LXP Industrial Trust reported quarter ended March 31, 2026 results: revenue $85.9 million, net income $(1.9) million, EPS $(0.03) per diluted share.
“FINANCIAL RESULTS Revenues For the quarter ended March 31, 2026, total gross revenues were $85.9 million, compared with total gross revenues of $88.9 million for the quarter ended March 31, 2025. The decrease is primarily attributable to property dispositions. Net Income Attributable to Common Shareholders For the quarter ended March 31, 2026, net loss attributable to common shareholders was $(1.9) million, or $(0.03) per diluted share, compared with net income attributable to common shareholders for the quarter ended March 31, 2025 of $17.3 million, or $0.30 per diluted share.”
Material Agreements
LXP Industrial Trust amended Third Amended and Restated Credit Agreement with KeyBank National Association valued at $600.0 million senior unsecured revolving credit facility, or the Revolver, and (2) unsecured term l (effective 2026-01-13).
“On January 13, 2026, LXP Industrial Trust, or the Trust, amended and restated its existing credit agreement, which we refer to as the Third Amended and Restated Credit Agreement, among the Trust, as borrower, each of the financial institutions initially a signatory thereto together with their assignees pursuant to Section 12.5 therein, and KeyBank National Association, or KeyBank, as agent.”
Debt Financings
LXP Industrial Trust amended credit facility of $600.0 million senior unsecured revolving credit facility and $250.0 million unsecured term loan with KeyBank National Association at base rate plus a margin of 0.00% to 0.40% or daily SOFR or term SOFR plus 0.725% maturing January 31, 2030 for the Revolver and January 31, 2029 for the Term Loan.
“existing credit agreement, which we refer to as the Third Amended and Restated Credit Agreement, among the Trust, as borrower, each of the financial institutions initially a signatory thereto together with their assignees pursuant to Section 12.5 therein, and KeyBank National Association, or KeyBank, as agent. The Third Amended and Restated Credit Agreement amends and restates the Second Amended and Restated Credit Agreement, dated as of July 5, 2022, as the same was amended from time to time, which we refer to as the Existing Credit Agreement, among the Trust, as borrower, KeyBank, as agent, and each of the financial institutions initially a signatory thereto together with their assignees pursuant to Section 12.5 therein.”
Governance Changes
LXP Industrial Trust: Amended declaration of trust to effect a 1-for-5 reverse stock split of common shares (effective 2025-11-10).
“Effective as of 5:00 p.m. ET on November 10, 2025 (the "Effective Time"), the Trust amended its Amended and Restated Declaration of Trust pursuant to an Articles of Amendment to the Trust’s Amended and Restated Declaration of Trust (the “Articles of Amendment”) filed with the State Department of Assessments and Taxation of Maryland.”
Beth Boulerice changed role as Executive Vice President at LXP Industrial Trust.
“As previously announced, Mr. Brunner replaces Beth Boulerice, who will remain in an advisory role as an Executive Vice President of the Trust.”
Nathan Brunner was appointed as Executive Vice President, Chief Financial Officer and Treasurer at LXP Industrial Trust.
“Effective March 1, 2025, Nathan Brunner, age 42, was appointed by the Board of Trustees of LXP Industrial Trust (the “Trust”) as the Trust’s Executive Vice President, Chief Financial Officer and Treasurer.”
Nathan Brunner was appointed as Chief Financial Officer and Treasurer at LXP Industrial Trust.
“Mr. Brunner will be appointed to succeed Ms. Boulerice as Chief Financial Officer and Treasurer effective March 1, 2025.”
Nathan Brunner was appointed as Executive Vice President of Capital Markets at LXP Industrial Trust.
“Nathan Brunner was appointed Executive Vice President of Capital Markets effective upon the start of his employment with the Trust on September 1, 2024.”
Beth Boulerice changed role as Chief Financial Officer and Treasurer at LXP Industrial Trust.
“Beth Boulerice will step down from her roles as Chief Financial Officer and Treasurer effective March 1, 2025.”
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