Lexington Realty Trust Updates Earnings Guidance - Quick Facts

(RTTNews) - Lexington Realty Trust (LXP) increased its 2019 adjusted company FFO guidance range to $0.76 to $0.80 per share from $0.75 to $0.79 per share. Lexington now estimates that its net income attributable to common shareholders per share will be within an expected range of $1.28 to $1.32.

For the second-quarter, adjusted company FFO was $48.3 million, or $0.20 per share, compared to $62.4 million, or $0.25 per share, previous year. Net income attributable to shareholders was $21.7 million, or $0.09 per share, compared to a net loss attributable to shareholders of $3.3 million, or $0.01 per share, 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.

Second-quarter gross revenues were $80.1 million, compared to $105.7 million, a year ago. The company said the decrease was primarily attributable to property sales and lease expirations, partially offset by revenue generated from property acquisitions and new leases. Analysts expected revenue of $79.54 million for the quarter.