LXP Industrial Trust Q3 FFO Rises

(RTTNews) - LXP Industrial Trust (LXP), a real estate investment trust, Tuesday reported funds from operations (FFO) of $51.92 million or $0.18 per share for the third quarter, higher than $47.37 million or $0.17 per share in the same quarter a year ago.

Excluding one-time items, adjusted FFO increased to $51.93 million or $0.18 per share from $48.13 million or $0.17 per share last year.

Net income was $11.03 million, or $0.04 per share, compared with $21.78 million, or $0.08 per share a year ago.

Revenue for the quarter grew to $85.42 million, from $80.09 million in the previous year.

The company declared a quarterly dividend of $0.13 per share/unit payable January 16, to shareholders/unitholders of record on December 29.

LXP has raised its full-year adjusted FFO outlook to $0.68- $0.70 from $0.66-$0.70 guided earlier.