Industrial Logistics Properties Trust | REIT Profile

Symbol: ILPT
CIK: 1717307
Exchange: NASDAQ
Founded: 2017 (5 years)
HQ: Newton, MA, United States
Type of REIT: Equity REIT
Listing Status: Public
Market Capitalization: Micro-Cap
REIT Sector: Industrial
Externally Managed REIT

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See ILPT on SEC.gov

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About Industrial Logistics Properties Trust

Industrial Logistics Properties Trust (ILPT) is a real estate investment trust (REIT) formed to own and lease industrial and logistics properties throughout the United States. As of March 31, 2018, ILPT owned 266 industrial and logistics properties with 28.5 million rentable square feet which are approximately 99.9% leased to 243 different tenants with a weighted average remaining lease term of approximately 11.2 years. 40% of annualized rental revenues come from 40 industrial and logistics properties with approximately 11.7 million square feet located in 24 states on the U.S. mainland. 60% of annualized rental revenues come from 226 properties (buildings, leasable land parcels and easements) with approximately 16.8 million square feet located on the island of Oahu, Hawaii, most of which are long term ground leases to tenants who have constructed buildings and operate businesses on ILPT's lands. Logistics properties are a subset of industrial properties that are primarily used for warehouse and distribution purposes. We believe the U.S. retail industry is experiencing a major shift away from stores and shopping centers to e-commerce sales platforms and that this change is causing increasing demand for industrial and logistics real estate. We intend to expand our business by focusing on properties that may benefit from the growth of e-commerce.


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REITMovers


REITMovers tracks the stock price and other indicators for all US REITs tracked by REITNotes during normal trading hours. This data is updated every 3 minutes during normal trading hours. Note: All prices have a 15 minute delay.


Latest Price High Low Open Close Previous Close Volume Change $ Change % Market Cap PE Ratio 52W High 52W Low Ytd Change
$4.04 N/A N/A N/A N/A $3.99 633,887 $0.05 1.25% $264,896,982 -1.99 $24.88 $3.32 -82.27%

Last update: 2022-11-25 10:00:00 PST

REITRating™ Trend


REITRating™ is REITNotes' Real Estate Investment Trust industry-specific rating and ranking system. The overall score is out of ten points, with ten being the best score. See score breakdown. The graph below plots the overall REITRating™ score for the last trading days. See complete trend.

Overall REITRating Score: 5.4

Hightlights of Trading Day November 25, 2022


Open Price: $3.99
Closing Price: $4.04
Price Change: 0.05 (1.253%)
Lowest Price: $3.97
Highest Price: $4.145
52-Week Low: $3.32
52-Week High: $24.88
52-Week Change: -82.30%
5 Day Price Change: 17.70%
1 Month Price Change: -21.61%
3 Month Price Change: -51.19%
6 Month Price Change: -72.30%
YTD Price Change: -83.53%
1 Year Price Change: -82.30%
2 Year Price Change: -80.29%
5 Year Price Change: -77.93%

Dividend of Trading Day November 25, 2022


Dividend Yield: 0.99%*
Annualized Dividend: $0.04*
Dividend Yield (TTM): 16.859%
Annualized Dividend (TTM): $0.6727
Ex-Dividend Date: 2022-10-21
Dividend Frequency: Quarterly

*The forward annualized dividend and dividend yield are based on the most recent dividend value paid by the REIT. The REIT may have already announced their next upcoming dividend value, which may be different from previously paid dividend value. It is recommended to check the REIT's website and dividend announcements for the latest information on upcoming dividends and changes. This graph does not include extraordinary dividend.

Latest News Headlines


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Funds From Operations (FFO)



FFO Amount and Payout Ratio

Below are the FFO amounts, dividends, and payout ratios for the last two quarters for ILPT.

