Industrial Logistics Properties Trust

Industrial Logistics Properties Trust

ILPT
Industrial Logistics Properties TrustUS flagNASDAQ Global Select
7.76
USD
+0.10
- -
517.95MMarket Cap
2015 Y
2016 Y
2017 Y
2018 Y
2019 Y
2020 Y
2021 Y
2022 Y
2023 Y
2024 Y
2025 Y
TTM
Revenue per Share
2.28
2.36
2.41
2.53
3.52
3.91
3.37
5.95
6.68
6.73
6.8
6.88
Basic EPS, GAAP
1.1
1.34
1.23
1.16
0.81
1.26
1.84
-3.47
-1.65
-1.46
-1
-0.71
Free Cash Flow per Basic Share
1.35
1.68
1.59
1.51
1.79
1.76
1.7
1.28
0.09
0.03
0.92
1.04
Dividend per Share
2.24
2.37
2.37
1.09
1.32
1.32
1.32
0.68
0.04
0.04
0.12
0.2
Book Value per Share
20.53
20.2
8.65
15.8
15.28
15.36
15.87
12.06
10.17
8.5
7.35
6.91
Tangible Book Value per Share
18.98
18.82
7.43
14.64
13.15
15.36
15.87
12.06
10.17
8.5
7.35
6.91
Basic Weighted Avg Shares
65
65
65
64
65
65
65
65
65
66
66
66
Sales/Revenue/Turnover
148
153
157
163
229
255
220
388
437
442
449
455
Operating Margin (%)
60.22
58.21
53.42
55.56
44.54
42.64
47.18
29.06
29.54
31.37
32.96
32.85
Depreciation Expense
24
26
26
27
60
68
49
155
175
167
159
158
Net Income, GAAP
72
87
80
74
52
82
120
-227
-108
-96
-66
-47
Effective Tax Rate (%)
0.06
0.05
0.05
0.04
0.33
0.34
0.35
- -
- -
- -
- -
- -
Profit Margin (%)
48.44
56.68
51.18
45.77
22.9
32.24
54.43
-58.41
-24.69
-21.63
-14.75
-10.37
Working Capital
27
30
-722
-365
-240
-151
-107
169
287
290
235
233
LT Debt
89
87
70
68
1,114
660
659
4,267
4,324
4,315
4,205
4,194
Total Equity
1,334
1,313
562
1,028
996
1,003
1,038
1,331
1,162
1,009
901
841
Return on Invested Capital (%)
- -
6.32
6.01
6.25
5.18
5.03
5.6
- -
- -
- -
- -
- -
Return on Capital (%)
- -
6.32
5.93
6.26
5.25
6.24
8.25
- -
- -
- -
- -
- -
Return on Common Equity (%)
- -
6.56
8.54
9.35
5.19
8.21
11.73
-24.8
-14.79
-15.53
-12.59
-9.63

Capital Structure

FRC

in mil. unless spec.
Dec'25
Mar'26
Jun'26
ST Debt
- -
- -
- -
LT Borrowings
4,193
4,189
4,184
LT Finance Leases
12
11
10
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
67
67
67
Market Capitalization
369
379
592

Working Capital

FRC

in mil. unless spec.
Dec'25
Mar'26
Jun'26
Total Current Assets
320
323
321
Cash, Cash Equivalents & STI
95
100
135
Accounts Receivable, Net
137
138
139
Inventories
- -
- -
- -
Total Current Liabilities
84
83
88
Payables & Accruals
84
83
88
ST Debt
- -
- -
- -
Deferred Revenue
- -
- -
- -

Growth Rates

FRC

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
1.68%
-0.98%
-10.76%
Free Cash Flow
283.41%
560.46%
2,990.78%
Net Income, GAAP
-30.5%
-67.64%
-30.82%
Sales/Revenue/Turnover
13.99%
15.64%
1.48%
Total Cash Common Dividend
3.49%
12.06%
202.24%

Quarterly Revenue

FRC

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
112
111
109
111
442
2025
112
112
111
114
449
2026
116
114
- -
- -
- -

Quarterly Earnings Per Share

FRC

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
-0.36
-0.35
-0.38
-0.37
-1.46
2025
-0.33
-0.32
-0.33
- -
-1
2026
-0.14
-0.22
- -
- -
- -

Quarterly Dividends Per Share

FRC

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
0.01
0.01
0.01
0.01
0.04
2025
0.01
0.01
0.05
- -
0.12
2026
0.05
0.05
- -
- -
- -

Company Description

CEO
Yael Duffy
Sector
Real Estate
Industry
REIT - Industrial
Address
Two Newton Place Newton MA United States of America 02458-1634
IPO Date
Jan 12, 2018
Business
Industrial Logistics Properties Trust (ILPT) is a real estate investment trust (REIT) specializing in owning and leasing high-quality industrial and logistics properties across the United States. Its portfolio, as of September 30, 2025, consists of 411 properties totaling approximately 59.9 million rentable square feet, including 226 buildings and leasable land parcels primarily industrial lands on the island of Oahu, Hawaii, and 185 industrial and logistics facilities in 38 other mainland states. ILPT's core offerings include industrial buildings, logistics warehouses, and leased industrial lands catering primarily to e-commerce companies, third-party logistics providers, and manufacturing tenants, with about 76% of its annualized rental revenue derived from investment-grade tenants or entities affiliated with them. The Trust focuses on strategic growth fueled by the rise of e-commerce and the shift in retail from physical stores to online platforms, driving demand for logistics real estate. Recently, ILPT completed a significant acquisition of Monmouth Real Estate Investment Corporation in an all-cash transaction valued at approximately $4 billion, which enhanced ILPT’s scale, tenant base, and geographic diversity while expanding its portfolio of high-quality, e-commerce-focused properties. Concurrently, ILPT formed a joint venture with an institutional investor for 95 Monmouth properties, leveraging partnerships to optimize capital structure and operational efficiency. Additionally, ILPT has reported stable portfolio performance throughout 2025 and plans small property disposals in the near term to refine its asset mix. The company also increased its quarterly distribution and continues to pursue disciplined capital management and selective acquisitions to capitalize on the robust industrial real estate market fundamentals. ILPT operates primarily in the industrial real estate sector, targeting key logistics markets in 39 U.S. states, with a strong emphasis on properties facilitating supply chain and distribution efficiencies. Founded in 2016 and headquartered in Newton, Massachusetts, ILPT is managed by The RMR Group, an alternative asset management company with extensive experience in commercial real estate. The Trust’s business model is centered on long-term leasing agreements with a weighted average lease term of 7.8 years, supporting stable and predictable cash flows. ILPT remains committed to sustainability and operational excellence, aiming to deliver value to shareholders through strategic growth, efficient capital allocation, and a tenant-focused approach to property management.

Company News

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