Industrial Logistics Properties Trust (ILPT) Company Report

Industrial Logistics Properties Trust (ILPT) reported strong Q3 2025 results, with normalized FFO increasing 116% year-over-year to $0.26 per share and same property cash basis NOI up 3% compared to the prior year.
The company maintained a consolidated occupancy of 94.1% and completed 836,000 square feet of leasing in Q3, achieving weighted average rental rates 22% higher than prior rates.
ILPT has identified three properties for sale totaling 867,000 square feet, with an anticipated combined sales price of approximately $55 million, and recognized a $6.1 million impairment charge on one of these properties.
For Q4 2025, ILPT expects normalized FFO to be between $0.27 and $0.29 per share (excluding incentive fees) and Adjusted EBITDA-RE between $84 million and $85 million.

Oct 29, 2025, 2:00 PM

ILPT Reports Strong Q3 2025 Financial Results and Provides Q4 Guidance

ILPT

Earnings

Guidance Update

Debt Issuance

Industrial Logistics Properties Trust (ILPT) reported Q3 2025 normalized FFO of $0.26 per share, representing a 116% increase year-over-year, and same property cash basis NOI grew 3% compared to the prior year period.
The company maintained a consolidated occupancy of 94.1% and completed 836,000 square feet of leasing during the quarter, with weighted average rental rates 22% higher than prior rates for the same space.
ILPT has identified three properties for sale totaling 867,000 square feet, with an anticipated combined sales price of approximately $55 million, expected to close in Q4 2025 and early 2026.
For Q4 2025, ILPT expects normalized FFO to be between $0.27 and $0.29 per share (excluding incentive fees) and adjusted EBITDA-RE between $84 million and $85 million.

Oct 29, 2025, 2:00 PM

Industrial Logistics Properties Trust Announces Q3 2025 Financial Results

ILPT

Earnings

Dividends

Industrial Logistics Properties Trust (ILPT) reported a net loss attributable to common shareholders of $21.6 million, or $0.33 per diluted share, for Q3 2025, with Normalized FFO attributable to common shareholders of $17.4 million, or $0.26 per diluted share, and Adjusted EBITDAre of $84.1 million.
The company declared a quarterly distribution of $0.05 per share on October 9, 2025, payable around November 13, 2025, which represents an increase from $0.01 per share.
Operational highlights for Q3 2025 include 836,000 square feet of leasing activity at weighted average rental rates 22.4% higher than prior rates for the same space, and a 2.9% increase in same property NOI to $86.4 million compared to Q3 2024.
Interest expense decreased by $10.5 million, or 14.2%, compared to the third quarter of 2024, and ILPT ended Q3 2025 with $83.2 million of cash on hand.

Oct 29, 2025, 2:00 PM

ILPT Reports Strong Q3 2025 Financial Results and Provides Q4 Guidance

ILPT

Earnings

Guidance Update

New Projects/Investments

Industrial Logistics Properties Trust (ILPT) reported Q3 2025 normalized FFO of $0.26 per share, representing a 116% increase year-over-year, and same property cash basis NOI grew 3% compared to the prior year.
The company achieved 94.1% consolidated occupancy in Q3 2025, completing 836,000 sq ft of leasing at weighted average rental rates 22% higher than prior rates for the same space.
ILPT has identified three properties for sale totaling 867,000 sq ft for an anticipated combined sales price of approximately $55 million, with proceeds from one sale intended to partially repay a $700 million loan due in 2032. A $6.1 million impairment charge was recognized on one of these properties.
For Q4 2025, ILPT expects normalized FFO to be between $0.27-$0.29 per share (excluding incentive fees) and Adjusted EBITDA-RE between $84 million-$85 million.

Oct 29, 2025, 2:00 PM

ILPT Reports Q3 2025 Financial Results

ILPT

Earnings

Revenue Acceleration/Inflection

Industrial Logistics Properties Trust (ILPT) reported third quarter 2025 revenue of $110.9 million, a 1.8% increase year-over-year, with Funds From Operations (FFO) of $0.26 per share matching consensus estimates.
The company achieved a 2.6% increase in net operating income to $86.95 million and a 13.7% rise in net income available to common stockholders to $21.6 million for the quarter.
Rent resets on approximately 204,000 square feet of Hawaii land properties during the nine months ended September 30, 2025, resulted in 29.1% higher rental rates.
As of September 30, 2025, 76% of ILPT's annualized rental revenues are derived from investment grade tenants, subsidiaries of investment grade entities, or Hawaii land leases.

Oct 28, 2025, 11:21 PM

Industrial Logistics Properties Trust Announces Third Quarter 2025 Results

ILPT

Earnings

Dividends

Revenue Acceleration/Inflection

Industrial Logistics Properties Trust (ILPT) announced its financial results for the third quarter ended September 30, 2025.
For Q3 2025, ILPT reported a net loss attributable to common shareholders of $21.6 million, or $0.33 per diluted share, and Normalized FFO attributable to common shareholders of $17.4 million, or $0.26 per diluted share.
The company's same property Net Operating Income (NOI) increased by 2.9% to $86.4 million, and same property Cash Basis NOI increased by 3.0% to $84.2 million, both compared to the third quarter of 2024.
ILPT executed approximately 836,000 square feet of total leasing activity at weighted average rental rates 22.4% higher than prior rates and declared a quarterly cash distribution of $0.05 per share, an increase from $0.01 per share.

Oct 28, 2025, 8:39 PM

Industrial Logistics Properties Trust Reports Q2 2025 Results and Debt Refinancing

ILPT

Earnings

Debt Issuance

Dividends

Industrial Logistics Properties Trust (ILPT) reported a Normalized FFO attributable to common shareholders of $13.8 million, or $0.21 per share, and a net loss attributable to common shareholders of $(21.3) million, or $(0.32) per share, for the three months ended June 30, 2025.
The company completed a significant debt refinancing in Q2 2025, converting $1.235 billion of floating rate debt to a new $1.16 billion fixed-rate mortgage due in 2030, which is expected to generate $8.5 million in annual cash savings ($0.13 per share) and led to an increase in the quarterly dividend to $0.05 per share.
As of June 30, 2025, ILPT's portfolio consists of 411 industrial and logistics properties with 59 million rentable square feet, maintaining a 94% occupancy rate and a weighted average remaining lease term of 7.6 years.
Approximately 76% of ILPT's annualized rental revenues are derived from investment grade tenants, subsidiaries of investment grade rated entities, or Hawaii land leases.
Strategic priorities for 2025 and beyond include refinancing the $1.4 billion Mountain JV loan and evaluating additional deleveraging opportunities, including the sale of one property expected to yield $50 million in proceeds.