Terms

Payment Frequency

Quarterly

Convertible

No

Tax Classification

Reit Passthrough

Qualifies for QDI

No

Qualifies for DRD

No

Shares Offered

5,000,000

Prospectus Summary

This filing is not a preferred stock offering. LXP Industrial Trust (NYSE: LXP), a self-managed REIT focused on single-tenant industrial/warehouse properties, is registering 5,000,000 common shares of beneficial interest (par value $0.0001) for issuance under its Amended and Restated Dividend Reinvestment and Direct Share Purchase Plan. The offering allows existing shareholders to reinvest quarterly dividends and make optional cash purchases of common shares. There is no liquidation preference, fixed coupon, or call date, as these are common equity shares. Common dividends are discretionary and non-cumulative by nature. As common shares, these securities sit at the very bottom of LXP Industrial Trust's capital structure — junior to all of the company's debt obligations (including any senior and subordinated notes) and junior to the company's outstanding 6.50% Series C Cumulative Convertible Preferred Stock (NYSE: LXPPRC). As a Maryland REIT holding company, common shareholders bear maximum residual risk. There are no regulatory capital provisions applicable to common shares, and no structural subordination concerns unique to this filing beyond standard equity subordination. Dividends on LXP common shares are paid quarterly, expected in January, April, July, and October, with the record date generally falling on the last business day of the month preceding payment. As a REIT, distributions are primarily classified as ordinary income (not qualified dividend income eligible for the 15%/20% preferential rate) unless designated otherwise; corporate holders cannot apply the dividends-received deduction. The last reported common share price was $8.75 (February 15, 2024); no fixed yield applies. Dividend reinvestment under the plan is a taxable event in the year received, creating potential tax liability without cash distribution to the participant.

Summarized from the SEC prospectus filing.

Distribution History

Other Preferreds from LXP Industrial Trust

Div Score Breakdown

Reinvesty's multi-factor safety analysis for this preferred, composite score: 54 (Average)