Lexington Realty Trust (NYSE:LXP) is a leading investor in single-tenant commercial properties across the nation, which are generally net-leased to major corporations.
Lexington, through property owner subsidiaries, has leases with tenants representing the full range of a diverse U.S. economy, including small, medium, and large companies operating in more than 20 industries, including energy, finance, insurance, technology, automotive, healthcare, telecommunications, retail, media, consumer products, aerospace and defense.
While Lexington, through property owner subsidiaries, owns 100% of most of these properties, other properties are owned in joint ventures with institutional partners and high net worth individuals and families, with Lexington providing investment advisory and asset management services to such joint ventures.
Lexington believes that its focus on net-leased investments, under which the tenant pays all or substantially all operating expenses, combined with the diversification in the portfolio by geographical location, tenant industry segment, lease-term expirations and property type, creates predictable, stable cash flow.
Lexington currently pays an annualized dividend of $0.60 per share, which is subject to authorization of its Board of Trustees.