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Side-by-side financial comparison of LXP Industrial Trust (LXP) and Piedmont Realty Trust, Inc. (PDM). Click either name above to swap in a different company.
Piedmont Realty Trust, Inc. is the larger business by last-quarter revenue ($142.9M vs $86.7M, roughly 1.6× LXP Industrial Trust). LXP Industrial Trust runs the higher net margin — 33.2% vs -30.3%, a 63.4% gap on every dollar of revenue. On growth, Piedmont Realty Trust, Inc. posted the faster year-over-year revenue change (-0.3% vs -14.0%). Over the past eight quarters, LXP Industrial Trust's revenue compounded faster (0.3% CAGR vs -0.6%).
LXP Industrial Trust is a publicly traded real estate investment trust (REIT) that owns, operates, and invests in high-quality industrial real estate assets, primarily distribution centers, logistics facilities, and light industrial properties across key markets in the United States. Its tenant base covers e-commerce, third-party logistics, and advanced manufacturing sectors, delivering stable long-term returns for its investors.
Piedmont Realty Trust, Inc. is a publicly traded real estate investment trust (REIT) that owns, operates, and invests in high-quality office properties primarily located in high-growth metropolitan areas across the United States. It serves corporate tenants across multiple industry sectors including technology, professional services, and healthcare, and pursues stable long-term returns for stakeholders via strategic property management and portfolio optimization.
LXP vs PDM — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $86.7M | $142.9M |
| Net Profit | $28.8M | $-43.2M |
| Gross Margin | 81.5% | — |
| Operating Margin | 34.6% | — |
| Net Margin | 33.2% | -30.3% |
| Revenue YoY | -14.0% | -0.3% |
| Net Profit YoY | — | -44.3% |
| EPS (diluted) | — | $-0.34 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $86.7M | $142.9M | ||
| Q3 25 | $86.9M | $139.2M | ||
| Q2 25 | $87.7M | $140.3M | ||
| Q1 25 | $88.9M | $142.7M | ||
| Q4 24 | $100.9M | $143.2M | ||
| Q3 24 | $85.6M | $139.3M | ||
| Q2 24 | $85.8M | $143.3M | ||
| Q1 24 | $86.3M | $144.5M |
| Q4 25 | $28.8M | $-43.2M | ||
| Q3 25 | $36.3M | $-13.5M | ||
| Q2 25 | $29.1M | $-16.8M | ||
| Q1 25 | $19.0M | $-10.1M | ||
| Q4 24 | — | $-30.0M | ||
| Q3 24 | $6.3M | $-11.5M | ||
| Q2 24 | $5.4M | $-9.8M | ||
| Q1 24 | $-269.0K | $-27.8M |
| Q4 25 | 81.5% | — | ||
| Q3 25 | 82.3% | — | ||
| Q2 25 | 81.9% | — | ||
| Q1 25 | 80.7% | — | ||
| Q4 24 | 85.3% | — | ||
| Q3 24 | 82.5% | — | ||
| Q2 24 | 82.0% | — | ||
| Q1 24 | 82.4% | — |
| Q4 25 | 34.6% | — | ||
| Q3 25 | 50.4% | — | ||
| Q2 25 | 33.7% | — | ||
| Q1 25 | 21.8% | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 7.9% | — | ||
| Q2 24 | 6.9% | — | ||
| Q1 24 | 1.0% | — |
| Q4 25 | 33.2% | -30.3% | ||
| Q3 25 | 41.7% | -9.7% | ||
| Q2 25 | 33.2% | -12.0% | ||
