LXP Industrial: Q3 Earnings Snapshot

NEW YORK (AP) _ LXP Industrial Trust (LXP) on Thursday reported a key measure of profitability in its third quarter. The results surpassed Wall Street expectations.

The New York-based real estate investment trust said it had funds from operations of $48.1 million, or 17 cents per share, in the period.

The average estimate of four analysts surveyed by Zacks Investment Research was for funds from operations of 16 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 net income of $21.8 million, or 8 cents per share.

The real estate investment trust posted revenue of $80.1 million in the period.

LXP Industrial expects full-year funds from operations in the range of 65 cents to 68 cents per share.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on LXP at https://www.zacks.com/ap/LXP