Year Quarter Type Amount Dividend Paid Payout Ratio
2022 Q3 Normalized FFO $--- $--- ---%
2022 Q3 FFO $--- $--- ---%
2022 Q2 FFO $--- $--- ---%
2022 Q2 Normalized FFO $--- $--- ---%

REITNotes uses the REIT's Funds From Operation (FFO) per diluted share informed in the REIT’s Quarterly Earning Reports and its announced dividend per diluted share. For some REITs, we also display the Adjusted Funds From Operations (AFFO), Core FFO, Normalized FFO (NFFO), Modified FFO (MFFO), Operating FFO as provided by the REIT. REITNotes™ calculates the payout ratio by dividing the dividend value paid during the current quarter by the FFO declared in the previous Quarter. E.g., we divide the dividend value paid in Q3 by the FFO reported in Q2. This is because although paid in Q3, the dividend value is usually declared during the previous quarter. FFO is a non-GAAP measure recognized by the SEC and provided by the REITs as a supplemental measure of their operating performance. FFO is not meant to be an indicator of the REIT’s capacity to pay current or future dividends nor to be a substitute to the REIT's cash flow from operations. It is recommended to check the REIT's website, Earning Reports and dividend announcements for the latest and updated information.


Funds From Operations (FFO)

Key Stats of Trading Day November 25, 2022


Total Cash: $26,381,000
Current Debt: $91,221,000
Revenue: $338,308,000
Gross Profit: $338,308,000
Total Revenue: $338,308,000
Earnings Before Interest, Taxes & Depreciation Amortization (EBITDA): $280,032,000
Revenue Per Share: $5
Revenue Per Employee: N/A
Employee: N/A
Debt to Equity Ratio (D/E): 7.04
Profit Margin: -0.39%
Enterprise Value (EV): $4,511,976,838
Enterprise Value to Revenue (EV/R): 13.34
Price to Sales (P/S): 0.80
Price to Book (P/B): 0.33
Price/Earnings-to-Growth (PEG) Ratio: 0.01
P/E Ratio: -1.99
P/E High: 16.34
P/E Low: 9.66
Forward P/E Ratio: -1.31
Market Capitalization: $264,896,982
Beta: 1.04
Latest Volume: 633,887
Avg. Total Volume: 1,328,560
Avg. 10-Day Volume: 1,495,745
Avg. 30-Day Volume: 1,328,560
TTM EPS: -2.03
Shares Outstanding: 65,568,560
Float: N/A
50-Day Moving Avg.: $4.44
200-Day Moving Avg.: $9.17

Latest REIT Community Comments on #ILPT


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Properties Owned by ILPT


ILPT Sample Property

Sample of REIT’s Properties. Image Source - REIT’s website

Occupancy Rate



Different REITs may report Occupancy levels in various forms/calculations. Some of the terms used to describe occupancy are Portfolio Occupancy, Weighted Average Occupancy, Ending Occupancy, Economic Occupancy, Leased Occupancy, Physical Occupancy, Pro Forma Occupancy, Same-Property Occupancy, Stabilized Portfolio Occupancy, Comparable Occupancy, Lease Rate, Percent Leased, among others. Some REITs interchange the words Occupancy and Leased while others use them to distinguish between data points. Some REITs also vary the use of the words over time through their earning reports. Therefore the information provided here is our best attempt at collecting data on occupancy/leased trends. However, it may not be accurate or comparable between different REITs.

REIT Simulation


Below is a simulation of how much money you would have made in dividends, and how much the shares would be worth had you purchased them 1 year ago for the amounts below.

