Lexington Realty Trust Q2 Profit Tops Estimates

(RTTNews) - Lexington Realty Trust (LXP) reported second quarter earnings per share of $0.06 compared to $0.09, prior year. On average, three analysts polled by Thomson Reuters expected the company to report profit per share of $0.03, for the quarter. Analysts' estimates typically exclude special items. Adjusted FFO per share was $0.19 compared to $0.20.

Second quarter total gross revenues were $81.8 million, compared to $80.1 million, previous year. The company said this increase is primarily attributable to acquisitions, partially offset by property sales and a decrease in fee and parking income. Analysts expected revenue of $80.24 million for the quarter.

Lexington now estimates that its net income attributable to common shareholders for the year ended December 31, 2020 will be within an expected range of $0.78 to $0.80 per share. The company tightened its adjusted FFO guidance to be within a range of $0.74 to $0.76 per share.