NYSE : LXP
LXP Industrial Trust — Financial statements
Real Estate · REIT - Industrial · United States
Last price 61.18 USD (Oct 30, 2026, 4:00 PM EDT) · Market cap 3.61B
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Financial statements
Income statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Rental Revenue | 347.62M | 346.14M | 354.35M | 334.22M | 313.99M | 339.94M |
| Other Revenue | 3.96M | 4.09M | 4.11M | 6.28M | 7.25M | 4.05M |
| Total Revenue | 351.59M | 350.23M | 358.46M | 340.50M | 321.25M | 344.00M |
| Property Expenses | 71.07M | 64.57M | 61.01M | 58.40M | 59.05M | 47.75M |
| Selling, General & Administrative | 39.36M | 40.05M | 40.05M | 36.33M | 38.71M | 35.46M |
| Depreciation & Amortization | 190.86M | 196.62M | 192.86M | 183.52M | 180.57M | 176.71M |
| Total Operating Expenses | 301.30M | 301.24M | 293.86M | 278.22M | 278.42M | 259.92M |
| Operating Income | 50.29M | 48.99M | 64.60M | 62.28M | 42.82M | 84.08M |
| Interest Expense | -53.91M | -62.92M | -66.48M | -46.39M | -45.42M | -46.71M |
| Income (Loss) on Equity Investments | -6.03M | -4.41M | -3.18M | 1.37M | 16.01M | -190.00K |
| Other Non-Operating Income | 3.31M | 2.83M | 7.71M | 2.98M | 935.00K | 1.36M |
| EBT Excluding Unusual Items | -6.34M | -15.51M | 2.65M | 20.24M | 14.35M | 38.55M |
| Gain (Loss) on Sale of Assets | 140.22M | 145.63M | 40.06M | 33.01M | 106.15M | 367.27M |
| Asset Writedown | -16.49M | -3.04M | -5.54M | |||
| Other Unusual Items | -12.90M | -11.81M | -132.00K | -119.00K | -13.89M | |
| Pretax Income | 120.98M | 118.31M | 42.71M | 36.63M | 117.34M | 386.38M |
| Income Tax Expense | 537.00K | 699.00K | -127.00K | 703.00K | 1.10M | 1.29M |
| Earnings From Continuing Operations | 120.45M | 117.61M | 42.84M | 35.92M | 116.24M | 385.09M |
| Net Income to Company | 120.45M | 117.61M | 42.84M | 35.92M | 116.24M | 385.09M |
| Minority Interest in Earnings | 194.00K | -4.45M | 1.70M | -5.54M | -2.46M | -2.44M |
| Net Income | 120.64M | 113.16M | 44.53M | 30.38M | 113.78M | 382.65M |
| Preferred Dividends & Other Adjustments | 6.62M | 6.69M | 6.61M | 6.52M | 6.48M | 6.80M |
| Net Income to Common | 114.02M | 106.47M | 37.92M | 23.86M | 107.31M | 375.85M |
| Basic Shares Outstanding | 58.20M | 58.38M | 58.29M | 58.05M | 55.98M | 55.53M |
| Diluted Shares Outstanding | 58.55M | 58.57M | 58.31M | 58.24M | 56.49M | 57.47M |
| EPS (Basic) | 1.96 | 1.82 | 0.65 | 0.41 | 1.92 | 6.77 |
| EPS (Diluted) | 1.95 | 1.82 | 0.65 | 0.41 | 1.90 | 6.68 |
| Dividend Per Share | 2.10 | 2.73 | 2.62 | 2.52 | 2.42 | 2.21 |
| Operating Margin | 14.30% | 13.99% | 18.02% | 18.29% | 13.33% | 24.44% |
| Profit Margin | 32.43% | 30.40% | 10.58% | 7.01% | 33.40% | 109.26% |
| EBITDA | 236.75M | 239.71M | 252.82M | 248.82M | 226.24M | 263.60M |
| EBITDA Margin | 67.34% | 68.44% | 70.53% | 73.07% | 70.43% | 76.63% |
| D&A For Ebitda | 186.47M | 190.72M | 188.22M | 186.54M | 183.42M | 179.52M |
