LXP Industrial Q2 revenue rises on property acquisitions; suspends dividend

LXP Industrial Trust

29/07/2026 11:10

Overview
US warehouse REIT's Q2 revenue edged up yr/yr, driven by acquisitions and rental growth
Adjusted Company FFO per share rose 5% yr/yr to $0.84
Company to be acquired for $5.2 bln by Brookfield and CPP Investments; common dividend suspended

Outlook
LXP will suspend regular common share dividend payments, effective immediately, due to merger agreement
Company will continue to pay Series C Preferred dividends as permitted under merger agreement
LXP will no longer provide earnings guidance or affirm past guidance in light of proposed merger

Result Drivers
ACQUISITIONS AND RENTAL GROWTH - Co said revenue increase was primarily due to property acquisitions and higher rental revenue
LEASING ACTIVITY - Co completed 2.3 mln sq ft of new and extended second-generation leases, raising base and cash base rents by 43.1% and 26.2%, respectively, excluding two fixed-rate renewals
PROPERTY ACQUISITION - Co acquired a 37-acre infill covered land investment in Phoenix, AZ for $103.2 mln at an initial cash yield of 15.7%

Company press release: ID:nGNX3KkCm

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q2 Loss Per Share
 
$0.03
 
Q2 Net Loss
 
$1.60 mln
 
Q2 Adjusted FFO
 
$49.50 mln
 

Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 4 "strong buy" or "buy", 4 "hold" and no "sell" or "strong sell"
The average consensus recommendation for the commercial reits peer group is "buy"
Wall Street's median 12-month price target for LXP Industrial Trust is $61.00, about 0.2% above its July 28 closing price of $60.85
The stock recently traded at 213 times the next 12-month earnings vs. a P/E of 292 three months ago

Reuters Recommended Reads
July 28 - STAG Industrial Q2 core FFO per share rises 3.2%
July 28 - WP Carey Q2 revenue beats estimates on higher leases; AFFO outlook raised
July 28 - Extra Space Storage lifts 2026 FFO forecast on higher pricing, cost controls

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)