Lexington Realty Trust Sends Letter to Shareholders

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Lexington Realty Trust Sends Letter to Shareholders

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.

• It is the face of the company and the first impression that customers have of the brand.
• Readers should not rely on forward-looking statements since they involve known and unknown risks, uncertainties and other factors which are, in some cases, beyond our control and which could materially affect actual results, performances or achievements.
• In this highly competitive landscape, businesses must find ways to stand out and differentiate themselves from the competition.
• 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.

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.

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Lexington now estimates that its net income attributable to common shareholders for the year ended December 31, 2021 will be within an expected range of $0.65 to $0.68 per diluted common share. For the quarter ended June 30, 2021, Dogs of the dow 2023 total gross revenues were $81.5 million, compared with total gross revenues of $81.8 million for the quarter ended June 30, 2020. The slight decrease is primarily attributable to property sales, partially offset by acquisitions.

• Lexington Realty Capital DBA The Beverly Group is a Los Angeles and New York City real estate developer, founded by Jeffrey Schleider, with a focus on multifamily and mixed use properties.
• Prices and returns on equities are listed without consideration of fees, commissions, taxes, penalties, or interest payable due to purchasing, holding, or selling.
• The Sharpe ratio shows whether the portfolio’s excess returns are due to smart investment decisions or a result of taking a higher risk.
• Lexington Realty Trust is a publicly traded REIT focused on single-tenant industrial real estate investments across the United States.

Prices and returns on equities are listed without consideration of fees, commissions, taxes, penalties, or interest payable due to purchasing, holding, or selling. The table displays the monthly dividend distributions for Lexington Realty Trust. The dividends shown in the table have been adjusted to account for any splits that may have occurred.

Lexington Realty Trust Rebrands and Changes Name to LXP Industrial Trust

Lexington Realty Trust is a publicly traded REIT focused on single-tenant industrial real estate investments across the United States. Lexington seeks to expand its industrial portfolio through acquisitions, build-to-suit transactions, sale-leaseback transactions, development projects and other transactions. Lexington presents FFO available to common shareholders and unitholders – basic and also presents FFO available to all equityholders and unitholders – diluted on a company-wide basis as if all securities that are convertible, at the holder’s option, into Lexington’s common shares, are converted at the beginning of the period. Lexington also presents Adjusted Company FFO available to all equityholders and unitholders – diluted which adjusts FFO available to all equityholders and unitholders – diluted for certain items which we believe are not indicative of the operating results of Lexington’s real estate portfolio. Lexington believes this is an appropriate presentation as it is frequently requested by security analysts, investors and other interested parties.

Since others do not calculate these measures in a similar fashion, these measures may not be comparable to similarly titled measures as reported by others. These measures should not be considered as an alternative to net income as an indicator of Lexington’s operating performance or as an alternative to cash flow as a measure of liquidity. Lexington will not initially receive any proceeds from the sale of common shares by the forward purchasers or their affiliates in the offering. Lexington intends to use the net proceeds, if any, it receives upon the future settlement of the forward sale agreements for working capital and general corporate purposes, including, without limitation, to fund its ongoing and future development projects. Pending the application of such net proceeds, Lexington may repay future amounts outstanding under its unsecured credit facility, which amounts may be re-borrowed from time to time. 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.

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All interests in properties and loans are held, and all property operating activities are conducted, through special purpose entities, which are separate and distinct legal entities that maintain separate books and records, but in some instances are consolidated for financial statement purposes and/or disregarded for income tax purposes. The assets and credit of each special purpose entity with a property subject to a mortgage loan are not available to creditors to satisfy the debt and other obligations of any other person, including any other special purpose entity or affiliate. In the real estate industry, symbols play a crucial role in establishing a brand’s identity and creating a sense of trust and reliability. A well-designed symbol can help a real estate company stand out in a crowded market and communicate its values and mission in a compelling way. A symbol that reflects a company’s commitment to quality, innovation, and customer service can help build a strong brand that resonates with customers and creates long-term loyalty. This website does not constitute an offer to purchase any real estate properties.

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.

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Forward-Looking Statements This press release contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. We intend such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995 and include this statement for purposes of complying with these safe harbor provisions. Forward-looking statements, which are based on certain assumptions and describe our future plans, strategies and expectations, are generally identifiable by use of the words “believes,” “expects,” “intends,” “anticipates,” “estimates,” “projects,” “may,” “plans,” “predicts,” “will,” “will likely result” or similar expressions. Readers should not rely on forward-looking statements since they involve known and unknown risks, uncertainties and other factors which are, in some cases, beyond our control and which could materially affect actual results, performances or achievements. As a result of undertaking a transition to industrial, there have been short-term costs, in particular to our earnings and Funds from Operations (FFO) growth, which have been impacted by the sale of non-core assets at higher capitalization rates and the redeployment of proceeds into higher-quality, higher-growth industrial properties.

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.

Lexington Realty Trust

They can evoke emotions, create associations, and establish a connection with customers. The current Lexington Realty Trust volatility is 5.50%, representing the average percentage change in the investments’s value, either up or down over the past month. J.P. Morgan Securities LLC, Wells Fargo Securities, LLC, BofA Securities, Inc., KeyBanc Capital Markets Inc., PNC Capital Markets LLC, Regions Securities LLC, TD Securities (USA) LLC and U.S. Bancorp Investments, Inc. are acting as joint book-running managers of the offering and Mizuho Securities USA LLC, Stifel, Nicolaus & Company, Incorporated, Truist Securities, Inc., FHN Financial Securities Corp. and Samuel A. Ramirez & Company, Inc. are acting as co-managers of the offering. The offering is subject to the satisfaction of customary closing conditions and is expected to close on August 30, 2021.