Why LXP Industrial Trust Stock Flopped Badly on Friday
Real estate investment trust (REIT) LXP Industrial Properties (NYSE: LXP) ended the week on a serious down note. On Friday, the company's stock dived by more than 14% on a sudden reversal in business strategy that disappointed investors.
LXP announced in an official press release that it is no longer evaluating "strategic alternatives." That comes exactly two months after the REIT announced it was initiating such a review. Among other options the company was to consider was a merger with another company, and a sale.
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Source Fool.com
