LXP Industrial Trust, known by its ticker symbol LXP, is a real estate investment trust (REIT) that primarily focuses on acquiring, owning, and managing a diverse portfolio of industrial properties in the US. Based in New York, LXP was initially incorporated in 1973 and has been publicly traded since 1993. This REIT started as Lexington Corporate Properties Trust, and in latter years, they opted for a more focused strategy in industrial properties, leading to a rebranding in 2017 as LXP Industrial Trust.
LXP's portfolio primarily consists of warehouse/distribution centers, light manufacturing facilities, and R&D facilities, with key markets in cities such as Dallas, Chicago, Houston, and Atlanta. LXP seeks out single-tenant properties where it can create a triple net lease, meaning the tenant is responsible for all property-related costs. This strategy helps minimize overhead of the property for LXP, ensuring a stable source of rental income.
LXP Industrial Trust is dedicated to delivering strong shareholder returns by ensuring consistent rental income and capital appreciation from its portfolio properties. LXP uses its in-depth knowledge of industrial real estate, strong tenant relationships, and rigorous analytical approach to identify and capitalize on property investment opportunities.
As a REIT, LXP ensures that 90% of its taxable income is annually distributed to shareholders as dividends, providing an attractive yield for investors, especially those seeking regular income flows.
The company operates in over 20 states and its diverse tenant roster includes corporate giants of various industries such as Amazon, FedEx, PepsiCo, international paper, etc. Its portfolio consists of approximately 250 properties totaling over 65 million square feet.
LXP has also demonstrated a commitment to sustainable practices in its operations. Notably, the REIT is part of the United Nations Global Compact – the world's largest corporate sustainability initiative. This indicts their commitment to align their strategies and operations with universal principles on human rights, labor, environment, and anti-corruption.
In summary, LXP Industrial Trust is a strategic and conscientious player in the American industrial property market, offering stable returns to shareholders while maintaining a commitment to sustainable business practices.