Lexington Realty Q4 FFO Rises, Tops Estimates

(RTTNews) - Lexington Realty Trust (LXP), a REIT focused on single-tenant real estate investments, Thursday reported a rise in Funds From Operations, or FFO, for the fourth quarter. FFO, excluding certain items, surpassed analysts' estimates. The company closed property acquisitions of $405.9 million in the quarter.

FFO rose to $51.16 million from $39.61 million a year earlier. FFO per share increased to $0.21 from $0.20 last year.

Excluding certain items, FFO increased to $65.66 million or $0.28 per share from $48.17 million or $0.25 per share a year earlier.

On average, 9 analysts polled by Thomson-Reuters estimated the company's earnings to be $0.27 for the quarter. Analysts' estimates typically exclude one-time items.

For the fourth quarter, loss attributable to common shareholders widened to $8.92 million from $7.04 million a year earlier. Loss per share remained flat at $0.04.

Gross revenues for the 3-month period increased to $109.61 million from $92.06 million a year earlier. Analysts had expected the company to report revenues of $105.34 million.

For 2014, the company said it expects adjusted FFO per share to be $1.11 to $1.15. Analysts estimate adjusted FFO per share to be $1.11.