LXP Q2 net income $3.8M, Adjusted FFO $0.16; portfolio now 100% industrial

LXP Industrial Trust

2024-Q2 EPS reported $0.01 revenue$172,037,000

Net income $3.8M ($0.01/diluted); Adjusted Company FFO $46.9M ($0.16/diluted), vs $0.18 prior year.
Same-Store NOI +5% YoY; leased 2.7M sq ft with 44.5% base rent spread (excl. one lease).
Repaid $198.9M 4.40% Senior Notes; net debt/EBITDA 6.2x; 91.9% fixed at 3.81% avg rate.
Sold last two consolidated office assets; portfolio 100% industrial; $34.7M development investment.
FY2024 guidance: net income $0.10-$0.13; Adjusted FFO tightened to $0.62-$0.65 per diluted share.

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