Loading...
•
Sep 30, 2020
ILPT Q3 2020 Earnings Report
Reported solid third quarter results, demonstrating strength and resilience in a challenging economic environment.
Key Takeaways
Industrial Logistics Properties Trust announced third quarter results with a net income of $14.1 million, or $0.22 per diluted share, and normalized FFO of $30.1 million, or $0.46 per diluted share. The company benefited from robust industry fundamentals and a portfolio of high-quality assets, achieving nearly 800,000 square feet of leasing activity with a 9.6% rent increase. Occupancy rates remained steady at nearly 99%, and 98% of contractual rents were collected after rent deferrals.
Net income attributable to common shareholders was $0.22 per diluted share.
Normalized FFO attributable to common shareholders was $0.46 per diluted share.
Executed nearly 800,000 square feet of leasing activity with a 9.6% rollup in rent.
Occupancy rates held steady at nearly 99%.
Forward Guidance
The company's future performance is subject to various factors, including the ongoing impact of the COVID-19 pandemic on tenants' operations and liquidity, which could affect their ability to pay rent. Leasing activity depends on market demand, competition, and economic conditions, and the sale of a property classified as held for sale is subject to conditions that may not be satisfied.
Challenges Ahead
- If the COVID-19 pandemic and current economic conditions continue or worsen, ILPT’s tenants’ operations and liquidity could be adversely impacted, which may impact their ability to pay rent due to ILPT.
- If this occurs, ILPT’s financial results and liquidity could be adversely impacted and the value of its properties could decline.
- ILPT may not realize similar or better leasing results in the future, and these leasing results may worsen.
- If the COVID-19 pandemic and economic conditions continue or worsen, ILPT’s tenants’ operations and liquidity may be adversely impacted, which may impact their ability to pay rent due to ILPT.
- Those conditions may not be satisfied and this sale may not occur, may be delayed or the terms may change, and ILPT may incur losses with respect to the sale of such property.
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
Loading earnings performance data...
Loading earnings reaction data...