Lexington Realty Trust (LXP) Misses Q2 EPS by 4c, Beat on Revenues

Lexington Realty Trust (NYSE: LXP) reported Q2 EPS of $0.02, $0.04 worse than the analyst estimate of $0.06. Revenue for the quarter came in at $95.68 million versus the consensus estimate of $94.06 million.

Second Quarter 2017 Highlights

• Generated Net Income attributable to common shareholders of $5.5 million, or $0.02 per diluted common share.
• Generated Adjusted Company Funds From Operations available to all equityholders and unitholders - diluted (“Adjusted Company FFO”) of $57.0 million, or $0.23 per diluted common share.
• Acquired three industrial properties for an aggregated cost of $104.2 million and completed the Charlotte, NC build-to-suit project for $61.3 million.
• Committed to acquire an industrial property in Romulus, MI for $39.3 million.
• Invested $9.3 million in an on-going build-to-suit project.
• Sold six properties for $59.1 million.
• Retired $19.8 million of secured debt.
• Completed 1.4 million square feet of new leases and lease extensions with overall portfolio 98.1% leased at quarter end.

Subsequent Events

• Disposed of a retail property in Lexington, NC and a vacant office property in Rock Hill, SC for an aggregate $7.7 million.
• Acquired an industrial property in McDonough, GA for $66.7 million, which is net leased for 10.5 years.
• Extended the 2018 lease maturities on an industrial property in Columbus, OH and an industrial property in Marshall, MI aggregating 1.0 million square feet.
• Borrowed $70.0 million under its unsecured revolving credit facility.

For earnings history and earnings-related data on Lexington Realty Trust (LXP) click here.

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