Company: LXP
Filing Date: 2025-05-01
Form Type: 10-Q
Source: 0000910108-25-000020
Chunk: 5

Company: LXP Industrial Trust
Filing Date: 2025-05-01
Form: 10-Q
Item: Item 1
Chunk 5
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:  Series C Cumulative Convertible Preferred, liquidation preference $96,770; 1,935,400 shares issued and outstanding94,016 94,016 Common shares, par value $0.0001 per share; authorized 600,000,000 shares, 295,728,056 and 294,499,790 shares issued and outstanding in 2025 and 2024, respectively30 29 Additional paid-in-capital3,317,057 3,315,104 Accumulated distributions in excess of net income(1,339,223)(1,316,993)Accumulated other comprehensive income2,926 6,136 Total shareholders’ equity2,074,806 2,098,292 Noncontrolling interests22,048 22,491 Total equity2,096,854 2,120,783 Total liabilities and equity$3,759,514 $3,843,312 

The accompanying notes are an integral part of these unaudited condensed consolidated financial statements.

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Table of Content

LXP INDUSTRIAL TRUST AND CONSOLIDATED SUBSIDIARIES

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

(Unaudited and in thousands, except share and per share data)

Three Months Ended March 31, 20252024Gross revenues:  Rental revenue$87,893 $85,207 Other revenue970 1,044 Total gross revenues88,863 86,251 Expense applicable to revenues:  Depreciation and amortization(50,512)(47,509)Property operating(17,129)(15,188)General and administrative(10,390)(9,493)Non-operating income520 3,769 Interest and amortization expense(16,280)(16,984)Loss on debt satisfaction(350)— Change in allowance for credit loss— 5 Gain on sale of real estate24,635 — Income before provision for income taxes and equity in losses of non-consolidated entities19,357 851 Provision for income taxes(215)(125)Equity in losses of non-consolidated entities(980)(1,281)Net income (loss)18,162 (555)Less net loss attributable to noncontrolling interests816 286 Net income (loss) attributable to LXP Industrial Trust shareholders18,978 (269)Div