Since 1993, Lexington Realty Trust (NYSE: LXP) has been a market leader in acquiring, owning, and operating high-qualitysingle-tenant commercial properties in the United States. We seek to generate superior risk-adjusted returns through purchasing and developing premium industrial real estate in key U.S. logistics markets with high growth potential.
Lexington Realty Trust had an outstanding 2020, delivering excellent results across our respective business lines. While the year brought unexpected uncertainty due to Covid-19, our portfolio and our operations each proved exceptionally resilient. Successful execution of our business plan in 2020 moved us closer to our goal of becoming a 100% industrial REIT. Notable highlights from 2020 that added to our overall success included:
Attractive Portfolio Composition - Increased industrial exposure to 91% of overall portfolio1
Strong Asset Growth - Purchased $612 million of high-quality industrial assets in target growth markets and invested $60 million in new development projects
Focused Capital Recycling Strategy- Disposed of $433 million of primarilynon-coreassets
Resilient Portfolio Operations- Collected 99.8% of Cash Base rents and leased 5.2 million square feet
M E N U
2020 Notable Highlights
INDUSTRIAL PROPERTIES ACQUIRED
INDUSTRIAL DEVELOPMENT FUNDED
INDUSTRIAL EXPOSURE 1
SQUARE FEET LEASED
Opportunistic Capital Markets Activity- Raised $225 million of equity and issued $400 million of bonds
Impeccable Balance Sheet - Low leverage of 4.8x Net Debt to Adjusted EBITDA and strong cash position at year-end
Consistent Dividend Growth - Increased annualized dividend/ distribution 2.4% to $0.43 per diluted common share
Increased ESG Efforts2 - Continued building out ESG platform and increased disclosure related to ESG
High-Quality Industrial Portfolio Has Emerged1
ANNUALIZED DIVIDEND INCREASE
1Based on gross book value of consolidated real estate assets, excluding held for sale assets, as of 12/31/2020. 2ESG - Environmental, Social, and Governance.
Lexington Realty Trust published this content on 08 April 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 08 April 2021 21:11:02 UTC.