earnings
confidence high
sentiment negative
materiality 0.75
ILPT Q1 net loss $0.10/sh; Normalized FFO $0.42; same property NOI +3.1%
Industrial Logistics Properties Trust
2022-Q1 EPS reported
-$0.10
- Net loss attributable to common shareholders $6.5M ($0.10 per share) vs prior year net income of $0.30 per share.
- Normalized FFO attributable to common shareholders $27.6M ($0.42 per share) vs $0.47 in prior year.
- Same property cash basis NOI increased 3.1% to $39.1M; portfolio occupancy 98.9%, same property 99.3%.
- Completed ~$3.8B acquisition of Monmouth Real Estate in Feb 2022; formed JV selling 39% stake for ~$587M.
- Leasing activity 885k sf at 27.9% higher rents; weighted avg lease term 8.9 years.