Lexington Realty Trust Q2 Results Top Estimates; Raises FY21 Adjusted Company FFO View

(RTTNews) - Lexington Realty Trust (LXP) reported Thursday that second-quarter funds from operations or FFO increased to $52.15 million or $0.18 per share from last year's $51.39 million or $0.19 per share.

Net income attributable to common shareholders was $71.0 million or $0.26 per share, sharply higher than last year's $17.3 million or $0.06 per share.

On average, four analysts polled by Thomson Reuters expected the company to report earnings of $0.03 per share for the quarter. Analysts' estimates typically exclude special items.

Total gross revenues for the quarter edged down to $81.5 from $81.8 million in the same quarter last year. Analysts expected revenues of $80.6 million for quarter.

Looking ahead to fiscal 2021, Lexington now projects earnings in a range of $0.65 to $0.68 per share and adjusted Company FFO in a range of $0.74 to $0.77 per share.

Previously, the company expected earnings in a range of $0.74 to $0.77 per share and adjusted Company FFO in a range of $0.73 to $0.76 per share.

The Street is looking for earnings of $0.21 per share for the year.