Possible breakout very soon in Industrial Logistics Trust

30 Jul 2019

Results for the Quarter Ended June 30, 2019:
Net income for the quarter ended June 30, 2019 was $13.1 million, or $0.20 per share, compared to $18.7 million, for the same quarter last year. Normalized funds from operations, or Normalized FFO, for the quarter ended June 30, 2019 were $29.8 million, or $0.46 per share, compared to $25.6 million for the same quarter last year.
John Murray, President and Chief Executive Officer of ILPT, made the following statement
"During the second quarter, ILPT continued to execute on our business plan, which included strong leasing activity, and the completion of two previously announced portfolio acquisitions. These properties have been integrated into our existing portfolio operations with the expertise and support of The RMR Group’s real estate professionals across the country. We also completed approximately 359,000 square feet of new and renewal leasing, which resulted in weighted average rental rates that are approximately 27.5% higher than prior rental rates for the same space, with a weighted average lease term of 11.0 years."


AVERAGE ANALYSTS PRICE TARGET
AVERAGE ANALYSTS RECOMMENDATION
P/E RATIO 19
SHORT INTEREST 3.4%

COMPANY PROFILE
Industrial Logistics Properties Trust is a real estate investment trust, which owns and leases industrial and logistics buildings and leased industrial lands. The company was founded on September 15, 2017 and is headquartered in Newton, MA.