Lexington Realty Trust Q3 Adj. FFO Down

(RTTNews) - Lexington Realty Trust (LXP) reported that its third-quarter adjusted Company FFO was $58.2 million or $0.24 per share, compared to Adjusted Company FFO of $60.7 million, or $0.25 per share last year.

Net income attributable to common shareholders was $216.2 million, or $0.90 per diluted share, compared to $3.9 million, or $0.02 per share last year. The change between periods relates primarily to the timing of gains on sales and impairments recognized on real estate, including the gains on sales of 21 office assets during the quarter ended September 30, 2018.

Total gross revenues were $100.0 million, compared with total gross revenues of $97.7 million for the quarter ended September 30, 2017. The increase was primarily attributable to revenue generated from 2018 and 2017 property acquisitions and new leases, partially offset by property sales and lease expirations.