LXP Industrial Trust Q4 Net Income Rises

(RTTNews) - LXP Industrial Trust (LXP) reported fourth quarter net income to shareholders of $260.5 million, or $0.90 per share, compared to $102.7 million, or $0.37 per share, a year ago. On average, four analysts polled by Thomson Reuters expected the company to report profit per share of $0.02, for the quarter. Analysts' estimates typically exclude special items.

Adjusted FFO was $53.8 million, or $0.18 per share compared to $55.0 million, or $0.19 per share, last year.

Total gross revenues were $86.5 million, compared to $83.3 million, a year ago. The company said the increase was primarily attributable to an increase in rental revenue due to property acquisitions and an increase in tenant reimbursements. Analysts on average had estimated $83.29 million in revenue.