Industrial Logistics Properties Trust (NASDAQ:ILPT) Q4 2021 Earnings Conference Call February 16, 2022 10:00 AM ET Company Participants Kevin Barry - Director of IR John Murray - CEO Rick Siedel - CFO Yael Duffy - COO Conference Call Participants Bryan Maher - B. Riley Jason Idoine - RBC Capital Markets Tom Catherwood - BTIG Jamie Feldman - Bank of America Operator Good morning, and welcome to the Industrial Logistics Properties Trust Fourth Quarter 2021 Earnings Conference Call. [Operator Instructions] I w ...

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, 2021 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) Maryland 82-2809631 (State of Organization) (IRS Employer Identification No.) T ...

Industrial Logistics Properties Trust Brands, Inc. (NASDAQ:ILPT) Q3 2021 Earnings Conference Call October 28, 2021 10:00 AM ET Company Participants Kevin Barry - Manager, IR John Murray - President, CEO & Managing Trustee Yael Duffy - VP & COO Richard Siedel - CFO & Treasurer Conference Call Participants Bryan Maher - B. Riley Securities Jason Idoine - RBC Capital Markets Operator Good morning, and welcome to the Industrial Logistics Properties Trust Third Quarter 2021 Earnings Conference Call. [Operator In ...

Property and Occupancy - As of September 30, 2021, the company owned 294 properties with approximately 36.5 million rentable square feet, achieving a consolidated occupancy rate of 99.0%[70] - The average remaining lease term for consolidated properties was approximately 9.0 years as of September 30, 2021[70] - As of September 30, 2021, only 0.1% of total leased square feet and 0.2% of total annualized rental revenues were scheduled to expire by December 31, 2021[81] - Tenants representing 1% or more of total annualized rental revenues accounted for 53.0% of total leased square feet and 48.3% of annualized rental revenues[84] Rental Income and Rates - The average effective rental rate per square foot for all properties increased to $6.22 for the three months ended September 30, 2021, compared to $6.03 for the same period in 2020, reflecting a growth of 3.2%[75] - During the three months ended September 30, 2021, the company completed new leases for 17,000 square feet with a weighted average rental rate change of 24.2%[77] - The company completed rent resets for approximately 47,000 square feet in Hawaii, achieving rental rates approximately 34.5% higher than prior rates[79] - Mainland Properties contributed approximately 50.7% of annualized rental revenues, with expectations for lease renewals due to tenant investments[85] - Hawaii Properties represented approximately 49.3% of annualized rental revenues, with rents periodically resetting based on fair market values[86] - Scheduled rent resets at Hawaii Properties total $27,763,000, with significant resets occurring in 2026 and thereafter[89] Financial Performance - Rental income for Q3 2021 was $53,138, a 2.7% increase from $51,741 in Q3 2020, while consolidated rental income decreased by 15.6% to $54,981 from $65,106[100] - Net operating income for Q3 2021 was $40,194, reflecting a 3.0% decrease from $41,397 in Q3 2020, with consolidated net operating income down 15.1% to $42,947 from $50,559[100] - Net income attributable to common shareholders increased by 29.9% to $18,307 in Q3 2021 from $14,089 in Q3 2020, resulting in a basic earnings per share of $0.28, up 27.3% from $0.22[100] - Rental income for the nine months ended September 30, 2021, was $163,378, a decrease of 16.0% compared to $194,494 in 2020[1] - Net operating income (NOI) for the nine months ended September 30, 2021, was $127,291, down 16.2% from $151,982 in 2020[1] - Net income attributable to common shareholders increased by 35.3% to $56,475 for the nine months ended September 30, 2021, compared to $41,756 in 2020[1] Expenses and Costs - Total other expenses decreased by 26.9% to $17,422 in Q3 2021 from $23,846 in Q3 2020, primarily due to lower depreciation and amortization costs[100] - Interest expense decreased by 29.5% to $9,084 in Q3 2021 from $12,886 in Q3 2020, attributed to lower average outstanding indebtedness[108] - General and administrative expenses decreased by 8.7% to $4,728 in Q3 2021 from $5,180 in Q3 2020, mainly due to reduced business management fees[107] - Total operating expenses decreased by 15.1% to $36,087 for the nine months ended September 30, 2021, from $42,512 in 2020[1] - Depreciation and amortization expenses decreased by 32.7% to $37,202 for the nine months ended September 30, 2021, compared to $55,303 in 2020[1] - Interest expense decreased by 34.8% to $26,468 for the nine months ended September 30, 2021, from $40,610 in 2020[1] Acquisitions and Investments - During the nine months ended September 30, 2021, the company acquired four industrial properties and one parcel of land for a total of $134,730,000[91] - An agreement was made in October 2021 to acquire a property in Detroit for $120,000,000, pending conditions[92] - A joint venture with an Asian institutional investor involved 12 properties, generating $108,676,000 for a 39% equity interest[93] - The company recorded an increase in the fair value of its joint venture investment of $5,455,000 for the nine months ended September 30, 2021[97] - Cash distributions from the joint venture amounted to $1,980,000 during the nine months ended September 30, 2021[97] Debt and Financing - The principal debt obligations included $650,000 in non-recourse mortgage loans scheduled to mature in 2029[137] - As of September 30, 2021, the company was in compliance with all covenants and terms under its credit agreement and mortgage loan agreement, which require a minimum consolidated net worth of at least $250,000 and liquidity of at least $15,000[153] - The company's fixed rate debt includes mortgage notes for 186 properties in Hawaii, with a principal balance of $650,000 and an annual interest rate of 4.31%, resulting in annual interest payments of $28,015[156] - A one percentage point increase in interest rates would increase the annual interest cost of the fixed rate mortgage notes by approximately $6,500[157] - The company has $354,000 in floating rate debt under its revolving credit facility, which matures on December 29, 2021[159] - A one percentage point increase in interest rates would raise the annual floating rate interest expense from $4,921 to $8,461, impacting earnings per share by $(0.13)[161] Shareholder Distributions - The company paid quarterly cash distributions totaling $64,653 to shareholders during the nine months ended September 30, 2021[145] - A regular quarterly distribution of $0.33 per common share, totaling approximately $21,600, was declared on October 14, 2021[146] Other Financial Metrics - The company recognized $1.168 million in accounts receivable related to deferred rent amounts as of September 30, 2021[71] - The company reported a non-cash straight-line rent adjustment of approximately $5,673 for the 2021 period[1] - The company’s equity in earnings of investees was $5,455 for the nine months ended September 30, 2021, compared to no earnings in 2020[1] - For the three months ended September 30, 2021, FFO attributable to common shareholders was $30,278, compared to $29,939 for the same period in 2020, reflecting a 1.1% increase[130] - For the nine months ended September 30, 2021, Normalized FFO attributable to common shareholders was $91,549, up from $90,845 in 2020, indicating a 0.8% increase[130]

