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Forest City Realty Trust Adds More Than 1% - Says Was Surprised by Letter From Land and Buildings, Continues to Work for Shareholders

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Forest City Realty Trust (FCE.A, FCE.B) is higher, with class B shares reaching a record high earlier, after the company said, in response to a letter from Land and Buildings Investment Management LLC, it had been working with the activist shareholder and was surprised by the letter.

Forest City said it is executing on a strategic plan to build a strong sustainable capital structure, focus on core markets and products, and achieve operational excellence. It noted its board and management team took significant steps to enhance the company's corporate governance by entering into agreements to declassify its common equity, appoint two new independent directors and adopt a majority voting standard for the election of directors.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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