With $1,000 USD With $500 USD With $250 USD With $100 USD With $50 USD
Initial investment @ $21.01 per share you would have been able to buy 47 shares of ILPT on 2021-11-26 costing $987.47 @ $21.01 per share you would have been able to buy 23 shares of ILPT on 2021-11-26 costing $483.23 @ $21.01 per share you would have been able to buy 11 shares of ILPT on 2021-11-26 costing $231.11 @ $21.01 per share you would have been able to buy 4 shares of ILPT on 2021-11-26 costing $84.04 @ $21.01 per share you would have been able to buy 2 shares of ILPT on 2021-11-26 costing $42.02
Current worth On 2022-11-25 these 47 shares would be worth $189.88 @ $4.04 On 2022-11-25 these 23 shares would be worth $92.92 @ $4.04 On 2022-11-25 these 11 shares would be worth $44.44 @ $4.04 On 2022-11-25 these 4 shares would be worth $16.16 @ $4.04 On 2022-11-25 these 2 shares would be worth $8.08 @ $4.04
Dividends earned $31.96 in dividends would have been earned since 2021-11-26 with 47 shares. $16 in dividends would have been earned since 2021-11-26 with 23 shares. $7.48 in dividends would have been earned since 2021-11-26 with 11 shares. $2.72 in dividends would have been earned since 2021-11-26 with 4 shares. $1.36 in dividends would have been earned since 2021-11-26 with 23 shares.
Net (gain / loss)* -765.63 USD -374.67 USD -179.19 USD -65.16 USD -32.58 USD
ROI** -77.53% -77.53% -77.53% -77.53% -77.53%

*Net (Gains/Loss): Includes the stock price (appreciate or depreciate ) + dividends earned during period held. Stock prices based on closing price for the date. **ROI: Is based on the Net (gain/loss) divided by the initial investment value. Note: Past performance is no guarantee of future results. This is a high-level simulation and does not account for many factors such as inflation and taxes so we cannot guarantee the accuracy of this simulation.

Dividend History


Below are the most recent cash dividends paid by ILPT. The percent difference from one dividend payment to the next has also been calculated for your convenience. Dividends flagged as [E] are extraordinary dividend payments.


Symbol Ex Date Cash Amount Change in Dividend Declaration Date Record Date Payment Date
ILPT 2022-10-21 0.010 --- 2022-10-13 2022-10-24 2022-11-17
ILPT 2022-07-22 0.010 -96.97% 2022-07-14 2022-07-25 2022-08-18
ILPT 2022-04-22 0.330 --- 2022-04-14 2022-04-25 2022-05-19
ILPT 2022-01-21 0.330 --- 2022-01-13 2022-01-24 2022-02-17
ILPT 2021-10-22 0.330 --- 2021-10-14 2021-10-25 2021-11-18
ILPT 2021-07-23 0.330 --- 2021-07-15 2021-07-26 2021-08-19
ILPT 2021-04-23 0.330 --- 2021-04-15 2021-04-26 2021-05-20
ILPT 2021-01-22 0.330 --- 2021-01-14 2021-01-25 2021-02-18
ILPT 2020-10-23 0.330 --- 2020-10-15 2020-10-26 2020-11-19
ILPT 2020-07-24 0.330 --- 2020-07-16 2020-07-27 2020-08-20
ILPT 2020-04-15 0.330 --- 2020-04-06 2020-04-16 2020-05-21
ILPT 2020-01-24 0.330 --- 2020-01-16 2020-01-27 2020-02-20
ILPT 2019-10-25 0.330 --- 2019-10-17 2019-10-28 2019-11-14
ILPT 2019-07-26 0.330 --- 2019-07-18 2019-07-29 2019-08-15
ILPT 2019-04-26 0.330 --- 2019-04-18 2019-04-29 2019-05-16
ILPT 2019-01-25 0.330 --- 2019-01-18 2019-01-28 2019-02-21
ILPT 2018-10-26 0.330 --- 2018-10-18 2018-10-29 2018-11-12
ILPT 2018-07-27 0.330 22.22% 2018-07-19 2018-07-30 2018-08-13
ILPT 2018-04-27 0.270 --- 2018-04-19 2018-04-30 2018-05-14

Earnings Press Releases


Below are the Earnings Press Releases for ILPT. To see the complete Earnings Report please visit the sec.gov.

