$50.12
-0.18%Lexington Realty Trust (NYSE: LXP) is a publicly traded real estate investment trust (REIT) that owns a portfolio of real estate assets consisting primarily of equity investments in single-tenant net-leased industrial properties across the United States. Lexington seeks to expand its industrial portfolio through build-to-suit transactions, sale-leaseback transactions and other transactions, including acquisitions.
Warren Buffett's Owner Earnings DCF analysis for intrinsic value calculation
Base year metrics used for projections
Forecast period and terminal assumptions
Calculation flow from present value to intrinsic value per share
Operating Cash Flow - Maintenance CapEx = Owner Earnings
| Metric | Year 1 | Year 2 | Year 3 | Year 4 | Year 5 | Year 6 | Year 7 | Year 8 | Year 9 | Year 10 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $159.8M | $135.4M | $114.7M | $97.1M | $82.2M | $69.7M | $59.0M | $50.0M | $42.3M | $35.8M |
| Maintenance CapEx | -$4.2M | -$3.6M | -$3.0M | -$2.6M | -$2.2M | -$1.8M | -$1.6M | -$1.3M | -$1.1M | -$946.3K |
| Owner Earnings | $155.6M | $131.8M | $111.6M | $94.5M | $80.1M | $67.8M | $57.4M | $48.7M | $41.2M | $34.9M |
| Discount Factor | 0.926 | 0.857 | 0.794 | 0.735 | 0.681 | 0.630 | 0.583 | 0.540 | 0.500 | 0.463 |
| Present Value | $144.1M | $113.0M | $88.6M | $69.5M | $54.5M | $42.7M | $33.5M | $26.3M | $20.6M | $16.2M |
Snapshot
Start with context, operating signals, and key market metrics.
Value Model
Stress test fair value across bear, base, and bull assumptions.
Statements
Validate revenue quality, margins, and balance sheet durability.
Earnings Call
Read management commentary and compare it with reported outcomes.
Dividends
Check payout sustainability and long-term distribution behavior.
Analyst Expectations
Review consensus spread and where estimate risk is concentrated.