LXP Industrial Trust Q2 FFO, Revenue Decline

(RTTNews) - LXP Industrial Trust (LXP), a real estate investment trust, Wednesday reported funds from operations or FFO of $46.47 million or $0.16 per share for the second quarter, lower than $52.76 million or $0.18 per share last year, primarily due to $8.64 million loss on sale of properties.

Excluding one-time items, adjusted FFO declined to $46.90 million or $0.16 per share from $52.66 million or $0.18 per share a year ago.

Revenue for the quarter decreased to $85.79 million from $87.05 million in the previous year.

Looking ahead, LXP now expects adjusted FFO per share for the full year to be in the range of $0.62 - $0.65 compared with the previous outlook of $0.61 - $0.65.