Company: LXP
Filing Date: 2025-07-30
Form Type: 10-Q
Source: 0000910108-25-000041
Chunk: 100

Company: LXP Industrial Trust
Filing Date: 2025-07-30
Form: 10-Q
Item: Item 8
Chunk 100
---
urchase of an additional 10.0 million common shares under our share repurchase program with no expiration date. We did not repurchase any common shares during the six months ended June 30, 2025 and 2024. At June 30, 2025, 6.9 million common shares remained available for repurchase under this authorization. 

From time to time, we may repurchase certain of our outstanding debt securities, including our Trust Preferred Securities, in negotiated and/or market 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. 

27

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