ILPT Q3 2022 Earnings Report

Announced third quarter 2022 results with 1.7 million square feet of leasing executed at 77.5% higher rental rates.

Key Takeaways

Industrial Logistics Properties Trust reported a net loss attributable to common shareholders of $45.6 million, or $0.70 per diluted share, and normalized FFO attributable to common shareholders of $14.9 million, or $0.23 per diluted share for the quarter ended September 30, 2022. The company executed 1.7 million square feet of leasing at 77.5% higher rental rates.

Net loss attributable to common shareholders was $45.6 million, or $0.70 per diluted share.

Normalized FFO attributable to common shareholders were $14.9 million, or $0.23 per diluted share.

Same property net operating income, or NOI, decreased 0.3% compared to the prior year quarter.

Executed 1.7 million square feet of leasing at 77.5% higher rental rates.