Year Quarter Title
2022 Q1 Industrial Logistics Properties Trust Announces First Quarter 2022 Results
2021 Q4 Industrial Logistics Properties Trust Announces Fourth Quarter 2021 Results

Financial Statements Overview


The next Earnings Report for ILPT is 2023-02-14

Balance Sheet | Quarterly

See Annual Balance Sheet | See Quarterly Balance Sheet

Amounts in USD ($)

Balance Sheet 2022-09-30 2022-06-30 2022-03-31 2021-12-31
Current Cash 26,381,000 291,866,000 275,075,000 29,397,000
Receivables 246,040,000 233,903,000 220,871,000 218,898,000
Inventory 0 0 0 0
Current Assets 372,709,000 670,847,000 1,374,264,000 248,295,000
Current Assets (Other) 0 0 0 0
Short Term Investments 0 0 0 0
Long-term Investments 5,346,926,000 5,284,991,000 4,729,529,000 1,660,263,000
Property, Plant & Equipment Net 5,242,677,000 5,242,491,000 4,650,642,000 1,644,784,000
Goodwill 0 0 0 0
Intangible Assets 0 0 0 0
Other Assets 104,249,000 42,500,000 78,887,000 15,479,000
Net Tangible Assets 812,421,000 853,588,000 1,014,250,000 1,038,042,000
Total Assets 5,719,635,000 5,955,838,000 6,103,793,000 1,908,558,000
Accounts Payable 0 0 0 0
Liabilities (Other) 0 0 0 0
Current Liabilities (Other) 91,221,000 85,577,000 85,456,000 29,957,000
Total Current Liabilities 91,221,000 85,577,000 85,456,000 29,957,000
Current Long-term Debt 0 0 0 0
Long-term Debt 4,266,904,000 4,435,327,000 4,388,425,000 840,559,000
Total Liabilities 4,907,214,000 5,102,250,000 5,089,543,000 870,516,000
Minority Interest 549,089,000 581,346,000 589,719,000 0
Common Stock 65,250,000 65,221,000 65,212,000 65,213,000
Retained Earnings 148,228,000 193,855,000 337,394,000 25,164,000
Treasury Stock 0 0 0 0
Capital Surplus 0 0 0 0
Shareholder Equity 812,421,000 853,588,000 1,014,250,000 1,038,042,000

Income Statement | Quarterly

See Annual Income Statement | See Quarterly Income Statement

Amounts in USD ($)

Income Statement 2022-09-30 2022-06-30 2022-03-31 2021-12-31
Total Revenue 103,215,000 107,222,000 71,375,000 56,496,000
Cost of Revenue 0 0 0 0
Gross Profit 103,215,000 107,222,000 71,375,000 56,496,000
Research and Development 0 0 0 0
Selling General and Admin 9,110,000 9,709,000 6,077,000 4,006,000
Operating Expense 79,831,000 72,736,000 45,163,000 30,613,000
Operating Income 23,384,000 34,486,000 26,212,000 25,883,000
Income Expense Net (Other) 0 0 478,000 0
EBIT 26,681,000 36,096,000 28,417,000 61,346,000
Interest Income 89,739,000 77,548,000 40,999,000 9,157,000
Pretax Income -83,946,000 -151,305,000 -9,718,000 63,303,000
Income Tax 28,000 16,000 69,000 96,000
Minority Interest 0 0 0 0
Net Income -45,627,000 -143,539,000 -6,514,000 63,207,000
Net Income Basic -45,627,000 -143,539,000 -6,514,000 63,207,000

Cash Flow | Quarterly

See Annual Cash Flow | See Quarterly Cash Flow

Amounts in USD ($)

