Business UpdateJun 1, 2026, 04:15 PM
LXP Industrial Raises 2026 Adj. FFO Guidance to $3.30-$3.40
AI Summary
LXP Industrial Trust increased its 2026 Adjusted Company FFO guidance range to $3.30-$3.40 per diluted common share, up from $3.22-$3.37. This update follows strong business activity, including the execution of 2.7 million square feet of new and renewal leases in the second quarter to date, with a 22% average cash base rental increase on second-generation leases. The company also acquired a 37-acre infill industrial redevelopment site in Phoenix for $103 million, which is currently fully leased and slated for future industrial redevelopment.
Key Highlights
- LXP Industrial raised 2026 Adjusted Company FFO guidance to $3.30-$3.40 per diluted common share.
- Executed 2.7 million square feet of new and renewal leases in Q2 to date.
- Achieved an average Cash Base rental increase of 22% on second-generation leases.
- Acquired a 37-acre industrial redevelopment site in Phoenix for $103 million.
- The Phoenix acquisition has an initial cash yield of 15.7% and GAAP yield of 14.4%.
- Phoenix property generates annual cash rent of $16.1 million with 2% annual escalations.
- Total leasing volume for the year reached 4.6 million square feet.
- 2026 Net income attributable to common shareholders estimated at $2.38-$2.48 per diluted common share.
Price Impact
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