LXP Industrial: Q3 Earnings Snapshot
NEW YORK (AP) — NEW YORK (AP) — LXP Industrial Trust (LXP) on Tuesday reported a key measure of profitability in its third quarter. The results matched Wall Street expectations.
NEW YORK (AP) — NEW YORK (AP) — LXP Industrial Trust (LXP) on Tuesday reported a key measure of profitability in its third quarter. The results matched Wall Street expectations.
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The real estate investment trust, based in New York, said it had funds from operations of $51.9 million, or 18 cents per share, in the period.
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The average estimate of four analysts surveyed by Zacks Investment Research was for funds from operations of 18 cents per share.
Funds from operations is a closely watched measure in the REIT industry. It takes net income and adds back items such as depreciation and amortization.
The company said it had net income of $11 million, or 4 cents per share.
The real estate investment trust, based in New York, posted revenue of $85.4 million in the period.
LXP Industrial expects full-year funds from operations in the range of 68 cents to 70 cents per share.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on LXP at https://www.zacks.com/ap/LXP