Industrial Logistics Properties Trust Common Shares of Beneficial Interest - ILPT STOCK NEWS

Industrial Logistics Properties Trust (Nasdaq: ILPT) announced a quarterly cash dividend of $0.33 per share, equating to $1.32 annually. Shareholders of record by January 24, 2022 will receive this payment on or about February 17, 2022. ILPT focuses on high-quality logistics properties, maintaining a portfolio of approximately 290 properties across 30 states, with 70% of its annual revenues coming from investment-grade tenants. It's managed by The RMR Group, which oversees over $32 billion in assets.

Industrial Logistics Properties Trust (Nasdaq: ILPT) has announced an agreement to acquire six industrial properties for approximately $206 million. These fully leased properties, totaling 2.5 million square feet, will lead to net proceeds of about $190 million for ILPT. The funds will be used to pay down part of the $750 million revolving credit facility. The joint venture, now holding 11.7 million square feet across 18 properties, is managed by The RMR Group (Nasdaq: RMR).

Industrial Logistics Properties Trust (Nasdaq: ILPT) reported third quarter net income of $0.28 per share, representing a 27.3% year-over-year increase. The company achieved 818,000 square feet of leasing activity with an average rental rate increase of over 20%. Normalized funds from operations (FFO) remained stable at $0.46 per share. Same property cash basis net operating income (NOI) increased by 3.4%. ILPT's portfolio occupancy was 99%, and the company acquired three Class A industrial buildings for $100 million during the quarter.

Industrial Logistics Properties Trust (Nasdaq: ILPT) has announced a quarterly cash distribution of $0.33 per share, translating to $1.32 annually. This distribution will be paid to shareholders of record as of October 25, 2021, with payment expected on or about November 18, 2021. The announcement highlights ILPT's ongoing commitment to providing returns to its investors. However, the company warns that future dividend rates may fluctuate based on various factors, including income and cash availability.

Industrial Logistics Properties Trust (Nasdaq: ILPT) has amended its business management agreement with The RMR Group (Nasdaq: RMR) to replace the SNL U.S. REIT Industrial Index with the MSCI U.S. REIT/Industrial REIT Index for calculating incentive management fees, effective August 1, 2021. Historical returns from the SNL index will be utilized until that date. ILPT owns 291 properties, totaling 35.2 million rentable square feet, and maintains a high lease occupancy rate of approximately 99% with an average lease term of 9.2 years.

Industrial Logistics Properties Trust (Nasdaq: ILPT) will release its third-quarter 2021 financial results after Nasdaq closes on October 27, 2021. A conference call hosted by CEO John Murray, CFO Richard Siedel, and COO Yael Duffy is scheduled for October 28, 2021, at 10:00 a.m. ET. Participants can join via phone or listen through a live audio webcast on the company's website. The replay will be available until November 4, 2021.

The RMR Group Inc. (Nasdaq: RMR) appointed Andrew Fay as Senior Vice President to lead a new capital markets team aimed at sourcing private capital for real estate investments. Fay, with 30 years of financial industry experience, previously led family office services at Fidelity Investments. RMR has successfully attracted nearly $1 billion in investments from sovereign wealth funds, highlighting its strong track record in managing core real estate assets worth over $32 billion. The company expects Fay's expertise to strengthen relationships with ultra-high net worth individuals and institutional investors.

Industrial Logistics Properties Trust (Nasdaq: ILPT) reported strong second quarter results, with occupancy at 99% and 564,000 square feet in leases signed. The company achieved a weighted average rental rate increase of approximately 18% compared to previous rates. Net income for the quarter reached $18.8 million, or $0.29 per diluted share, a significant 26.1% increase from the same period last year. ILPT remains focused on external growth, having recently acquired a property in Columbus, Ohio, while maintaining $530 million in liquidity, positioning itself well for future investments.