LXP Industrial Trust Raises FFO Guidance, Acquires $103M Phoenix Site Amid Strong Leasing
Summary
LXP Industrial Trust raised its 2026 Adjusted Company FFO guidance to $3.30–$3.40 per diluted share, an increase from the previous $3.22–$3.37 range. This positive revision follows the acquisition of a 37-acre Phoenix site for $103 million, which is projected to generate $16.1 million in annual cash rent. The company also reported strong Q2 leasing activity, securing 2.7 million square feet of new and renewal leases with average cash base rent increases of 22% on second-generation leases. This news, reported shortly after the related 8-K filing, indicates robust operational performance and a strengthened financial outlook for the REIT.
At the time of this announcement, LXP was trading at $50.21 on NYSE in the Real Estate & Construction sector, with a market capitalization of approximately $3B. The 52-week trading range was $38.20 to $53.16. This news item was assessed with positive market sentiment and an importance score of 8 out of 10. Source: Wiseek News.