WEST PALM BEACH, Fla. (AP) — WEST PALM BEACH, Fla. (AP) — LXP Industrial Trust (LXP) on Thursday reported a key measure of profitability in its fourth quarter.
The real estate investment trust, based in West Palm Beach, Florida, said it had funds from operations of $47 million, or 79 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 $27.1 million, or 46 cents per share.
The real estate investment trust, based in West Palm Beach, Florida, posted revenue of $86.7 million in the period.
For the year, the company reported funds from operations of $187.3 million. Revenue was reported as $350.2 million.
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