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Strategies & Market Trends : Value Investing
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To: E_K_S who wrote (72792)8/2/2023 9:09:34 AM
From: E_K_S   of 78907
 
REIT LXP earnings

LXP Industrial Trust Reports Second Quarter 2023 Results

Lots of moving parts. Company building/expanding their industrial warehouse foot print.

Beats by $0.01, beats on revenues; guides FY23 FFO in-line.

Revenues

For the quarter ended June 30, 2023, total gross revenues were $87.1 million, compared with total gross revenues of $79.8 million for the quarter ended June 30, 2022. The increase is primarily attributable to revenue from acquisitions and stabilized development projects, which was partially offset by sales

Adjusted Company FFO

For the quarter ended June 30, 2023, LXP generated Adjusted Company FFO of $52.7 million, or $0.18 per diluted share, compared to Adjusted Company FFO for the quarter ended June 30, 2022 of $48.9 million, or $0.17 per diluted share.

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