lexington realty trust investor relations

One Penn Plaza, Suite 4015 New York, NY 10119-4015 Tel: (212) 692-7200 So an asset in Atlanta, like our project in Atlanta would be certainly below a four. Essentially, when you purchased those assets, you issued OPs as part of that, so the selling of those assets is just essentially kind of the reversal of those OPs. Except as required by law, Lexington does not undertake a duty to update any forward-looking statements. Press release content from Globe Newswire. Mona Manucom Investor Relations/ Accounting at Lexington Realty Trust New York, New York, United States 4 connections Please visit our website or contact Heather Gentry, if you would like to receive our quarterly materials. It's very difficult to move manufacturing facilities and often occupancy, as I said is sticky for a long period of time and in a rent negotiation with the tenant that doesn't have upgrade option. Found inside – Page 1389525930 Lexington ISS Holdings ( 1 ) 1 Penn Plaza ste 4015 New York , NY 10119 Tel .: ( 212 ) 692-7200 Fax : ( 212 ) 694-6600 Real Estate Investment Trust ... If it's a renewal, it should be flat to a little bit of an increase. Good morning. Market absorption in the Atlanta industrial market in 2020 exceeded total absorption in both 2018 and 2019 and remains market with high user demand. That's often a good outcome for landlord. But that was short of the market average. It feels like it's kind of -- I feel like maybe earlier in the year, the expectation was for somewhere, if I'm remembering correctly, $15 million or so on potential spend? There's a handful of cases where we have building sort of outside of our regional market footprint that we might look at as opportunities to turn those into liquidity and right in the context of how we're shaping the portfolio longer term, but I don't think that, that would be a heavy amount of disposition activity in terms of aggregate dollars. Contact: Investor or Media Inquiries for Lexington Realty Trust: Heather Gentry, Senior Vice President of Investor Relations. Lexington Realty Trust (NYSE:LXP) is a real estate investment trust (REIT) that owns a diversified real estate portfolio of equity investments in single-tenant commercial properties across the United States. We were pleased that pre-lease for full building prior to completion at an attractive development yield, with anticipated stabilized GAAP and cash cap rates of 7.8% and 7.6% respectively. The remaining office and other asset portfolio consists of 18 properties, which generated 2020 NOI of approximately $33.5 million. Craig Mailman -- KeyBanc Capital Markets -- Analyst. Found inside – Page 568... SHOPPING CENTER New Plan Excel Realty Trust , Inc. ( NXL ) 420 Lexington ... http://www.newplan.com Corporate Profile Investment Focus Equity Property ... We're probably -- have 10-year financing cost of $2.25. So, I know there is still some work to do on the office disposition side of things, but as we think of longer-term about the next leg of the capital recycling strategy, is this new to sell assets out of the heavy and light manufacturing bucket? The yields would vary depending on the project, but generally targeting development yields in the range of between 5.25% and 6%, and hopefully there is some conservatism there. So it's presented as a gross basis on the income statement. But those assets have long lease duration and they throw off a lot of free cash flow and that's right, providing an opportunity for us to reinvest a lot of that cash flow to support our growth plan. Lexington Realty Trust shareholders gained a total return of 16% during the year. So directionally, everything is going extremely well. Well, I think, Craig, you just have to start with the escalations. Nareit Members Showcase Sustainability Efforts for Earth Day, REITworks Panel Discusses Governance Issues Across Sectors. We've been adding smaller facilities to the portfolio and we would add assets with two or three tenants in them. We're excited to further expand our footprint in this market with this 234 acre site that is also located in the Smith Farms Industrial Park. For more information or to follow Lexington on social media, visit www.lxp.com. Leasing continues to be a particularly bright spot for us and is further evidence of the quality of our industrial portfolio and strong fundamentals in the industrial sector. Callers outside the United States and Canada may dial (404) 537-3406 with passcode . Found inside – Page 3200The actual fact is that the productive property of this country is owned by ... and an unknown number of small pension and trust funds , or directly through ... Additionally, the market's strategic location allows for ease of access to both the Port of Charleston and the Port of Savannah and is within two hours of the major metropolitan markets of Atlanta and Charlotte. But it's not tied to any particular asset. With that, I'll turn the call over to Beth to discuss financial results. Heather Gentry-- Senior Vice President, Investor Relations. Found inside – Page 5LXP LEXINGTON REALTY TRUST You now have the right - of - way to higher yields – Lexington Realty Trust . We are a leading investor in commercial properties ... Pricing continues to be very competitive. Lexington Realty Trust is a real estate investment trust that owns, invests in, and manages office, industrial and retail properties net-leased to major corporations throughout the United States and provides investment advisory and asset management services to investors in the net lease area. We understand that industrial as an asset classes is extremely hot and we're not averse to doing something more significant in that space if it's good for the company. 