Lexington Realty Trust Rebrands and Changes Name to LXP Industrial Trust

This press release shall not constitute an offer to sell or the solicitation of an offer to buy securities, nor shall there be any sale of these securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state. We are excited about our continued growth plan of developing Blue chip stock list and purchasing high-quality warehouse/distribution assets, along with disciplined capital recycling, and we expect to drive significant upside for our shareholders. As of June 30, 2021, total consolidated 2021 property disposition volume was $183.4 million and resulted in aggregate weighted-average GAAP and Cash capitalization rates of 7.3% and 7.9%, respectively.

• These measures are not necessarily indications of our cash flow available to fund cash needs.
• LXP’s new name and logo reflect its focus on industrial real estate investments as the Company completes its transition from a diversified net-lease REIT into a primarily single-tenant industrial REIT focused on high-quality warehouse and distribution assets in key U.S. logistics markets.
• The symbol consists of a stylized image of a building with the company’s name written in bold letters underneath it.
• As of June 30, 2021, our industrial portfolio had a weighted average lease term of approximately seven years and was 51% leased by investment grade tenants.
• Morgan maintained a Hold rating on LXP Industrial Trust (LXP – Research Report), with a price target of $11.00.

This website does not constitute an offer sell or a solicitation of an offer to buy or sell any security or investment product, and may not be relied upon in connection with any offer or sale of securities. Nothing on this website is a recommendation that you purchase, sell or hold any security or property, or that you pursue any investment style or strategy. Nothing on this website is intended to be, and you should not consider anything on the website to be, investment, accounting, tax or legal advice. Selling common shares through the forward sale agreements enables Lexington to set the price of such shares upon the pricing of the offering (subject to certain adjustments) while delaying the issuance of such shares and the receipt of the net proceeds by Lexington until the expected funding requirements described above have occurred. We have substantially completed LXP’s transformation to a single-tenant industrial REIT, while driving strong leasing results and maintaining balance sheet and financial flexibility.

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While, this information is believed to be correct, it is represented subject to errors, omissions, changes or withdrawal without notice.

We believe the growth in value of well-located, fully modernized warehouse/distribution real estate is just beginning – and LXP is poised to capitalize and benefit from this trend. The reconciling items include amounts to adjust earnings from consolidated partially-owned entities and equity in earnings of unconsolidated affiliates to FFO.” FFO does not represent cash generated from operating activities in accordance with GAAP and is not indicative of cash available to fund cash needs. References to Lexington refer to Lexington Realty Trust and its consolidated subsidiaries.

Real Estate

As of June 30, 2021, our industrial portfolio had a weighted average lease term of approximately seven years and was 51% leased by investment grade tenants. LXP’s portfolio transformation has been part of a comprehensive, multi-year plan to re-position the Company, including its portfolio, capital structure, and governance. We made a decision to transition from a diversified net-lease REIT (with office as our largest asset class) to a pure-play, single-tenant industrial REIT because we were, and remain, confident that within our demonstrated areas of expertise, industrial properties are the most attractive platform for income growth and capital appreciation for shareholders. During the second quarter of 2021, Lexington entered into forward sales contracts through an underwritten offering for an aggregate of 16.0 million common shares that have not yet been settled for an initial settlement amount of $193.7 million. As of June 30, 2021, Lexington had an aggregate of $285.2 million under unsettled forward common share sales contracts, including outstanding contracts under its ATM program, which are subject to adjustment in accordance with the forward sales contracts.

The Lexington Realty Trust symbol is a simple yet powerful design that represents the company’s values and mission. The symbol consists of a stylized image of a building with the company’s name written in bold letters underneath it. The building in the symbol reflects the company’s focus on single-tenant real estate properties, while the bold letters convey a sense of strength and reliability. As of December 31, 2012, the Company had interests in approximately 220 consolidated office, industrial and retail properties containing approximately 41.2 million square feet of rentable space, which were approximately 97.3% leased. In October 2013, Lexington Realty Trust acquired a portfolio of three parcels of land in New York. This release contains certain forward-looking statements which involve known and unknown risks, uncertainties and other factors not under Lexington’s control which may cause actual results, performance or achievements of Lexington to be materially different from the results, performance, or other expectations implied by these forward-looking statements.