| EBIT | 50.29M | 48.99M | 64.60M | 62.28M | 42.82M | 84.08M |
| EBIT Margin | 14.30% | 13.99% | 18.02% | 18.29% | 13.33% | 24.44% |
| Funds From Operations (FFO) | 171.40M | 168.64M | 195.47M | 199.56M | 223.72M | 200.87M |
| FFO Per Share | 2.99 | 2.95 | 3.41 | 3.50 | 4.00 | 3.60 |
| Adjusted Funds From Operations (AFFO) | 158.53M | 155.91M | 185.10M | 187.25M | 207.21M | 200.87M |
| AFFO Per Share | 3.31 | 3.15 | 3.20 | 3.50 | 3.36 | 3.49 |
| Effective Tax Rate | 0.44% | 0.59% | 1.92% | 0.94% | 0.34% | |
| Revenue as Reported | 351.59M | 350.23M | 358.46M | 340.50M | 321.25M | 344.00M |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Property, Plant & Equipment | 3.14B | 3.03B | 3.36B | 3.40B | 3.45B | 3.27B |
| Total Real Estate Assets | 3.20B | 3.11B | 3.44B | 3.48B | 3.53B | 3.37B |
| Cash & Equivalents | 110.31M | 170.39M | 101.84M | 199.25M | 54.39M | 190.93M |
| Accounts Receivable | 91.21M | 88.08M | 87.81M | 149.21M | 135.66M | 66.81M |
| Investment In Debt and Equity Securities | 130.14M | |||||
| Other Intangible Assets | 86.67M | 109.27M | 123.19M | 155.16M | 190.36M | |
| Restricted Cash | 175.00K | 257.00K | 237.00K | 216.00K | 116.00K | 101.00K |
| Other Current Assets | 9.17M | 66.43M | 82.59M | |||
| Trading Asset Securities | 16.32M | |||||
| Deferred Long-Term Tax Assets | 165.00K | 166.00K | 89.00K | 18.00K | ||
| Deferred Long-Term Charges | 49.03M | 35.07M | 39.82M | 35.01M | 25.21M | 18.86M |
| Other Long-Term Assets | 52.64M | 46.78M | 60.61M | 66.20M | 66.18M | 83.34M |
| Total Assets | 3.50B | 3.54B | 3.84B | 4.19B | 4.05B | 4.01B |
| Current Portion of Long-Term Debt | 198.93M | 6.26M | ||||
| Current Portion of Leases | 983.00K | 4.26M | ||||
| Long-Term Debt | 1.25B | 1.25B | 1.44B | 1.44B | 1.36B | 1.37B |
| Long-Term Leases | 5.11M | 4.88M | 17.11M | 20.23M | 25.12M | 29.09M |
| Accounts Payable | 75.52M | 54.11M | 57.05M | 57.98M | 74.26M | 71.35M |
| Accrued Expenses | 11.55M | 9.22M | 10.52M | 11.38M | 9.18M | 8.48M |
| Other Current Liabilities | 2.72M | 44.72M | 41.16M | 40.03M | 39.57M | 40.89M |
| Long-Term Unearned Revenue | 15.93M | 19.62M | 26.67M | 26.87M | 26.67M | 29.19M |
| Other Long-Term Liabilities | 442.00K | |||||
| Total Liabilities | 1.46B | 1.49B | 1.72B | 1.93B | 1.66B | 1.68B |
| Preferred Stock, Convertible | 94.01M | 94.02M | 94.02M | 94.02M | 94.02M | 94.02M |
| Common Stock | 6.00K | 6.00K | 6.00K | 29.00K | 29.00K | 28.00K |
| Additional Paid-In Capital | 3.31B | 3.31B | 3.32B | 3.33B | 3.32B | 3.25B |
| Distributions in Excess of Earnings | -1.37B | -1.37B | -1.32B | -1.20B | -1.08B | -1.05B |
| Comprehensive Income & Other | 1.97M | 427.00K | 6.14M | 9.48M | 17.69M | -6.26M |
| Total Common Equity | 1.94B | 1.94B | 2.00B | 2.14B | 2.26B | 2.20B |
| Minority Interest | 7.28M | 11.70M | 22.49M | 33.37M | 38.27M | 32.37M |
