Q4 2025 LXP Industrial Trust Earnings Call Transcript

Feb 12, 2026 / 01:30 PM GMT

Release Date Price: $48.25 (-6.42%)

Transcript 8-K10-K

Key Points

Positve

LXP Industrial Trust (LXP) successfully reduced leverage from 5.9 times to 4.9 times net debt to adjusted EBITDA.
Occupancy increased by 350 basis points to 97.1%, reflecting strong leasing performance.
The company leased nearly 5 million square feet in 2025, achieving a 28% cash basis mark to market outcome.
LXP exited 5 non-target markets, focusing investments on 12 target markets, which now account for 87% of gross book value.
The development program has been successful, with 98% of projects leased or sold and a weighted average stabilized yield of 7.1% on first-generation leases.

Negative

Cash balances are currently weighing on earnings, despite providing liquidity for future opportunities.
Same store NOI growth was flat in the fourth quarter, with full-year growth slightly below expectations at 2.9%.
The company anticipates lower occupancy and higher rent concessions impacting 2026 same store NOI growth.
There are known move-outs in 2026, including a 230,000 square foot facility in Tampa, which is expected to remain vacant for the year.
Fixed rate renewals have put a drag on rental spreads, with some leases renewing at lower than market rates.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

LXP.N - LXP Industrial Trust
Q4 2025 LXP Industrial Trust Earnings Call
Feb 12, 2026 / 01:30PM GMT

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Presentation
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Unidentified_1 [1]
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Thank you for standing by. My name is Rebecca, and I will be your conference operator today. At this time, I would like to welcome everyone to the LXP Industrial Trust 4th Quarter 2025 earnings call and webcast. All lines have been placed on mute to prevent any background noise after the speaker's. Marks, there will be a question-and-answer session. If you would like to ask a question during this time, simply press star, followed by the number one on your telephone keypad. If you would like to withdraw your question, press one again.

Thank you. I would now like to turn the call over to Heather Gentry, Investor relations.

Please go ahead.

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