WEST PALM BEACH, Fla. (AP) — WEST PALM BEACH, Fla. (AP) — LXP Industrial Trust (LXP) on Wednesday reported a key measure of profitability in its second quarter. The results exceeded Wall Street expectations.
The real estate investment trust, based in West Palm Beach, Florida, said it had funds from operations of $49.5 million, or 84 cents per share, in the period.
The average estimate of three analysts surveyed by Zacks Investment Research was for funds from operations of 83 cents per share.
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 a loss of $1.6 million, or 3 cents per share.
The real estate investment trust, based in West Palm Beach, Florida, posted revenue of $88.1 million in the period, meeting Street forecasts.
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