WEST PALM BEACH, Fla. (AP) — WEST PALM BEACH, Fla. (AP) — LXP Industrial Trust (LXP) on Wednesday reported a key measure of profitability in its third quarter.
The real estate investment trust, based in West Palm Beach, Florida, said it had funds from operations of $46.7 million, or 16 cents per share, in the period.
Funds from operations is a closely watched measure in the REIT industry. It takes net income and adds back items such as depreciation and amortization.
The company said it had net income of $4.7 million, or 2 cents per share.
The real estate investment trust, based in West Palm Beach, Florida, posted revenue of $85.6 million in the period.
LXP Industrial expects full-year funds from operations in the range of 63 cents to 64 cents per share.
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