LXP-PC LXP Industrial Trust

MIXED Impact: 5/10 8-K
Horizon weeks Filed Apr 29, 2026 Processed 1mo ago SEC 0000910108-26-000033
8-K Item 2.02: Earnings release
Latest settled — T+20d
LXP-PC ▲ +0.99% at T+20d
NEUTRAL call ✓ call won +0.99% · α vs SPY -4.47% · entry $45.79 → $46.25
Next anchor: T+60d in 6w
Currently $45.85 · +0.12% from $45.79 entry
Entry anchored
Apr 29, 2026
via day open
T+1d
-0.51%
call -0.51% · α -1.54%
$45.56
settled 6w ago
T+5d
+0.58%
call +0.58% · α -2.53%
$46.06
settled 5w ago
T+20d
+0.99%
call +0.99% · α -4.47%
$46.25
settled 13d ago
T+60d
—
call — · α —
—
in 6w

Price Chart

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Executive Summary

LXP Industrial Trust reported Q1 2026 GAAP net loss of $(0.03)/diluted share on revenue of $85.9M (down 3.4% YoY), but Adjusted FFO per share grew 2.6% to $0.80. Same-store NOI increased 2.0%. The company reaffirmed its 2026 Adjusted FFO guidance of $3.22-$3.37/share, signaling stable core operations despite portfolio simplification. For preferred holders, the 87.5% FFO payout ratio implies adequate coverage but limited buffer.

Actionable Insight

The reaffirmed FFO guidance and modest core growth support the preferred dividend, but the elevated payout ratio (87.5%) and net leverage uptick warrant monitoring. Any material occupancy decline or interest rate increase could pressure coverage. Watch Q2 leasing results and potential capital allocation shifts.

Key Facts

  • Net loss attributable to common shareholders: $(1.9)M, or $(0.03) per diluted share
  • Adjusted Company FFO: $47.3M, or $0.80 per diluted share (up 2.6% YoY from $0.78)
  • Total gross revenues: $85.9M, down from $88.9M in Q1 2025 due to property dispositions
  • Same-store NOI increased 2.0% YoY
  • 2026 Adjusted FFO guidance reaffirmed at $3.22-$3.37 per diluted share
  • Net debt to Annualized Adjusted EBITDA: 5.1x (up from 4.9x at year-end 2025)
  • Repurchased ~325,000 common shares at avg $48.70 during Q1
  • Quarterly common dividend maintained at $0.70/share; preferred dividend $0.8125/share

Financial Impact

Adjusted FFO per share grew 2.6% YoY; revenue declined $3.0M YoY; net loss vs. prior-year profit due to lower property sale gains

revenueffonet incomeleverage

Risk Factors

  • FFO payout ratio of 87.5% leaves limited cushion for dividends
  • Net debt/EBITDA increased to 5.1x from 4.9x; rising rates could strain
  • Revenue decline from property dispositions may continue
  • 4.8% of ABR expiring in 2026; 14.7% in 2027

Market Snapshot

Exchange
NYSE
Sector
Real Estate Investment Trusts

Documents Analyzed

This report is based on 7 SEC documents filed with EDGAR.

DocumentAccession Number
8-K Filing (Primary)0000910108-26-000033
Exhibit: exhibit992-quarterlysupp.htm0000910108-26-000033
Document: lxp-20260429.htm0000910108-26-000033
Document: 0000910108-26-000033-index-headers.html0000910108-26-000033
Document: 0000910108-26-000033-index.html0000910108-26-000033
Document: 0000910108-26-000033.txt0000910108-26-000033
8-K Data (Synthetic)0000910108-26-000033
3 reports for LXP-PC
Performance horizon
Filters
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Reports for LXP-PC — sortable, filterable
Type Now
Jun 1, 2026
8d ago
8-K
NEUTRAL ★ 4/10
$46.02 $45.68▼ −0.73%▼ −0.01%$45.85 (−0.36%)
Apr 29, 2026
5w ago
8-K
MIXED ★ 5/10
$45.79 $45.56▼ −0.51%▼ −1.54%$45.85 (+0.12%)
Apr 3, 2026
9w ago
DEFA14A
NEUTRAL ★ 2/10
$45.33 $46.22▲ +1.97%▲ +1.91%$45.85 (+1.16%)
Showing 3 of 3

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