NEW YORK, May 8, 2014 (GLOBE NEWSWIRE) -- Lexington Realty Trust ("Lexington") (NYSE:LXP), a real estate investment trust focused on single-tenant real estate investments, today announced results for the first quarter ended March 31, 2014.
First Quarter 2014 Highlights
- Company Funds From Operations, as adjusted ("Company FFO, as adjusted"), grew 12% to $0.28 per diluted common share.
- Closed property acquisitions of $79.6 million.
- Entered into an agreement for a four building build-to-suit project for $166.2 million.
- Invested $62.2 million in on-going build-to-suit projects and loan investments.
- Committed to acquire a newly built office property for $40.0 million.
- Executed 1.7 million square feet of new and extended leases with overall portfolio 97.2% leased.
- Repaid $19.5 million of secured debt with an interest rate of 6.2%.
- Sold four office properties for an aggregate price of $41.1 million, retiring $18.6 million of secured debt.
- Financed an office property for $27.8 million for five years at a fixed interest rate of 2.2%.
- Executed 0.7 million square feet of new and extended leases for vacant or 2014 lease expirations.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV