LXP Q3 Adj FFO $0.16/diluted, raises dividend 3.8%, tightens FY2024 guidance

LXP Industrial Trust

2024-Q3 EPS reported $0.02 revenue$257,607,000

Net income $4.7M ($0.02 diluted); Adj Company FFO $46.7M ($0.16 diluted).
Same-Store NOI up 5.4% YoY; new leases/extensions 0.7M sq ft with 38.3% Base Rent increase.
Quarterly common dividend raised 3.8% to $0.135/share ($0.54 annualized).
FY2024 guidance tightened to $0.63-$0.64 diluted Adj FFO; net income $0.14-$0.15 diluted.
Subsequent events: disposed three Chicago facilities for $136.7M; acquired Savannah GA for $34.1M; tenant purchase option in Phoenix $86.5M closing Dec 2024.

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