NEW YORK CITY-Lexington Realty Trust saidTuesday it generated funds from operations of $45.5 million duringthe third quarter, up about 10% year over year. The REIT, whichfocuses on single-tenant investments, also brought its net incomefrom a loss of $37 million in Q3 2011 to a gain of $169 million inthe most recent quarter, due mainly to acquiring Inland American(Net Lease) Sub LLC’s share of the Net Lease Strategic Assets Fundjoint venture.

That deal, announced just after Labor Day, consolidated LXP’s ownership of a 98.7% leasedportfolio that it had owned and/or managed since before NLS wasformed.

In a statement, LXP CEO T. Wilson Eglin cites“another quarter of strong operating results supported bysuccessful leasing activity, favorable asset recycling, attractiveexternal growth opportunities and refinancing maturing debts onadvantageous terms.” As a result, he says, the company was able toboost its quarterly common share dividend by 20% ahead of scheduleand tighten its guidance for 2012 FFO to an expected range of$0.96 to $0.98 per share, compared to an earlier projection of$0.95 to $0.98 per share. The earlier projection was itself anupward revision of the REIT’s full-year guidance.