Cash Flow 2022-09-30 2022-06-30 2022-03-31 2021-12-31
Net Income -45,627,000 -143,539,000 -6,514,000 63,207,000
Depreciation 47,842,000 45,860,000 14,992,000 25,613,000
Changes in Receivables 246,040,000 233,903,000 220,871,000 218,898,000
Changes in Inventories 0 0 0 0
Cash Change 26,381,000 291,866,000 275,075,000 29,397,000
Cash Flow 976,000 24,292,000 56,639,000 21,730,000
Capital Expenditures -3,436,000 -4,687,000 -618,000 -2,538,000
Investments 0 0 0 0
Investing Activity (Other) 0 0 0 0
Total Investing Cash Flows -41,012,000 26,463,000 -3,442,485,000 157,968,000
Dividends Paid 0 0 0 0
Net Borrowings 4,240,523,000 4,143,461,000 4,113,350,000 811,162,000
Cash Flow Financing -270,239,000 -35,240,000 3,777,878,000 -194,394,000
Financing Cash Flows (Other) 0 0 0 0
Exchange Rate Effect 0 0 0 0

REITRating™ Scorecard


Rating Dividend Section Avg. Rating
0 Dividend Payment Growth: Analysis of how the REIT’s dividend payments have performed during the last three years. 3.6
4 Dividend Payment Consistency: Analysis of how many periods the REIT’s dividends have been paid consistently without a gap in payment. 7.0
9 Dividend to Normalized FFO Payout Ratio Health: Analysis of the REIT’s Dividend to Normalized FFO Payout Ratios during the last four quarters. 8.7
1 Dividend to Normalized FFO Payout Ratio Trend: Analysis of the REIT’s Dividend to Normalized FFO Payout Ratios trend during the last two years. 7.4
Rating AFFO & Efficiency Section Avg. Rating
6 Normalized FFO Trend: Analysis of the REIT’s Normalized FFO trend during the last two years. 8.9
5 Normalized FFO to Revenue Health: Analysis of the REIT's Adjusted Funds From Operation to its Revenues. 6.9
9 Operating Expense Efficiency: Analysis of the REIT's Operating Expenses to its Revenues. 7.0
7 Operating Expense Efficiency Trend: Analysis of the trend of the REIT's Operating Expenses to its Revenue. 7.1
Rating Leverage Section Avg. Rating
5 Interest Coverage Health: Analysis of the REIT’s Interest Coverage health during the last four quarter. 6.7
4 Interest Coverage Health Trend: Analysis of the REIT’s Interest Coverage health trend during the last two years. 6.9
4 Total Debt Interest Rate Competitiveness: Analysis of the REIT’s Interest Rate to Total Debt competitiveness compared to REIT market. 7.6
3 Debt Leverage Health: Analysis of the REIT’s Total Debt to Total Assets. 5.0
3 Debt Leverage Health Trend: Analysis of the REIT’s Total Debt to Total Assets over the last two years. 7.2
Rating Asset & Revenue Section Avg. Rating
8 G&A Effeciency Level: Analysis of the REIT’s General and Administrative expenses in relationship to its Revenues. 7.3
8 G&A Effeciency Trend: Analysis of the Trend of the REIT’s General and Administrative expenses in relationship to its Revenues. 8.0
10 Revenues Growth: Analysis of how the REIT's Revenue has performed over the last two years. 7.8
10 Total Asset Growth: Analysis of how the REIT has grown its Total Assets over the last two years. 7.1
Rating Properties Section Avg. Rating
10 Occupancy Health Level: Analysis of the REIT’s occupancy health level during the last four quarters. 7.7
10 Occupancy Trend: Analysis of the REIT’s occupancy trend over the last two years. 8.8
Rating Market Cap Section Avg. Rating
5.4 Overall REITRating™ Score (See trend) 6.2

REITRating is REITNote's Real Estate Investment Trust industry-specific rating and ranking system. The REIT’s score for each analysis is out of ten points, with ten being the best score and zero being the worst. A score of zero can be assigned if the REIT does not meet the criteria for that specific analysis. N/A is assigned if insufficient data is available for a particular analysis. Our REITRating logic is continuously improving, so a REIT’s rating and ranking may change over time. Important Note: REITRating is not a predictor of a REIT’s future performance, it is an evaluation of its past results. Additionally, the REITRating system is for informational purposes only and does not represent financial or investment advice or a recommendation of which REITs to acquire. Learn more.

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Last updated: 2022-11-26 - v3.5