LXP Industrial Trust Q2 Adjusted FFO Falls

(RTTNews) - LXP Industrial Trust (LXP), a real estate investment trust, on Thursday reported net income of $39.67 million, or $0.14 per share for the second quarter, lower than $71.0 million, or $0.26 per share a year ago.

Excluding one-time items, adjusted Funds From Operations was $48.9 million, or $0.17 per share compared with $52.2 million, or $0.18 per share last year.

Gross revenue for the quarter declined to $79.78 million from $81.54 million in the previous-year quarter.

On average, analysts polled by Thomson-Reuters expected the company to report earnings of $0.01 per share on revenue of $78.82 million. Analysts' estimates typically exclude special items.

Looking forward, the company expects full-year EPS to be in the range of $0.37-$0.41 and adjusted FFO in the range of $0.64-$0.68. The consensus estimate stands at $0.04 per share.