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Industrial Logistics Properties Trust Announces Quarterly Dividend on Common Shares
Rhea-AI Impact
(Low)
Rhea-AI Sentiment
(Neutral)
Tags
dividends
Rhea-AI Summary
Industrial Logistics Properties Trust (Nasdaq: ILPT) has announced a regular quarterly cash distribution of $0.01 per common share, equating to $0.04 annually. This distribution will be paid to shareholders of record as of April 24, 2023, and is set to be distributed on or about May 18, 2023.
As of December 31, 2022, ILPT’s portfolio comprises 413 properties with approximately 60.0 million rentable square feet across 39 states. Notably, over 78% of ILPT's annual rental revenue comes from investment-grade tenants. The company is managed by The RMR Group, which oversees more than $37 billion in assets. ILPT operates as a Maryland Real Estate Investment Trust focused on logistics properties crucial for the e-commerce sector.
Positive
Quarterly cash distribution of $0.01 per share, contributing to shareholder income.
78% of annualized rental revenues from investment-grade tenants enhancing financial stability.
Negative
None.
NEWTON, Mass.--(BUSINESS WIRE)--
Industrial Logistics Properties Trust (Nasdaq: ILPT) today announced a regular quarterly cash distribution on its common shares of $0.01 per common share ($0.04 per share per year). This distribution will be paid to ILPT’s common shareholders of record as of the close of business on April 24, 2023 and distributed on or about May 18, 2023.
About Industrial Logistics Properties Trust
Industrial Logistics Properties Trust (Nasdaq: ILPT) is a real estate investment trust, or REIT, focused on owning and leasing high quality distribution and logistics properties that serve the growing needs of e-commerce. As of December 31, 2022, ILPT’s portfolio consisted of 413 properties containing approximately 60.0 million rentable square feet located in 39 states. More than 78% of ILPT’s annualized rental revenues as of December 31, 2022 are derived from investment grade tenants, tenants that are subsidiaries of investment grade rated entities or Hawaii land leases. ILPT is managed by The RMR Group (Nasdaq: RMR), a leading U.S. alternative asset management company with over $37 billion in assets under management as of December 31, 2022 and more than 35 years of institutional experience in buying, selling, financing and operating commercial real estate. ILPT is headquartered in Newton, MA. For more information, visit www.ilptreit.com.
WARNING CONCERNING FORWARD-LOOKING STATEMENTS
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and other securities laws. These forward-looking statements are based upon ILPT’s present intent, beliefs and expectations, but these statements and the implications of these statements are not guaranteed to occur and may not occur for various reasons, some of which are beyond ILPT’s control.
For example, this press release states that ILPT’s regular quarterly cash distribution rate is $0.01/ share per quarter or $0.04/share per year. A possible implication of this statement is that ILPT will continue to pay quarterly distributions of $0.01/share per quarter or $0.04/share per year in the future. ILPT’s distribution rate may be set and reset from time to time by ILPT’s Board of Trustees. ILPT’s Board of Trustees considers many factors when setting or resetting ILPT’s distribution rate, including ILPT’s funds from operations attributable to common shareholders, normalized funds from operations attributable to common shareholders, requirements to maintain ILPT’s qualification for taxation as a REIT, limitations in ILPT’s debt agreements, the availability to ILPT of debt and equity capital, ILPT’s dividend yield and its dividend yield compared to the dividend yields of other industrial REITs, ILPT’s expectation of its future capital requirements and operating performance, ILPT’s expected needs for and availability of cash to pay its obligations and other factors deemed relevant by ILPT’s Board of Trustees in its discretion. Accordingly, future distributions to ILPT’s shareholders may be increased or decreased and ILPT cannot be sure as to the rate at which future distributions will be paid.
You should not place undue reliance upon forward-looking statements.
Except as required by law, ILPT does not intend to update or change any forward-looking statements as a result of new information, future events or otherwise.
A Maryland Real Estate Investment Trust with transferable shares of beneficial interest listed on the Nasdaq.
No shareholder, Trustee or officer is personally liable for any act or obligation of the Trust.
