Lexington Realty Trust Q1 Profit, Adj. FFO Decline

(RTTNews) - Lexington Realty Trust (LXP), a real estate investment trust focused on single-tenant real estate investments, net income attributable to common shareholders for the first-quarter ended March 31, 2017 declined to $40.4 million or $0.17 per share, from $47.8 million, or $0.20 per share for the quarter ended March 31, 2016.

Adjusted Company FFO were $57.8 million, or $0.23 per share, compared to Adjusted Company FFO for the quarter ended March 31, 2016 of $71.8 million, or $0.29 per diluted share.

Total gross revenues declined to $96.10 million from $111.28 million in the prior year.

Lexington now estimates that its net income attributable to common shareholders per common share for the year ended December 31, 2017 will be within an expected range of $0.57 to $0.61. Lexington reaffirmedthat its Adjusted Company FFO for the year ended December 31, 2017 will be within an expected range of $0.94 to $0.98 per diluted common share. This guidance is forward looking, excludes the impact of certain items and is based on current expectations.