| Q1 25 | 21.4% | -7.1% | ||
| Q4 24 | — | -20.9% | ||
| Q3 24 | 7.4% | -8.3% | ||
| Q2 24 | 6.3% | -6.8% | ||
| Q1 24 | -0.3% | -19.2% |
| Q4 25 | — | $-0.34 | ||
| Q3 25 | $0.12 | $-0.11 | ||
| Q2 25 | $0.09 | $-0.14 | ||
| Q1 25 | $0.06 | $-0.08 | ||
| Q4 24 | — | $-0.25 | ||
| Q3 24 | $0.02 | $-0.09 | ||
| Q2 24 | $0.01 | $-0.08 | ||
| Q1 24 | $-0.01 | $-0.22 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $170.4M | $731.0K |
| Total DebtLower is stronger | $1.4B | $2.2B |
| Stockholders' EquityBook value | $2.0B | $1.5B |
| Total Assets | $3.5B | $4.0B |
| Debt / EquityLower = less leverage | 0.66× | 1.49× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $170.4M | $731.0K | ||
| Q3 25 | $229.7M | $3.0M | ||
| Q2 25 | $71.0M | $3.3M | ||
| Q1 25 | $70.9M | $2.9M | ||
| Q4 24 | $101.8M | $109.6M | ||
| Q3 24 | $55.0M | $133.6M | ||
| Q2 24 | $48.7M | $138.5M | ||
| Q1 24 | $293.8M | $3.5M |
| Q4 25 | $1.4B | $2.2B | ||
| Q3 25 | $1.5B | $2.2B | ||
| Q2 25 | $1.5B | $2.2B | ||
| Q1 25 | $1.5B | $2.2B | ||
| Q4 24 | $1.6B | $2.2B | ||
| Q3 24 | — | $2.2B | ||
| Q2 24 | — | $2.2B | ||
| Q1 24 | — | $2.1B |
| Q4 25 | $2.0B | $1.5B | ||
| Q3 25 | $2.1B | $1.5B | ||
| Q2 25 | $2.1B | $1.5B | ||
| Q1 25 | $2.1B | $1.6B | ||
| Q4 24 | $2.1B | $1.6B | ||
| Q3 24 | $2.1B | $1.6B | ||
| Q2 24 | $2.1B | $1.7B | ||
| Q1 24 | $2.2B | $1.7B |
| Q4 25 | $3.5B | $4.0B | ||
| Q3 25 | $3.7B | $4.0B | ||
| Q2 25 | $3.7B | $4.0B | ||
| Q1 25 | $3.8B | $4.0B | ||
| Q4 24 | $3.8B | $4.1B | ||
| Q3 24 | $3.9B | $4.1B | ||
| Q2 24 | $3.9B | $4.2B | ||
| Q1 24 | $4.2B | $4.0B |
| Q4 25 | 0.66× | 1.49× | ||
| Q3 25 | 0.72× | 1.43× | ||
| Q2 25 | 0.72× | 1.41× | ||
| Q1 25 | 0.73× | 1.40× | ||
| Q4 24 | 0.75× | 1.40× | ||
| Q3 24 | — | 1.36× | ||
| Q2 24 | — | 1.34× | ||
| Q1 24 | — | 1.23× |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $188.7M | $140.6M |
| Free Cash FlowOCF − Capex | — | — |
| FCF MarginFCF / Revenue | — | — |
| Capex IntensityCapex / Revenue | — | — |
| Cash ConversionOCF / Net Profit | 6.56× | — |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $188.7M | $140.6M | ||
| Q3 25 | $63.5M | $35.8M | ||
| Q2 25 | $44.3M | $50.1M | ||
| Q1 25 | $39.0M | $3.7M | ||
| Q4 24 | $211.2M | $198.1M | ||
| Q3 24 | $64.6M | $42.9M | ||
| Q2 24 | $38.5M | $66.8M | ||
| Q1 24 | $38.9M | $23.4M |
| Q4 25 | 6.56× | — | ||
| Q3 25 | 1.75× | — | ||
| Q2 25 | 1.52× | — | ||
| Q1 25 | 2.05× | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 10.18× | — | ||
| Q2 24 | 7.09× | — | ||
| Q1 24 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
LXP
Segment breakdown not available.
PDM
| Atlanta GA | $45.7M | 32% |
| Dallas TX | $24.1M | 17% |
| Orlando FL | $19.3M | 13% |
| New York NY | $14.7M | 10% |
| Northern Virginia Washington D.C. | $12.9M | 9% |
| Minneapolis MN | $11.4M | 8% |
| Boston MA | $9.8M | 7% |
| Real Estate Other | $7.8M | 5% |
