LXP suspends strategic alternatives, issues FY2022 guidance: EPS $0.31-$0.35, FFO $0.64-$0.68

LXP Industrial Trust

Board unanimously suspends strategic review; will continue as independent company.
Q1 leasing: 2.3M sq ft executed in warehouse/distribution; base rent +27.7%, cash base +18.1%.
FY2022 net income per diluted share guidance: $0.31 to $0.35.
FY2022 Adjusted Company FFO guidance: $0.64 to $0.68 per diluted share.
Review began Feb 8, 2022; Board cited changed macroeconomic, geopolitical and financing conditions.

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