| Shareholders' Equity | 2.04B | 2.05B | 2.12B | 2.27B | 2.39B | 2.32B |
| Total Liabilities & Equity | 3.50B | 3.54B | 3.84B | 4.19B | 4.05B | 4.01B |
| Total Debt | 1.35B | 1.36B | 1.59B | 1.79B | 1.51B | 1.53B |
| Net Cash (Debt) | -1.24B | -1.19B | -1.49B | -1.59B | -1.44B | -1.34B |
| Net Cash Per Share | -21.23 | -20.32 | -25.47 | -27.33 | -25.53 | -23.34 |
| Filing Date Shares Outstanding | 58.96M | 59.08M | 59.15M | 58.86M | 58.51M | 57.13M |
| Total Common Shares Outstanding | 58.96M | 59.08M | 58.90M | 58.69M | 58.34M | 56.75M |
| Book Value Per Share | 32.96 | 32.88 | 34.03 | 36.43 | 38.71 | 38.71 |
| Tangible Book Value | 1.94B | 1.86B | 1.90B | 2.01B | 2.10B | 2.01B |
| Tangible Book Value Per Share | 32.96 | 31.42 | 32.17 | 34.33 | 36.05 | 35.36 |
| Land | 366.88M | 399.69M | 348.13M | 346.82M | 342.89M | |
| Buildings | 3.54B | 3.77B | 3.42B | 3.34B | 3.24B | |
| Construction In Progress | 129.94M | 43.77M | 17.17M | 321.13M | 371.14M | 166.65M |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | 120.64M | 113.16M | 44.53M | 30.38M | 113.78M | 382.65M |
| Depreciation & Amortization | 190.96M | 195.22M | 192.39M | 190.68M | 187.40M | 183.25M |
| Other Amortization | 7.52M | 6.79M | 5.75M | |||
| Gain (Loss) on Sale of Assets | -145.63M | -145.63M | -40.06M | -33.01M | -106.15M | -367.27M |
| Asset Writedown | 16.49M | 3.04M | 5.54M | |||
| Income (Loss) on Equity Investments | 4.41M | 4.41M | 4.83M | 3.25M | 1.02M | 190.00K |
| Change in Accounts Receivable | -4.80M | -4.80M | 5.64M | -488.00K | 623.00K | 1.06M |
| Change in Accounts Payable | 979.00K | 979.00K | 2.91M | 4.41M | -1.57M | 8.00M |
| Change in Other Net Operating Assets | -1.30M | -1.30M | -862.00K | 2.20M | 700.00K | 2.14M |
| Other Operating Activities | 14.04M | 19.89M | -3.89M | -4.43M | -4.66M | 4.80M |
| Operating Cash Flow | 186.82M | 188.72M | 211.19M | 209.45M | 194.27M | 220.35M |
| Acquisition of Real Estate Assets | -202.19M | -87.35M | -285.64M | -153.75M | -442.97M | -1.06B |
| Sale of Real Estate Assets | 271.00M | 380.23M | 177.47M | 97.76M | 194.47M | 728.36M |
| Net Sale / Acq. of Real Estate Assets | 68.82M | 292.88M | -108.17M | -55.99M | -248.50M | -333.74M |
| Investment in Marketable & Equity Securities | -747.00K | 4.47M | 135.95M | -123.64M | 16.70M | 3.81M |
| Other Investing Activities | 4.90M | 5.32M | 65.83M | 867.00K | 947.00K | |
| Investing Cash Flow | 59.77M | 298.20M | 86.40M | -183.45M | -236.92M | -337.76M |
| Short-Term Debt Issued | 85.00M | 125.00M | 280.00M | 555.00M | ||
| Long-Term Debt Issued | 298.27M | 410.64M | ||||
| Total Debt Issued | 116.95M | 85.00M | 423.27M | 280.00M | 965.64M | |
| Short-Term Debt Repaid | -85.00M | -125.00M | -280.00M | -555.00M | ||
| Long-Term Debt Repaid | -222.29M | -204.31M | -12.27M | -11.28M | -216.89M | |
| Total Debt Repaid | -262.67M | -222.29M | -289.31M | -137.26M | -291.27M | -771.89M |