13.42 +0.23. Our next question comes from John Massocca with Landenburg Thalmann. Lexington Realty Trust Reit (NYSE:LXP)Q2 2021 Earnings CallAug 5, 2021, 8:30 a.m. T. Wilson Eglin -- Chairman, Chief Executive Officer and President. Got it. Contact:Investor or Media Inquiries for Lexington Realty Trust:Heather Gentry, Senior Vice President of Investor . Industrial same-store NOI increased 1.7% and would have been three percent, excluding single-tenant vacancy. Hey, good morning. Brendan P. Mullinix -- EXECUTIVE VICE PRESIDENT, CHIEF INVESTMENT OFFICER. The following ratings were affirmed: Lexington Realty Trust -- Issuer rating at Baa2; senior unsecured debt at Baa2 Outlook Actions: Issuers: Lexington Realty Trust Found inside – Page 4As regards the “property device,” imperial policy saw the need to create a form ... would best meet the need for security for landholder and investor alike. Our consolidated debt outstanding was approximately $1.5 billion with a weighted average interest rate of approximately 3.1% and a weighted average term of six years. So it was an older facility, which had some obsolescence and further obsolescence risk in it. Found inside – Page 24THANK YOU PUBLIC & INVESTOR RELATIONS WORKSHOP DIRECTORS Freddye Kelly , Director of Corporate Communications , Weingarten Realty Investors Tom Lewis ... Do they get a fee or just explain to us, how it works? We didn't. It's about that really. Discounted offers are only available to new members. This increase was primarily attributable to new acquisitions, partially offset by sales. National Association of Real Estate Investment Trusts® and Nareit® are registered trademarks of the National Association of Real Estate Investment Trusts (Nareit). Sure. Okay. And then just my only other question is, I think, it was either last quarter, maybe perhaps one before, you mentioned that your 2022 should really be the earnings trough, as you clear out the last of the non-core stuff. In addition, as always, we hope you'll feel free to reach out to any one of us in our senior management team with any questions. It's a matter of timing, really, as to when projects are getting done. And can you remind us if there -- I think there were other development opportunities at that site? It hasn't been one single item, and so some components moderate and even pull back, but overall, we still see cost pressures, which sounds negative, but again, I'll say that at the same time, we've seen healthy rent growth. lexington realty trust. I mean I think the way we've been looking at it is we've been OK issuing some equity to fund development, where we have both the best opportunity to produce high AFFO and growth and where, we're making a good net asset value trade, where upon stabilization, there's a lot of spread compression in what we own. We appreciate everyone joining us this morning. In the earnings press release and quarterly supplemental disclosure package, Lexington has reconciled all non-GAAP financial measures to the most directly comparable GAAP measure. Have you seen any change in demand from potential office buyers given some of the interest rate volatility? 1-202-739-9400 So the value is still compelling even with increased cost. It's been a very, very good business for us. On a -- kind of as you look out longer term, what do you think the growth potential is internally from the industrial portfolio? Investor Relations Corporate Profile We are a leading online-to-offline (O2O) real estate services provider in China. How they're utilizing it? So at the end of January, they will be out in 2022. Postal Realty Trust, Inc. to Present at the Janney Montgomery Scott Virtual Real Estate & Lodging Conference on May 25, 2021 and Nareit's REITweek: 2021 Investor Conference on June 9, 2021 May 20, 2021 Lexington Realty Trust Announces Quarterly Dividend on Common Shares of $0.18 Per Share Payable 10% in Cash and 90% in Common Shares 6/03/2009 Lexington Realty Trust to Present at Investor Conference Lexington . And with respect to on-shoring I'll say whether maybe Brendan or James, you have a perspective on that in terms of what you're seeing? And on a lot of the new underwriting, I think in the context of four percent or five percent is very sensible. Additional information about Lexington is available on-line by contacting Lexington Realty Trust, Investor Relations, at www.lxp.com. Just kind of curious as you think going forward for your acquisition strategy, like what percent are you willing to, I guess, maybe do more value-add type deals, some stuck with some hair on it versus more stabilized income streams? Tags LXP reit LXPDividend . Thanks, Beth. [Operator Instructions]. Most of the opportunity set that we see at the moment is sort of in the kind of 3.5% to 4.5% area, so there's been quite a bit of cap rate compression, obviously, this year and sort of over the last 12 months. Throughout this transition, our investment strategy has targeted purchases, build-to-suits and select development opportunities in primarily warehouse and distribution assets in markets across the Sunbelt and lower Midwest. Thanks, Brendan. Operating performance measures of an individual investment are not intended to be viewed as presenting a numerical measure of Lexington's historical or future financial performance, financial position or cash flows. So the activity for assets with those characteristics has been intense and and buyer seem as eager as ever to put capital out for assets like that it continues to be kind of a tale to world and that buyers continue to struggle to underwrite impending vacancy and rollover. How do you think about the potential for growth, especially given your comments before and capex -- less capex this year, is 2.4% something that seems high or low? Brendan, do you want to jump in on that one? On the the on-shoring and near-shoring, that -- that factor will