LXP Industrial Trust Board Suspends Review Process

(RTTNews) - LXP Industrial Trust (LXP) said its Board of Trustees has unanimously decided to suspend the previously announced evaluation of strategic alternatives. The company noted that it will remain open to all alternatives to maximize shareholder value.

Richard Frary, Lead Independent Trustee of the Board, said: "Following a thorough evaluation of alternatives the LXP Board determined that, the continued execution of LXP's strategy remains the best path to enhance shareholder value at this time."

LXP announced its net income attributable to shareholders per share for the year ended December 31, 2022 is expected to be within a range of $0.31 to $0.35, and adjusted FFO is expected to be within a range of $0.64 to $0.68 per share.

Also, LXP announced a leasing activity update for the first quarter of 2022, with new and renewal leases totaling 2.3 million square feet executed in its warehouse/distribution portfolio.