LXP Industrial Trust ( (LXP) ) has released its Q4 earnings. Here is a breakdown of the information LXP Industrial Trust presented to its investors.
Discover the Best Stocks and Maximize Your Portfolio:
- See what stocks are receiving strong buy ratings from top-rated analysts.
- Filter, analyze, and streamline your search for investment opportunities with TipRanks’ Stock Screener.
LXP Industrial Trust is a publicly traded real estate investment trust specializing in Class A warehouse and distribution properties, focusing on the Sunbelt and lower Midwest markets. The company aims to grow its portfolio through acquisitions, development, and other strategic transactions.
In its fourth-quarter 2024 earnings report, LXP Industrial Trust announced a net income of $31.4 million for common shareholders, marking a significant increase from the previous year. The company also reported an adjusted company funds from operations of $47.0 million, showcasing its robust financial performance. Notably, LXP completed 1.0 million square feet of new leases and lease extensions and made substantial investments in acquisitions and development activities.
Key highlights from the report include a 4.1% increase in same-store net operating income compared to the previous year and the successful acquisition of four warehouse facilities for $157.6 million. LXP also placed a new build-to-suit warehouse into service and disposed of several properties, reflecting a strategic shift towards optimizing its portfolio. The full year saw 4.5 million square feet of leases completed and a focus on strengthening the balance sheet with a net debt to adjusted EBITDA ratio of 5.9x.
Looking ahead, the company remains optimistic about its position in the market, emphasizing continued focus on growing EBITDA and reducing leverage. LXP expects to benefit from long-term demographic trends and the growth of advanced manufacturing in its target markets, positioning itself strategically for future opportunities.