lag, right, because that will require some more manufacturing to on-shore into the U.S. REITs Outperform Private Equity Real Estate Funds. Please go ahead. The earnings release was distributed this morning and both the release and quarterly supplemental are available on our website in the Investors section and will be furnished to the SEC on a Form 8-K. Certain statements made during this conference call regarding future events and expected results may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Lexington Realty Trust (NYSE:LXP)Q4 2020 Earnings CallFeb 18, 2021, 8:30 a.m. So, I mean if we step back, if we spend a couple of hundred million dollars on development, it sounds like that might be a bit more than what you think you'll do on the acquisition side, but then you talked about these other assets that could be pretty high cap rate sales, I mean how should we think about that as you look out over the next couple of years? I will now turn the call over to the operator who will conduct the question-and-answer portion of the call. That is, as we approach these spec developments, we look at it from -- we kind of start with the demand side. Found inside – Page 228Real Estate Trust Account Committee , Realistic Education in Action Coalition ... Realistic Living , Bonham , Tx . Reading - Berks Human Relations Council ... Just a couple of quick more for me. That would be high. Questioning an investing thesis -- even one of our own -- helps us all think critically about investing and make decisions that help us become smarter, happier, and richer. I'm not sure who mentioned that you're has a stable of development partners. Found inside – Page 34LOCAL CHAPTER AAII Local Chapters INVESTMENT EDUCATION MEETINGS FOR INDIVIDUAL INVESTORS Santa Barbara Ventura Contact ... Lexington Realty Trust Contact ... Thanks. Our balance sheet remains exceptionally strong with leverage at a low 4.8 times net debt to adjusted EBITDA at year-end. On the capital markets front, during the quarter, we entered into contracts for the sale of 16 million common shares for initial settlement amount of approximately $194 million in a forward equity rate. Well, we would tend to be more conservative at the moment. And that will prove the shift in our underwriting over the last few years toward modern Class A warehouse and distribution properties in our target markets. While we expect to be active in the purchase market, we intend to allocate more capital to development opportunities in 2021 relative to 2020. So we were able to take out a year of carry, which is, which is built into our other forward underwriting. I think you had mentioned, either in the release or in your comments about spending more on development versus acquisitions. They were just selected to be part of this transaction that made sense for the value of the units that were being redeemed. In 2020, we began building-out an ESG platform for our operations. So I think a lot of supply will be slowed down in the market. Our focus remains on acquiring and developing well-located warehouse and distribution assets and disposing of our remaining non-core assets. Can you just may be a bit more specific on what you think the activity will now to this year? Corporate Profile . Is there anything you can share about what they do with the facility? Check Your Rate. You guys are, what, 2.4% now, and now you're kind of getting three percent on some of these. Please go ahead. Investor Relations Contact. As that portfolio shrinks, we'll be able to tighten up that gap and whatever the range of outcomes are. Our business continues to produce funds from operations well in excess of our dividend, and our net asset value per share is steadily growing as strong rent growth, increasing construction costs and attractive debt financing drive property values higher. So the first trench will be coming due this August, in a few weeks, so we'll be bringing those shares in at that point. Issuer: Lexington Realty Trust Debt Level: senior unsecured Issue: USD 250 mln 4.25% bond/note 15-Jun-2023 We understand the importance in doing so and have begun to establish a program that is appropriate for our portfolio given the limited control we have over many of our properties due to their net lease single-tenant nature. INVESTORS; SERVICES; PORTFOLIO; COMPANY; Home > Investor Relations > News & Events > Presentations Investor Relations. So it's -- in the past, we had a lot of net lease deals where the tenants would pay directly for operating expenses, and we would just get a tack for the rent. Thank you, operator. Moving to dispositions, during the quarter, we sold three properties for approximately $125 million. I think we've tended to be conservative when we've talked about the overall outcome on the office disposition effort. This concludes our question-and-answer session. And then the right way to think about the sales as you said high-single-digit or high-double -- sorry, low-double-digit cap rates versus? It started with steel and then it's roofing insulation materials, then it's stock package. And Brendan mentioned just the competitiveness in the market and cap rate compression. Our balance sheet remains strong with leverage at 4.9 times net debt to adjusted EBITDA at quarter end. One of them was vacant, one of them was only partially leased. lexington corporate properties trust. With one of our 2023 expirations, we just signed a 10.5 year lease with a new tenant at one of our warehouse distribution facilities in the Cincinnati market. Just on the exact amount as we lexington realty trust investor relations forward lease rollover by sales, during the Q & a of! To redeploy, maybe kind of dependent on the development stuff leases up was a failure continued to see the! 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