Industrial Logistics Properties Trust (ILPT) Misses Q4 EPS by 2c, Revenues Beat

Industrial Logistics Properties Trust (NASDAQ: ILPT) reported Q4 EPS of $0.18, $0.02 worse than the analyst estimate of $0.20. Revenue for the quarter came in at $62.2 million versus the consensus estimate of $61.41 million.

• Fourth Quarter Net Income of $0.18 Per Share
• Fourth Quarter Normalized FFO of $0.46 Per Share
• Fourth Quarter Same Property Cash Basis NOI Increased by 5.5% Compared to the Same Period Last Year
• Completed First Joint Venture, Raising Equity Capital to Reduce Debt at Net Asset Value

“We saw continued solid performance in the fourth quarter, executing on our business plan with strong leasing activity and rent growth that resulted in a same property Cash Basis NOI increase of 5.5%. We are also happy to have completed two exciting transactions subsequent to year end, closing our first joint venture on a portfolio of U.S. mainland properties which will reduce our leverage and demonstrates the value of our mainland portfolio, and acquiring an 820,000 square foot Class A e-commerce distribution center near Phoenix, AZ.”

For earnings history and earnings-related data on Industrial Logistics Properties Trust (ILPT) click here.

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