Lexington Realty Trust Rebrands and Changes Name to LXP Industrial Trust

Our focus is on single-tenant industrial assets in targeted markets, which differentiates us from predominantly multi-tenant industrial REITs. The above properties were acquired at aggregate weighted-average GAAP and Cash estimated stabilized capitalization rates of 4.8% and 4.7%, respectively. Year to date total 2021 acquisition activity, including development projects placed into service, was https://investmentsanalysis.info/ $274.8 million at aggregate weighted-average GAAP and Cash estimated stabilized capitalization rates of 5.1% and 5.0%, respectively. Lexington Realty Trust’s branding strategy is centered around its mission to provide high-quality, single-tenant real estate properties to its customers. The company’s logo is an essential component of its branding strategy, representing its values and mission.

The symbol of Lexington Realty Trust comprises a stylized letter “L” in blue and white. The blue color represents trust, confidence, and stability, while the white color represents purity and clarity. The design of the symbol is simple yet modern, reflecting the company’s commitment to innovation and excellence. The design elements of the logo are carefully chosen to create a sense of balance and symmetry.

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In short, we are confident that LXP’s transformation will continue to deliver superior value creation. Our strategy has driven sustained outperformance, as evidenced by LXP’s improved portfolio quality, AFFO multiple expansion, and TSR performance. We are very excited about the Company’s path forward and will, as always, continue to evaluate all opportunities to maximize shareholder value.

As of the date of this earnings release, Lexington has an outstanding balance of $215.0 million and availability of $385.0 million under its unsecured revolving credit facility, subject to covenant compliance. In today’s competitive landscape, businesses must find ways to stand out and differentiate themselves from the competition. The symbol of Lexington Realty Trust is an excellent example of how a well-designed symbol can help a company establish a strong brand identity and create a lasting impression on customers’ minds. The Sharpe ratio shows whether the portfolio’s excess returns are due to smart investment decisions or a result of taking a higher risk. The higher a portfolio’s Sharpe ratio, the better its risk-adjusted performance. The chart shows the growth of an initial investment of $10,000 in Lexington Realty Trust, comparing it to the performance of the S&P 500 index or another benchmark.

Lexington also declared a cash dividend of $0.8125 per share on its Series C Cumulative Convertible Preferred Stock (“Series C Preferred”) for the quarter ended June 30, 2021, which is expected to be paid on August 16, 2021 to Series C Preferred Shareholders of record as of July 30, 2021. Lexington Realty Trust’s branding strategy is focused on delivering a consistent message across all channels and touchpoints, creating a cohesive and recognizable brand identity that resonates with its customers. The company’s branding strategy is focused on delivering a consistent message across all channels and touchpoints. From its website to its marketing materials to its physical properties, Lexington Realty Trust strives to create a cohesive and recognizable brand identity that resonates with its customers.

As a result of the steps we’ve taken, LXP is more valuable and better positioned to take advantage of the evolving landscape and the continuing strong demand for industrial real estate. Lexington believes that the measures defined below are helpful to investors in measuring our performance or that of an individual investment. These measures are not necessarily indications of our cash flow available to fund cash needs. Additionally, they should not be used as an alternative to the respective most comparable GAAP measures when evaluating Lexington’s financial performance or cash flow from operating, investing or financing activities or liquidity. In conclusion, the symbol of Lexington Realty Trust is a vital component of its branding strategy, representing the company’s values and mission in a simple yet powerful way. Symbols are powerful communication tools that can convey complex ideas and emotions in a simple and memorable way.