Lexington Realty Trust Q1 Profit Down

(RTTNews) - Lexington Realty Trust (LXP) reported that its net income attributable to common shareholders for the first-quarter declined to $16.5 million or $0.06 per share, from $26.4 million or $0.11 per share in the prior year.

Adjusted Company FFO was $49.3 million, or $0.19 per share, compared to Adjusted Company FFO of $47.2 million, or $0.20 per share last year.

Total gross revenues were $80.8 million, compared with total gross revenues of $81.2 million for the quarter ended March 31, 2019. The decrease was primarily attributable to sales, partially offset by property acquisitions and higher fee income.

Analysts polled by Thomson Reuters expected the company to report earnings of $0.03 per share and revenues of $80.59 million. Analysts' estimates typically exclude special items.