Lexington Realty Trust Announces Public Offering of Common Shares

For the quarter ended June 30, 2021, net income attributable to common shareholders was $71.0 million, or $0.26 per diluted share, compared with net income attributable to common shareholders for the quarter ended June 30, 2020 of $17.3 million, or $0.06 per diluted share. The Lexington Realty Trust logo has undergone several changes over the years, reflecting the company’s growth and evolution. The first version of the logo, introduced in the early 1990s, featured a more complex design, with a stylized image of a building surrounded by a circle. The font used for the company’s name was also different, with a more traditional and formal feel. Lexington Realty Capital is a privately-owned real estate investment firm focused on the purchase and development of multifamily and mixed use properties in New York City, Los Angeles, and other select US cities.

In the early 2000s, the logo underwent a significant redesign, with a simplified design that reflected the company’s focus on single-tenant properties. The building became the central element of the logo, with the company’s name written in bold letters underneath it. The font used for the name was also changed to a more modern and professional style, reflecting the company’s commitment to innovation and excellence. A logo is a symbol that communicates a company’s identity, values, and personality. It is the face of the company and the first impression that customers have of the brand. NEW YORK (MarketWatch) — Vornado Realty Trust said Tuesday that it will buy 8 million common shares of Lexington Realty Trust for $5.60 a share.

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Since September 2015, we have added five new independent trustees with expertise in equity REIT investing and analysis, real estate finance and investing, capital markets, investor relations, public accounting, real estate tax law, and public company governance. We have significantly increased the Board’s diversity, adding three female trustees in that time, including the que es trading forex addition of Nancy Elizabeth Noe, a corporate governance expert, in May 2021. LXP’s ISS Governance Quality Score is a 1, the highest possible, and LXP’s average independent trustee tenure of 5.7 years as of June 30, 2021 is well below the S&P average of 7.9 yearsvii. We believe our portfolio is well-positioned to continue driving substantial, sustained value creation.

• This guidance is forward looking, excludes the impact of certain items and is based on current expectations.
• Wells Fargo Securities, J.P. Morgan and KeyBanc Capital Markets are acting as underwriters for the offering.
• In today’s fast-paced world, customers are bombarded with information from all directions.
• The underwriters may offer the common shares from time to time for sale in one or more transactions on the New York Stock Exchange, in the over-the-counter market, through negotiated transactions or otherwise at market prices prevailing at the time of sale, at prices related to prevailing market prices at the time of sale or at negotiated prices.
• The company’s logo is an essential component of its branding strategy, representing its values and mission.

The building in the symbol is designed to be a simple and recognizable shape, with clean lines and minimalistic details. The font used for the company’s name is bold and easy to read, with a modern and professional feel. Discover the significance of the symbol of Lexington Realty Trust and its role in the company’s branding strategy. Morgan maintained a Hold rating on LXP Industrial Trust (LXP – Research Report), with a price target of $11.00. As of June 30, 2021, Lexington had $125.0 million outstanding under its unsecured revolving credit facility and ended the quarter with net debt to Adjusted EBITDA at 4.9x.

Analysts Offer Insights on Financial Companies: LXP Industrial Trust (LXP), BrightSpire Capital (BRSP) and Lemonade (LMND)

Recent performance has proven that LXP’s leadership made the right call to deliver long-term growth and superior returns for shareholders, despite short-term dilution. LXP now has a more valuable portfolio, exciting growth prospects, a stronger balance sheet, and a more diverse and experienced Board. You may be aware that as of June 30, 2021, Land & Buildings (“L&B”) disclosed a 0.7% ownership position in LXP. Members of the LXP Board and management team have each recently met with representatives of L&B.

Lexington has used non-GAAP financial measures as defined by the Securities and Exchange Commission Regulation G in this Quarterly Earnings Release and in other public disclosures. Additionally, Lexington is increasing the low and high end of its Adjusted https://investmentsanalysis.info/ Company FFO guidance range for the year ended December 31, 2021 by a penny, to a revised range of $0.74 to $0.77 per diluted common share. This guidance is forward looking, excludes the impact of certain items and is based on current expectations.

These factors include, but are not limited to, those factors and risks detailed in Lexington’s periodic filings with the SEC. Except as required by law, Lexington undertakes no obligation to publicly release the results of any revisions to those forward-looking statements which may be made to reflect events or circumstances after the occurrence of unanticipated events. These factors include, but are not limited to, those factors and risks detailed in Lexington’s periodic filings with the Securities and Exchange Commission. LXP has a strong management team, as demonstrated by its track record in executing the transformation and delivering sector-leading results.

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To the extent holdings of Lexington’s securities by such potential participants (or the identity of such participants) have changed since the information printed in the 2021 Proxy Statement, such information has been or will be reflected on Statements of Change in Ownership on Forms 3 and 4 filed with the SEC. You may obtain free copies of these documents using the sources indicated above. By year-end 2022, we expect to complete the full transition of LXP’s portfolio to 100% industrial assets. This will allow LXP to fully capitalize on increased demand for logistics-focused real estate.

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.

A well-designed symbol can help a brand stand out, build trust, and create a lasting impression on customers’ minds. In 2016, the logo underwent another minor change, with the font of the company’s name being slightly modified to create a more cohesive and balanced design. The changes to the logo over the years reflect the company’s commitment to staying relevant and up-to-date, while still maintaining its core values and mission. The Lexington Realty Trust logo is a symbol of the company’s strength, reliability, and commitment to excellence in the real estate industry. Your Board of Trustees and executive management team are confident that by continuing to manage and grow LXP’s portfolio, and by allocating capital prudently with a view to maximizing returns to shareholders, LXP will continue to be rewarded in the marketplace. As previously announced, during the second quarter of 2021, Lexington declared a regular quarterly common share/unit dividend/distribution for the quarter ended June 30, 2021 of $0.1075 per common share/unit, which was paid on July 15, 2021 to common shareholders/unitholders of record as of June 30, 2021.

Vornado, Winthrop buy shares in Lexington

Lexington Realty Trust reports have an aggregate usefulness score of 4.8 based on 107 reviews. We are excited to provide an update on our progress on ESG initiatives in the near future as ESG continues to be a top objective for our Board and management. For the quarter ended June 30, 2021, Lexington generated Adjusted Company FFO of $52.2 million, or $0.18 per diluted share, compared to Adjusted Company FFO for the quarter ended June 30, 2020 of $51.4 million, or $0.19 per diluted share. In today’s fast-paced world, customers are bombarded with information from all directions. In this highly competitive landscape, businesses must find ways to stand out and differentiate themselves from the competition. The information contained herein does not constitute investment advice and made available for educational purposes only.

• 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.
• The font used for the name was also changed to a more modern and professional style, reflecting the company’s commitment to innovation and excellence.
• 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.
• While, this information is believed to be correct, it is represented subject to errors, omissions, changes or withdrawal without notice.
• Lexington Realty Trust reports have an aggregate usefulness score of 4.8 based on 107 reviews.

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.

Instrument NameLxp Industrial TrustInstrument Symbol(LXP-N)Instrument ExchangeNYSE

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.

We are able to capitalize on exceptionally strong demand for well-located industrial warehouse and distribution facilities and command strong re-leasing rates. Most recently, in the second quarter of 2021, we increased industrial Base and Cash Base rents by 13% and 7%, respectively, as part of four lease extensions. We remain proactive in our portfolio management and seek opportunities to extend leases or re-lease to new tenants, as we recently did with a 2023 lease expiration, in which we replaced a move-out risk with a new 10.5 year lease term, growing the Base and Cash Base rent by approximately 32% and 27%, respectively.

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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.