Industrial Logistics Properties Trust Second Quarter 2024 Financial Results and Supplemental Information July 30, 2024 Quarterly Results RETURN TO TABLE OF CONTENTS P = = = 7 - 1 7 7 6 INDUSTRIAL LOGISTICS PROPERTIES TRUST ANNOUNCES SECOND QUARTER 2024 FINANCIAL RESULTS "Operating results for ILPT's second quarter remained strong as we executed 628,000 square feet of new and renewal leases at weighted average rental rates that were 15.8% higher than prior rental rates for the same space and saw same propert ...

031 # II 1 用 Shares of Industrial Logistics Properties Trust (NASDAQ:ILPT) have been nearly decimated since the company employed a lot of leverage following an ill-time acquisition, amidst higher interest rates and some governance issues as well. This means that shares trade discounted during an era of near 100% occupancy rates and decent rental growth. In fact, shares trade at a fraction of book value, with investors having to hope for a lower interest rate environment and/or asset sales, and governance im ...

Industrial Logistics Properties Trust (NASDAQ:ILPT) Q1 2024 Results Conference Call May 1, 2024 10:00 AM ET Company Participants Kevin Brady - IR Yael Duffy - President & COO Tiffany Sy - CFO & Treasurer Conference Call Participants Bryan Maher - B. Riley FBR Mitch Germain - Citizens JMP Operator Good day, and welcome to the Industrial Logistics Properties Trust First Quarter 2024 Earnings Conference Call. [Operator Instructions] This event is being recorded. I would now like to turn the conference over to ...

Industrial Logistics Properties Trust (ILPT) came out with quarterly funds from operations (FFO) of $0.14 per share, beating the Zacks Consensus Estimate of $0.13 per share. This compares to FFO of $0.12 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an FFO surprise of 7.69%. A quarter ago, it was expected that this company would post FFO of $0.12 per share when it actually produced FFO of $0.12, delivering no surprise.Over the last four quarters, t ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission File Number 001-38342 INDUSTRIAL LOGISTICS PROPERTIES TRUST (Exact Name of Registrant as Specified in Its Charter) (State or Other Jurisdiction of Incorporation or Organization) (I.R.S. Emp ...

Table of Contents Industrial Logistics Properties Trust First Quarter 2024 Financial Results and Supplemental Information April 30, 2024 | QUARTERLY RESULTS | | | | --- | --- | --- | | Industrial Logistics Properties Trust Announces First Quarter 2024 Financial Results . | | | | First Quarter 2024 Highlights | 5 | | | FINANCIALS | | | | Key Financial Data . | | | | Condensed Consolidated Statements of Income (Loss). | | | | Condensed Consolidated Balance Sheets | 1-0 100 | | | Debt Summary | 10 | | | Debt M ...

Industrial Logistics Properties Trust (NASDAQ:ILPT) Q4 2023 Earnings Conference Call February 21, 2024 10:00 AM ET Company Participants Stephen Colbert - Director of IR Yael Duffy - President and COO Tiffany Sy - CFO and Treasurer Conference Call Participants Bryan Maher - B. Riley FBR Tom Catherwood - BTIG Mitch Germain - Citizens JPM Securities Operator Good morning, and welcome to the Industrial Logistics Properties Trust Fourth Quarter 2023 Financial Results Conference Call. [Operator Instructions] Plea ...

| | UNITED STATES | | --- | --- | | | SECURITIES AND EXCHANGE COMMISSION | | | WASHINGTON, D.C. 20549 | | | FORM 10-K | | ☒ | ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 | | | For the fiscal year ended December 31, 2023 | | | or | | ☐ | TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 | | | Commission file number 001-38342 | | | INDUSTRIAL LOGISTICS PROPERTIES TRUST | | | (Exact Name of Registrant as Specified in Its Charter) | ...

