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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
Gross revenues:        
Rental revenue $ 84,768 $ 85,065 $ 169,975 $ 168,482
Other revenue 1,018 1,985 2,062 3,643
Total gross revenues 85,786 87,050 172,037 172,125
Expense applicable to revenues:        
Depreciation and amortization (48,347) (45,993) (95,856) (91,734)
Property operating (15,482) (15,745) (30,670) (30,988)
General and administrative (9,248) (9,010) (18,741) (18,248)
Non-operating income 2,734 143 6,503 337
Interest and amortization expense (17,603) (10,144) (34,587) (21,537)
Transaction costs (498) 0 (498) (4)
Impairment charges 0 (12,967) 0 (16,490)
Change in allowance for credit loss (14) 110 (9) 31
Gains on sales of properties 8,352 0 8,352 7,879
Gain on change in control of a subsidiary 209 0 209 0
Income (loss) before provision for income taxes and equity in earnings (losses) of non-consolidated entities 5,889 (6,556) 6,740 1,371
Provision for income taxes (83) (210) (208) (426)
Equity in earnings (losses) of non-consolidated entities (1,005) (1,014) (2,286) 2,590
Net income (loss) 4,801 (7,780) 4,246 3,535
Less net (income) loss attributable to noncontrolling interests 625 (268) 911 (417)
Net income attributable to LXP Industrial Trust shareholders 5,426 (8,048) 5,157 3,118
Dividends attributable to preferred shares – Series C (1,573) (1,573) (3,145) (3,145)
Allocation to participating securities (78) (62) (168) (134)
Net income (loss) attributable to common shareholders $ 3,775 $ (9,683) $ 1,844 $ (161)
Net income (loss) attributable to common shareholders – per common share basic (in dollars per share) $ 0.01 $ (0.03) $ 0.01 $ 0
Weighted-average number of common shares outstanding – basic (in shares) 291,403,985 290,186,934 291,346,184 290,134,015
Net income (loss) attributable to common shareholders – per common share diluted (in dollars per share) $ 0.01 $ (0.03) $ 0.01 $ 0
Weighted-average common shares outstanding – diluted (in shares) 291,615,350 291,015,537 291,451,866 290,964,350