LXP Industrial Trust reports Q3 adjusted FFO 18c, consensus 18c

Reports Q3 revenue $85.4m, consensus $85.62M. CEO T. Wilson Eglin commented, “We are pleased with our Q3 accomplishments, including the sale of the Philadelphia and New Jersey office assets and the execution of 300,000 square feet of additional leasing in our development portfolio. Year to date, we’ve executed 5.8 million square feet of new leases and extensions, increasing Base and Cash Base rents 51.1% and 33.3%, respectively, on non-development leasing adjusted for two fixed rate renewals. Our leasing team continues to deliver strong mark-to-market outcomes, that, together with higher average annual escalators on new leases, are driving robust same-store industrial NOI growth.”