LXP Industrial Trust Reports Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2023
February 15, 2024 at 06:00 am EST
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LXP Industrial Trust reported earnings results for the fourth quarter and full year ended December 31, 2023. For the fourth quarter, the company reported sales was USD 81.89 million compared to USD 79.24 million a year ago. Revenue was USD 82.96 million compared to USD 81.1 million a year ago. Net income was USD 14.6 million compared to USD 38.47 million a year ago. Basic earnings per share from continuing operations was USD 0.04 compared to USD 0.13 a year ago. Diluted earnings per share from continuing operations was USD 0.04 compared to USD 0.13 a year ago.
For the full year, sales was USD 334.22 million compared to USD 313.99 million a year ago. Revenue was USD 340.5 million compared to USD 321.25 million a year ago. Net income was USD 30.38 million compared to USD 113.78 million a year ago. Basic earnings per share from continuing operations was USD 0.08 compared to USD 0.38 a year ago. Diluted earnings per share from continuing operations was USD 0.08 compared to USD 0.38 a year ago.
LXP Industrial Trust is a real estate investment trust focused on single-tenant industrial real estate investments across the United States. The Company invests in single-tenant warehouse/distribution real estate. The Company conducts its operations indirectly through property owner subsidiaries, which are single purpose entities; a wholly owned taxable REIT subsidiaries (TRS), Lexington Realty Advisors, Inc., and joint ventures. It has investments in the Lower Midwest and Sunbelt. The Company's warehouse/distribution portfolio includes various industries, such as electronic commerce, automotive, construction/materials, food, apparel, specialty, technology, retail department, aerospace/defense, healthcare, consumer products, transportation/logistics and others. It has ownership interests in approximately 115 consolidated real estate properties, located in 18 states and containing an aggregate of approximately 54.6 million square feet of space, approximately 99.8% of which is leased.
LXP INDUSTRIAL TRUST 
