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Sep 30, 2021
ILPT Q3 2021 Earnings Report
ILPT's third quarter results were marked by strong leasing activity, growth in same property cash basis NOI, and expansion of the industrial and logistics portfolio.
Key Takeaways
Industrial Logistics Properties Trust announced its Q3 2021 results, featuring a net income of $0.28 per share, normalized FFO of $0.46 per share, and a 3.4% increase in same property cash basis NOI compared to the same period last year. The company also reported significant leasing activity and portfolio expansion.
Net income attributable to common shareholders was $18.3 million, or $0.28 per diluted share.
Normalized funds from operations (FFO) attributable to common shareholders was $30.3 million, or $0.46 per diluted share.
818,000 sq. ft. of leasing activity at over 20% higher rents during the third quarter.
Same property cash basis NOI increased by 3.4% compared to the same period last year.
Forward Guidance
ILPT remains focused on acquiring high quality properties with stable cash flows and a favorable risk-adjusted return profile and continues to evaluate attractive opportunities for further growth, which allows ILPT to drive cash flow growth.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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