Leasing Activity - In Q4 2023, Industrial Logistics Properties Trust executed 1,534,000 square feet of total leasing, achieving a weighted average rental rate that was 19.7% higher than prior rents for the same space [6]. - The portfolio's lease renewals accounted for approximately 80% of leasing activity, indicating strong tenant retention and demand for high-quality warehouse and distribution properties [12]. - The company signed 276 new leases during the quarter, a significant increase from 64 new leases in the prior quarter, reflecting a 331.3% quarter-over-quarter growth [35]. - Renewal leases totaled 1,220, up from 694 in the previous quarter, indicating a 76.0% increase in renewal activity [35]. - The percentage change in GAAP rent for new leases was 65.9%, compared to a decrease of 15.7% in the previous quarter, showing a strong recovery in rental rates [35]. - The percentage of properties leased was 98.8% as of December 31, 2023, down from 99.1% in the previous year [34]. - As of December 31, 2023, the occupancy rate was 98.8%, slightly down from 98.9% in the previous quarter [35]. - The weighted average remaining lease term for expiring leases is 7.0 years, with 391 leases expiring in total [38]. Financial Performance - The net loss attributable to common shareholders was $31.2 million, or $0.48 per share, compared to a net loss of $26.1 million in the previous quarter [12]. - Normalized FFO attributable to common shareholders was $8.1 million, or $0.12 per share, consistent with the previous quarter [12]. - Adjusted EBITDAre increased by 4.9% to $83.1 million compared to Q4 2022 [12]. - Same property NOI and same property Cash Basis NOI increased by 3.3% and 4.0%, respectively, compared to the prior year [12]. - Rental income for Q4 2023 was $108,895,000, a 2.4% increase from $106,339,000 in Q4 2022 [17]. - Total expenses decreased to $76,061,000 in Q4 2023 from $77,608,000 in Q4 2022, reflecting a reduction of 2.0% [17]. - The company reported a net loss of $149,719,000 for the year ended December 31, 2023, compared to a net loss of $286,841,000 for the year ended December 31, 2022 [17]. - The total assets decreased to $5,563,675,000 as of December 31, 2023, from $5,676,166,000 as of December 31, 2022 [18]. - The net loss attributable to common shareholders for Q4 2023 was $31,240,000, consistent with the loss of $31,043,000 in Q4 2022 [17]. - The company reported a Cash Basis NOI of $81,453,000 for the three months ended December 31, 2023, compared to $79,931,000 for the same period in 2022, reflecting a growth of 1.9% [65]. Debt and Liquidity - Total gross assets were reported at $5,961.1 million, while total liabilities stood at $4,401.9 million [16]. - The net debt to total gross assets ratio was 68.4% as of December 31, 2023, slightly down from 69.7% a year earlier [24]. - The company aims to focus on organic cash flow growth and reducing leverage while building liquidity in 2024 [7]. - The company sold one property in Asheville, NC for $4.3 million and another in Mesquite, TX for $20.9 million, with proceeds retained to preserve liquidity [12]. - Total debt (principal) stood at $1,740,944,000 as of December 31, 2023, compared to $1,722,070,000 in the previous year, reflecting a slight increase of about 1.3% [48]. - The weighted average interest rate on secured debt was 4.22% as of December 31, 2023, with a total principal balance of $538,700,000 [53]. Investment and Asset Management - Approximately 77% of annualized rental revenues are derived from investment-grade tenants or their subsidiaries [10]. - 76.9% of the company's rental revenues come from investment-grade rated tenants or subsidiaries of investment-grade rated entities [36]. - The company has 40 leases expiring in 2024, representing 8.6% of total leased square feet, with annualized rental revenues of $24,239,000 [38]. - The company has a total of 411 properties, with a total square footage of 59,951,000 [35]. - The joint venture, Mountain Industrial REIT LLC, reported total assets of $3,026,194,000 as of December 31, 2023, down from $3,100,448,000 in 2022, a decrease of approximately 2.4% [48]. - ILPT owns 316 wholly owned properties, comprising approximately 16.7 million rentable square feet in Hawaii and 90 properties in 34 other states [86]. - The Mountain Industrial REIT LLC joint venture owns 94 mainland properties with approximately 21.0 million rentable square feet located in 27 states [88]. Market Position and Outlook - ILPT is included in 117 market indices, comprising more than 1% of several key indices as of December 31, 2023 [58]. - Forward-looking statements reflect ILPT's current expectations and are subject to risks and uncertainties that may cause actual results to differ materially [92]. - ILPT's ability to maintain high occupancy at its properties is critical for sustaining cash flows and meeting distribution obligations [92]. - The company emphasizes the importance of managing leverage and liquidity in the current economic environment [91].

Industrial Logistics Properties Trust (NASDAQ:ILPT) Q3 2023 Earnings Conference Call October 26, 2023 11:00 AM ET Company Participants Stephen Colbert - Director of Investor Relations Yael Duffy - President and Chief Operating Officer Tiffany Sy - Chief Financial Officer and Treasurer Conference Call Participants Bryan Maher - B. Riley Mitch Germain - JMP Securities Operator Good morning, and welcome to Industrial Logistics Properties Trust Third Quarter 2023 Financial Results Conference Call. [Operator Ins ...