LXP Q1 net income $9M ($0.03), Adj. FFO $0.16; reaffirms FY22 FFO guidance; EVP resigns

LXP Industrial Trust

2022-Q1 EPS reported $0.03 revenue$80,278,000

Net income $9.0M ($0.03 diluted); revenue $80.3M, down from $92.6M YoY due to $10.9M termination fee in prior year.
Adjusted Company FFO $48.1M ($0.16 diluted), down from $63.7M ($0.22) YoY; industrial same-store NOI up 5.1%.
Leased 2.3M sq ft new/extended; industrial base rents up 27.7%, cash base rents up 18.1%; spreads above historical.
FY22 guidance: Net income $0.43-0.47/sh, Adj. Company FFO $0.64-0.68/sh reaffirmed; Q1 dividend $0.12/common.
EVP Lara Johnson resigns effective May 31, 2022; acquired $72M in Q1, subsequent Phoenix acquisition $59M.

item 2.02 item 5.02 item 7.01 item 9.01

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Departed

Lara Johnson

Executive Vice President

LXP · LXP Industrial Trust

Effective: 2022-05-31
Filed: May 5, 2022, 7:59 PM ET

On May 3, 2022, Lara Johnson, Executive Vice President of the Trust, resigned effective May 31, 2022.

Key facts

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Executive change SEC 8-K Item 5.02 confidence 0.95

Lara Johnson resigned as Executive Vice President at LXP Industrial Trust.

Action: resigned
Role: Executive Vice President

Exact text from the filing

On May 3, 2022, Lara Johnson, Executive Vice President of the Trust, resigned effective May 31, 2022.

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LXP Industrial Trust filing history →

Source: SEC EDGAR

accession 0001539497-22-000929

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