earnings
confidence high
sentiment neutral
materiality 0.75
ILPT Q2 net loss $2.20/sh on $100.7M impairment; Normalized FFO $0.43
Industrial Logistics Properties Trust
2022-Q2 EPS reported
-$2.30
- Net loss attributable to common shareholders of $143.5M ($2.20/diluted share) includes $100.7M impairment on properties reclassified from held for sale.
- Normalized FFO attributable to common shareholders was $28.3M, or $0.43 per share, down 8.5% YoY from $0.47.
- Leased 3.9M square feet at weighted average rental rates 61.3% higher than prior rates for same space.
- Same property cash basis NOI increased 2.6% to $39.9M; occupancy was 98.9% (99.3% same property).
- Company cites unanticipated interest rate increases delaying long-term financing plan for Monmouth acquisition.