LXP Industrial Trust sold two vacant projects for $175 million, exceeding book value, with proceeds supporting debt repayment.
Quiver AI Summary
LXP Industrial Trust, a real estate investment trust focused on Class A warehouse and distribution properties, announced the sale of two vacant development projects in Ocala, Florida, and Indianapolis, Indiana, totaling 2,138,640 square feet for $175 million. The sale, which closed on September 30, 2025, generated a 20% premium over the properties' gross book value as of June 30, 2025. LXP expects to receive approximately $151 million in net proceeds after costs, which will be allocated for debt repayment and other corporate purposes. The company aims to expand its investment portfolio through various strategic methods.
Potential Positives
- The sale of two vacant development projects generated an aggregate gross price of $175 million, demonstrating the company's ability to capitalize on its assets.
- The gross sale price represents a 20% premium to the gross book value of the properties, indicating effective management and valuation strategies.
- LXP expects to receive approximately $151 million in net proceeds from the sale, which will bolster its liquidity for debt repayment and other corporate purposes.
- The transaction supports LXP's strategic objectives in the Class A warehouse and distribution sector, indicating a strong operational focus.
Potential Negatives
- The sale of the two vacant development projects may indicate a lack of confidence in the company’s ability to develop and lease these properties effectively, raising concerns about its future growth potential.
- Selling properties at a premium to book value could suggest that LXP was unable to capitalize on the full potential of these assets, which may reflect negatively on its management strategy.
- The reliance on sale proceeds for debt repayment may signal potential liquidity issues or elevated leverage, which can concern investors regarding the company’s financial stability.
FAQ
What properties did LXP Industrial Trust sell?
LXP sold two vacant development projects in Ocala, Florida, and Indianapolis, Indiana, totaling 2,138,640 square feet.
What was the sale price of the properties?
The aggregate gross price for the properties was $175 million.
How does the sale price compare to its book value?
The sale price represents a 20% premium, or $29 million, over the gross book value as of June 30, 2025.
What will LXP do with the net proceeds from the sale?
LXP plans to use the net proceeds for debt repayment and other general corporate purposes.
Where can I find more information about LXP Industrial Trust?
More information can be found on LXP's website at www.lxp.com and their investor relations page.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
$LXP Congressional Stock Trading
Members of Congress have traded $LXP stock 2 times in the past 6 months. Of those trades, 1 have been purchases and 1 have been sales.
Here’s a breakdown of recent trading of $LXP stock by members of Congress over the last 6 months:
- REPRESENTATIVE LISA C. MCCLAIN has traded it 2 times. They made 1 purchase worth up to $15,000 on 06/09 and 1 sale worth up to $15,000 on 06/10.
To track congressional stock trading, check out Quiver Quantitative's congressional trading dashboard.
$LXP Hedge Fund Activity
We have seen 181 institutional investors add shares of $LXP stock to their portfolio, and 136 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- FMR LLC removed 4,697,471 shares (-60.2%) from their portfolio in Q2 2025, for an estimated $38,801,110
- BALYASNY ASSET MANAGEMENT L.P. added 4,688,972 shares (+269.0%) to their portfolio in Q2 2025, for an estimated $38,730,908
- LASALLE INVESTMENT MANAGEMENT SECURITIES LLC added 2,822,835 shares (+44.4%) to their portfolio in Q2 2025, for an estimated $23,316,617
- NORGES BANK added 2,101,322 shares (+42.5%) to their portfolio in Q2 2025, for an estimated $17,356,919
- BLACKROCK, INC. removed 1,809,436 shares (-3.5%) from their portfolio in Q2 2025, for an estimated $14,945,941
- QUBE RESEARCH & TECHNOLOGIES LTD added 1,501,010 shares (+359.3%) to their portfolio in Q2 2025, for an estimated $12,398,342
- CENTERSQUARE INVESTMENT MANAGEMENT LLC removed 1,265,470 shares (-29.6%) from their portfolio in Q2 2025, for an estimated $10,452,782
To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.
$LXP Analyst Ratings
Wall Street analysts have issued reports on $LXP in the last several months. We have seen 1 firms issue buy ratings on the stock, and 0 firms issue sell ratings.
Here are some recent analyst ratings:
- Keybanc issued a "Overweight" rating on 05/02/2025
To track analyst ratings and price targets for $LXP, check out Quiver Quantitative's $LXP forecast page.
Full Release
WEST PALM BEACH, Fla., Oct. 01, 2025 (GLOBE NEWSWIRE) -- LXP Industrial Trust (“LXP”) (NYSE:LXP), a real estate investment trust focused on Class A warehouse and distribution real estate investments, today announced the sale of two vacant development projects, totaling 2,138,640 square feet, located in Ocala, Florida and Indianapolis, Indiana for an aggregate gross price of $175 million. The closing of the sale occurred on September 30, 2025.
The gross sale price represents a 20% premium, or $29 million, to the gross book value of the properties as of June 30, 2025. LXP expects to receive net proceeds of approximately $151 million after deducting minority partner distributions and transaction costs. Net proceeds from the sale will be used for debt repayment and other general corporate purposes.
Please visit https://ir.lxp.com/events-and-presentations/presentations for more details on the transaction.
ABOUT LXP INDUSTRIAL TRUST
LXP Industrial Trust (NYSE: LXP) is a publicly traded real estate investment trust (REIT) focused on Class A warehouse and distribution investments in 12 target markets across the Sunbelt and lower Midwest. LXP seeks to expand its warehouse and distribution portfolio through acquisitions, build-to-suit transactions, sale-leaseback transactions, development projects and other transactions. For more information, including LXP's Quarterly Supplemental Information package, or to follow LXP on social media, visit www.lxp.com.
Contact:
Investor or Media Inquiries for LXP Industrial Trust:
Heather Gentry, Executive Vice President of Investor Relations
LXP Industrial Trust
Phone: (212) 692-7200 E-mail: [email protected]
This 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. All statements other than statements of historical facts included in this press release are forward-looking statements, including, but not limited to, statements regarding the use of proceeds from the sale. Such forward-looking statements involve known and unknown risks, uncertainties and other factors not under LXP's control which may cause actual results, performance or achievements of LXP to be materially different from the results, performance, or other expectations implied by these forward-looking statements. These factors include, but are not limited to, those factors and risks detailed in LXP's periodic filings with the SEC. Except as required by law, LXP undertakes no obligation to publicly release the results of any revisions to those forward-looking statements which may be made to reflect events or circumstances after the occurrence of unanticipated events.
