Lexington Realty Trust Q2 FFO Rises; Confirms FY13 Adj. FFO Per Share View

(RTTNews) - Lexington Realty Trust (LXP) reported that its second-quarter funds from operations increased to $43.35 million from last year's $41.10 million. But funds from operations per share declined to $0.19 from $0.23 last year.

Adjusted Funds From Operations was $56.4 million, or $0.25 per share, compared to $44.2 million, or $0.24 per share last year.

Net loss attributable to common shareholders for the quarter was $0.8 million, or break even per share, compared to net loss of $3.4 million, or a loss of $0.02 per share last year.

Total gross revenues for the quarter grew to $99.4 million, from $80.8 million in the year ago quarter. The increase was primarily due to property acquisitions.

Analysts polled by Thomson Reuters expected the company to report earnings of $0.24 per share and revenues of $100.33 million for the quarter. Analysts' estimates typically exclude special items.

The company declared a regular quarterly common share/unit dividend/distribution for the quarter ended June 30, 2013 of $0.15 per common share/unit, which was paid on July 15, 2013 to common shareholders/unitholders of record as of June 28, 2013.

The company confirmed its estimate of Company FFO, as adjusted, within an expected range of $1.01 to $1.04 per share for the year ended December 31, 2013. Analysts expect the company to report earnings of $1.01 per share for fiscal 2013.