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Dec 31, 2020
ILPT Q4 2020 Earnings Report
Reported strong Q4 results with progress on key priorities, reduced leverage, expanded portfolio, and created value for tenants and investors.
Key Takeaways
Industrial Logistics Properties Trust announced strong Q4 2020 results, marked by a net income of $0.62 per share and normalized FFO of $0.46 per share. The company reduced leverage by adding a second joint venture investor, expanded its portfolio with the acquisition of a Class A industrial facility in Kansas City, and maintained a high portfolio occupancy of 98.5%.
Net income attributable to common shareholders was $0.62 per diluted share.
Normalized FFO attributable to common shareholders was $0.46 per diluted share.
Portfolio occupancy remained stable at 98.5%.
Added a second third party investor to existing joint venture, substantially reducing leverage.
Forward Guidance
Industrial real estate fundamentals are expected to remain strong in 2021, with ILPT positioned to pursue opportunities that complement existing industrial assets, drive growth across the portfolio, and create sustainable long-term shareholder value.
Positive Outlook
- Industrial real estate fundamentals are expected to remain strong.
- ILPT is well positioned to pursue opportunities.
- Opportunities will complement ILPT’s existing industrial assets.
- Drive growth across the portfolio.
- Create sustainable long-term shareholder value.
Challenges Ahead
- ILPT's business is subject to various risks, some of which are beyond its control, such as the COVID-19 pandemic and/or general economic conditions.
- Leasing activity depends on various factors, including the impact of the COVID-19 pandemic, existing tenants’ continuing need for space, the timing of the expiration of existing leases, the market demand to lease space at ILPT’s properties, ILPT’s ability to successfully compete for tenants and other economic and market conditions.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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