- Lexington Realty Trust (LXP -3%) reaffirms guidance for 2018 adjusted FFO per share; it now expects EPS of 24-27 cents compared with 54-57 cents it expected in its May 8 guidance.
- LXP -2.91% in morning trading.
- Q2 adjusted FFO per share of 25 cents vs. 23 cents a year ago and exceeds consensus by a penny.
- Total gross revenue of $105.5M rose 10% from $95.7M a year ago.
- Acquired three industrial properties for a total of $136.8M during the quarter and sold three non-industrial properties for a total of $65.6M.
- Completed 331,000 square feet of new leases and lease extensions with portfolio 97.3% leased at quarter end.
- “To date, we have added $137M of new industrial assets to our portfolio and disposed of $175M of office and other non-core assets," says CEO and President T. Wilson Eglin. "Considerable progress has been made on reducing our office exposure and we continue to focus on accelerating our disposition efforts in this area of our business.”
- Q2 impairment charges and loan loss increased to $35.3M fro $13.6M, helping to contribute to loss before income taxes and equity in earnings (losses) of non-consolidated entities of $491,000 vs income of $11.0M a year earlier
- Source: Press Release
- Previously: Lexington Realty Trust beats by $0.01, beats on revenue (Aug. 8)
- Now read: The More It Drops, The More I Buy - Revisited
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