Debt ManagementLXP announced a $150M tender offer for its 6.75% notes due 2028—the company’s highest-cost debt, which is expected to generate $8.9–$9.9M in annual interest savings.
Market PositionLXP's underlying markets have fared better than peers due to its exposure to the Sunbelt and Midwest, which are more removed from import-driven port locations.
ValuationEven after today's 5% move in the stock, LXP trades at an attractive 14.4x NTM FFO multiple, which is a 3x turn discount to the peer median at 17.4x.