Industrial Logistics Properties Trust Announces Quarterly Dividend on Common Shares

Rhea-AI Summary

Industrial Logistics Properties Trust (Nasdaq: ILPT) announces a quarterly cash distribution of $0.01 per share, totaling $0.04 annually. This payment will be issued to shareholders on record by January 23, 2023, with distribution expected on or about February 16, 2023. ILPT focuses on logistics properties, boasting a portfolio of 413 properties and 60 million rentable square feet across 39 states. Over 78.1% of annual rental revenue is sourced from investment grade tenants, underscoring its strong financial foundation.

Positive

• Quarterly cash distribution of $0.01 per share represents $0.04 annually.
• More than 78.1% of revenue from investment grade tenants reinforces stability.
• Portfolio includes 413 properties with approximately 60 million rentable square feet.

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 January 23, 2023 and distributed on or about February 16, 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 September 30, 2022, ILPT’s portfolio consisted of 413 properties containing approximately 60.0 million rentable square feet located in 39 states. More than 78.1% of ILPT’s annual rental revenues as of September 30, 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 September 30, 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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230111005951/en/

Kevin Barry, Director, Investor Relations

(617) 219-1489

Source: Industrial Logistics Properties Trust

FAQ

What is the dividend amount for ILPT shareholders in 2023?

The dividend amount for ILPT shareholders is $0.01 per share, equating to $0.04 per share annually.

When will the quarterly dividend be paid to ILPT shareholders?

The quarterly dividend will be distributed on or about February 16, 2023.

What percentage of ILPT's revenue comes from investment grade tenants?

Over 78.1% of ILPT's annual rental revenues are derived from investment grade tenants.

How many properties does ILPT own as of September 2022?

As of September 30, 2022, ILPT owns 413 properties.