| Net Debt Issued (Repaid) | -145.72M | -222.29M | -204.31M | 286.00M | -11.28M | 193.75M |
| Issuance of Common Stock | 215.57M | |||||
| Repurchase of Common Stock | -19.82M | -4.00M | -130.68M | |||
| Common & Preferred Dividends Paid | -168.81M | -164.27M | -158.16M | -151.93M | -142.46M | -128.33M |
| Total Dividends Paid | -168.81M | -164.27M | -158.16M | -151.93M | -142.46M | -128.33M |
| Other Financing Activities | -31.75M | -27.77M | -32.52M | -15.11M | -25.03M | 63.68M |
| Miscellaneous Cash Flow Adjustments | -80.00K | |||||
| Net Cash Flow | -119.50M | 68.58M | -97.39M | 144.96M | -136.52M | 11.61M |
| Levered Free Cash Flow | 160.38M | 178.10M | 258.62M | 220.87M | 109.43M | 176.42M |
| Unlevered Free Cash Flow | 194.07M | 217.42M | 300.17M | 249.86M | 137.81M | 205.62M |
| Cash Interest Paid | 54.81M | 60.41M | 66.70M | 51.76M | 48.67M | 44.23M |
| Cash Income Tax Paid | 861.00K | 923.00K | 274.00K | 951.00K | 1.26M | 1.57M |
| Change in Working Capital | -5.12M | -5.12M | 7.69M | 6.12M | -251.00K | 11.19M |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 3.61B | 2.93B | 2.39B | 2.90B | 2.76B | 4.42B |
| Enterprise Value | 4.85B | 4.31B | 4.04B | 4.49B | 4.49B | 5.95B |
| Last Close Price | 61.18 | 48.21 | 37.15 | 42.79 | 41.02 | 61.19 |
| Price/FFO Ratio | 20.36 | 16.34 | 10.90 | 12.23 | 10.26 | 17.00 |
| Price/AFFO Ratio | 18.43 | 15.31 | 11.61 | 12.23 | 12.20 | 17.51 |
| PE Ratio | 31.38 | 27.55 | 63.06 | 121.65 | 25.75 | 11.75 |
| PS Ratio | 10.26 | 8.38 | 6.67 | 8.53 | 8.60 | 12.84 |
| PB Ratio | 1.86 | 1.43 | 1.13 | 1.28 | 1.16 | 1.90 |
| P/OCF Ratio | 19.31 | 15.54 | 11.32 | 13.86 | 14.22 | 20.05 |
| EV/Sales Ratio | 13.80 | 12.32 | 11.27 | 13.18 | 13.98 | 17.31 |
| EV/EBITDA Ratio | 20.49 | 18.00 | 15.98 | 18.04 | 19.86 | 22.58 |
| EV/EBIT Ratio | 96.45 | 88.06 | 62.55 | 72.06 | 104.91 | 70.80 |
| Debt / Equity Ratio | 0.66 | 0.66 | 0.75 | 0.79 | 0.63 | 0.66 |
| Debt / EBITDA Ratio | 5.64 | 5.60 | 6.21 | 7.14 | 6.63 | 5.78 |
| Net Debt / Equity Ratio | 0.61 | 0.58 | 0.70 | 0.70 | 0.60 | 0.58 |
| Net Debt / EBITDA Ratio | 5.25 | 4.96 | 5.88 | 6.40 | 6.38 | 5.09 |
| Asset Turnover | 0.10 | 0.10 | 0.09 | 0.08 | 0.08 | 0.09 |
| Quick Ratio | 2.22 | 2.30 | 1.74 | 1.13 | 1.68 | 2.03 |
| Current Ratio | 2.22 | 2.30 | 1.75 | 1.16 | 2.22 | 2.68 |
| Return on Equity (ROE) | 5.85% | 5.64% | 1.95% | 1.54% | 4.93% | 17.85% |
| Return on Assets (ROA) | 0.87% | 0.83% | 1.00% | 0.94% | 0.66% | 1.40% |
| Return on Invested Capital (ROIC) | 1.49% | 1.37% | 1.66% | 1.54% | 1.09% | 2.31% |
| Earnings Yield | 3.19% | 3.86% | 1.86% | 1.05% | 4.12% | 8.66% |
| Dividend Yield | 3.43% | 5.49% | 6.46% | 5.10% | 5.12% | 2.84% |
| Payout Ratio | 107.70% | 145.17% | 355.14% | 500.06% | 125.20% | 33.54% |
| Buyback Yield / Dilution | -0.16% | -0.43% | -0.13% | -3.09% | 1.70% | -7.16% |
| Total Shareholder Return | 3.28% | 5.05% | 6.34% | 2.02% | 6.83% | -4.31% |