting, real estate tax law, and public company governance. We have significantly increased the Board’s diversity, adding three female trustees in that time, including the addition of Nancy Elizabeth Noe, a corporate governance expert, in May 2021. LXP’s ISS Governance Quality Score is a 1, the highest possible, and LXP’s average independent trustee tenure of 5.7 years as of June 30, 2021 is well below the S&P average of 7.9 yearsvii.
J.P. Morgan Remains a Hold on LXP Industrial Trust (LXP)
Lexington Realty Trust (LXP) is a publicly traded real estate investment trust (REIT) focused on single-tenant industrial real estate investments across the United States. Lexington seeks to expand its industrial portfolio through build-to-suit transactions, sale-leaseback transactions, development projects and other transactions, including acquisitions. 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.
As a result of the steps we’ve taken, LXP is more valuable and better positioned to take advantage of the evolving landscape and the continuing strong demand for industrial real estate. 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 https://bigbostrade.com/ 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. A logo is a symbol that communicates a company’s identity, values, and personality. It is the face of the company and the first impression that customers have of the brand.
We remain proactive in our portfolio management and seek opportunities to extend leases or re-lease to new tenants, as we recently did with a 2023 lease expiration, in which we replaced a move-out risk with a new 10.5 year lease term, growing the Base and Cash Base rent by approximately 32% and 27%, respectively. As of June 30, 2021, our industrial portfolio had a weighted average lease term of approximately seven years and was 51% leased by investment grade tenants. By year-end 2022, we expect to complete the full transition of LXP’s portfolio to 100% industrial assets. This will allow LXP to fully capitalize on increased demand for logistics-focused real estate.
