ILPT Q3 2021: EPS $0.28, Normalized FFO $0.46; 818K sf leased at 20.5% higher rents

Industrial Logistics Properties Trust

2021-Q3 EPS reported $0.86

Net income attributable to common shareholders of $18.3M ($0.28/diluted share); Normalized FFO $0.46/share.
Same property cash basis NOI grew 3.4% YoY; portfolio occupancy held at 99.0%.
Closed $100M acquisition of 3 Class A industrial buildings (1.3M sf) in Memphis, 100% leased, GAAP cap rate 4.7%.
Leasing activity of 818K sf at weighted average rent 20.5% above prior rents; weighted average lease term 8.2 years.
Cash and equivalents $44.1M; $396.0M available under revolving credit facility as of Sept 30.

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