NEW YORK (AP) _ Lexington Realty Trust (LXP) on Thursday reported a key measure of profitability in its fourth quarter. The results exceeded Wall Street expectations.

The real estate investment trust, based in New York, said it had funds from operations of $55 million, or 19 cents per share, in the period.

The average estimate of four analysts surveyed by Zacks Investment Research was for funds from operations of 18 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 $102.7 million, or 37 cents per share.

The real estate investment trust posted revenue of $83.3 million in the period, which also beat Street forecasts. Three analysts surveyed by Zacks expected $82.2 million.

For the year, the company reported funds from operations of $209.5 million. Revenue was reported as $330.4 million.

Lexington Realty expects full-year funds from operations in the range of 72 cents to 76 cents per share.

The company's shares have increased slightly more than 2% since the beginning of the year. The stock has dropped 6% in the last 12 months.

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

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