Company: LXP
Filing Date: 2025-07-30
Form Type: 10-Q
Source: 0000910108-25-000041
Chunk: 49

Company: LXP Industrial Trust
Filing Date: 2025-07-30
Form: 10-Q
Item: Item 1
Chunk 49
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 transactions. During the six months ended June 30, 2025, we repurchased $28.1 million of our Trust Preferred Securities at a 5.0% discount to par value.

Dividends. Dividends paid to our common and preferred shareholders were $82.1 million and $79.1 million in the six months ended June 30, 2025 and 2024, respectively. 

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We declared a quarterly dividend of $0.135 per common share during the three months ended June 30, 2025, which is an increase of $0.005 per common share from the $0.13 per common share quarterly dividend declared during the three months ended June 30, 2024.

Financings. The following presents our outstanding unsecured debt obligations as of June 30, 2025:

June 30, 2025Interest RateMaturity DateIssue PriceTerm Loan$250.0 SOFR + 1.10%(1)(2)January 2027— 2023 Senior Notes300.0 6.750 %November 202899.423 %2020 Senior Notes400.0 2.700 %September 203099.233 %2021 Senior Notes400.0 2.375 %October 203199.758 %Trust Preferred Securities 101.0  Three Month SOFR + 1.96%(3)(4)April 2037— Total unsecured debt$1,451.0 

(1)    Spread includes a 0.10% daily SOFR adjustment. 

(2)    Repaid $50.0 million of the Term Loan, resulting in a loss on debt satisfaction of $0.4 million. The SOFR portion of the interest rate was swapped to 4.31% per annum until January 31, 2027. 

(3)    Interest rate spread contains a 0.26% SOFR adjustment plus a spread of 1.70% through maturity. $82.5 million is swapped at an average interest rate of 5.20% from October 30, 2024 to October 30, 2027. As of June 30, 2025, the weighted average interest rate of the Trust Preferred Securities was 5.39%, which includes the effect of the interest rate swaps.

(4)    During the quarter ended June 30, 2025