Industrial Logistics Properties Trust (NASDAQ:ILPT) Q2 2021 Earnings Conference Call July 29, 2021 10:00 AM ET Company Participants Kevin Barry – Manager of Investor Relations John Murray – Chief Executive Officer Yael Duffy – Chief Operating Officer Rick Siedel – Chief Financial Officer Conference Call Participants Bryan Maher – B. Riley Securities Elvis Rodriguez – Bank of America Tom Catherwood – BTIG Aaron Hecht – JMP Securities Operator Good morning, and welcome to Industrial Logistics Properties Trust ...

9475 East Pendleton Pike Lawrence, IN 534,769 Square Feet 1 | --- | --- | --- | --- | --- | --- | |-------------------------------------------|-------|-------|-------|-------|-------| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | SECOND QUARTER 2021 | | | | | | | Supplemental Operating | | | | | | | and Financial Data | | | | | | | ALL AMOUNTS IN THIS REPORT ARE UNAUDITED. | | | | | | Table of Contents CORPORATE INFORMATION Company Profile ...

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 June 30, 2021 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 (State or Other Jurisdiction of Incorporation or Organization) (IRS Employer Identification No.) Two Newton Place, 255 Washington Street, Suite 300, Newton, Massachusetts 02458-1634 (Address of Princip ...

Industrial Logistics Properties Trust (NASDAQ:ILPT) Q1 2021 Earnings Conference Call April 27, 2021 10:00 AM ET Company Participants Kevin Barry - Manager, IR John Murray - CEO Rick Seidel - CFO Yael Duffy - COO Conference Call Participants Bryan Maher - B. Riley Securities Jamie Feldman - Bank of America Merrill Lynch Tom Catherwood - BTIG Jason Idoine - RBC Capital Markets Operator Good morning. And welcome to Industrial Logistics Properties Trust First Quarter 2021 Financial Results Conference call. All ...

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, 2021 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) Maryland 82-2809631 (State or Other Jurisdiction of Incorporation or Organ ...

INVESTOR PRESENTATION FEBRUARY 2021 5300 Centerpoint Parkway, Groveport, OH INDUSTRIAL LOGISTICS PROPERTIES TRUST 2 WARNING REGARDING FORWARD LOOKING STATEMENTS This presentation contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and other securities laws. Also, whenever ILPT uses words such as "believe", "expect", "anticipate", "intend", "plan", "estimate", "will", "may" and negatives or derivatives of these or similar expressions, ILPT is making ...