Industrial Logistics Properties Trust Q2 net loss narrows to $14.46 million; normalized FFO per share rises 48% year over year to $0.31
ILPT•Quarterly results
- Industrial Logistics Properties Trust posted a GAAP net loss attributable to common shareholders of USD 14.5 million, or USD 0.22 a share.
- Normalized FFO attributable to common shareholders, a non-GAAP metric, rose 48% year over year to USD 20.8 million, or USD 0.31 a share.
- Rental income increased to USD 114.1 million; same property Cash Basis NOI, a non-GAAP metric, rose 2% year over year to USD 85.7 million.
Leasing and occupancy
- Leasing totaled 5.4 million square feet at a 35.4% weighted-average GAAP rent roll-up, lifting occupancy to 99.1% with an 8.1-year weighted-average lease term.
Balance sheet and dividend
- Refinancing eliminated variable-rate debt exposure, leaving no debt maturities until 2029; the quarterly dividend more than doubled to USD 0.10 a share.
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