Welcome to our dedicated page for INDT news (Ticker: INDT), a resource for investors and traders seeking the latest updates and insights on INDT stock.
Griffin Industrial Realty, symbol INDT, is a distinguished company specializing in the development and management of industrial and commercial facilities. Our mission is to support businesses by providing strategic, responsive, and quality-driven property solutions. We offer high-performing and flexible facilities that cater to the evolving needs of our tenants. Our full-service in-house expertise ensures comprehensive support, fostering close and trusting partnerships that deliver unmatched value.
Our properties are strategically located in prime areas, providing significant economic development benefits and numerous regional amenities. These locations are carefully chosen to enhance business operations and improve accessibility for our tenants. We pride ourselves on our ability to create environments that help businesses thrive.
In recent years, Griffin Industrial Realty has achieved notable milestones. Our portfolio has expanded to include a diverse range of industrial and commercial properties, each designed to meet the highest standards of performance and flexibility. Our current projects include state-of-the-art facilities that are tailored to support various industries, from manufacturing to logistics.
Financially, Griffin Industrial Realty remains robust. Our strategic approach and commitment to quality have translated into solid financial performance, ensuring stability and growth for our stakeholders. We continue to explore new opportunities and partnerships that align with our mission and values, reinforcing our position as a leader in the industry.
Our dedicated team is constantly innovating and adapting to market trends, ensuring that we provide the best possible service to our tenants. Whether you are looking to lease a facility or seeking a long-term partnership, Griffin Industrial Realty offers solutions that cater to your unique business needs.
INDUS Realty Trust (Nasdaq: INDT) has announced the pricing of a public offering of 2,150,000 shares of its common stock at $66.00 per share. The offering includes a 30-day option for underwriters to purchase an additional 322,500 shares. Proceeds will be used to finance acquisitions and developments. The stock will begin trading on October 6, 2021, with closing expected on October 8, 2021. Morgan Stanley and Citigroup are leading the offering management.
On October 5, 2021, INDUS Realty Trust (NASDAQ: INDT) announced the commencement of a public offering of 2,000,000 shares of its common stock, with an option for underwriters to purchase an additional 300,000 shares. The proceeds will be used for acquisitions and development, enhancing its portfolio of industrial/logistics properties. The offering is underpinned by an effective shelf registration statement filed with the SEC.
INDUS Realty Trust (Nasdaq: INDT) reported significant activity in its industrial/logistics portfolio for Q3 2021. The company acquired a 139,500 square foot building in Florida and entered agreements for additional properties in Nashville and Charlotte, totaling over 800,000 square feet for approximately $46.1 million. Leasing operations showed strength with 115,000 square feet in new leases and 145,000 square feet in renewals. The portfolio was 99.4% leased, and INDUS generated approximately $7.4 million from real estate sales. A $100 million revolving credit facility was secured, enhancing financial flexibility.
INDUS Realty Trust (Nasdaq: INDT) announced its participation in the BMO Capital Markets 2021 Real Estate Conference on September 14, 2021. The company will share an updated investor presentation on its website on September 13, 2021. INDUS specializes in the development, acquisition, management, and leasing of industrial/logistics properties, owning 43 buildings totaling approximately 5.3 million square feet across multiple states, including Connecticut, Pennsylvania, North Carolina, and Florida.
INDUS Realty Trust (Nasdaq: INDT) has declared a cash dividend of $0.15 per share for the third quarter of 2021, payable on September 30, 2021. Shareholders of record as of September 16, 2021 will be eligible to receive this dividend. INDUS specializes in developing, acquiring, managing, and leasing industrial/logistics properties, owning 43 buildings totaling approximately 5.3 million square feet across various states, including Connecticut and Florida.
INDUS Realty Trust, Inc. (Nasdaq: INDT) has announced the acquisition of a fully-leased industrial/logistics building in Charlotte, NC, for $14.6 million. This transaction is expected to close in Q4 2021, pending due diligence. With this addition, INDUS will own 1.1 million square feet across five properties in the Charlotte area, enhancing its market position amidst strong anticipated rent growth and limited new supply. Michael Gamzon, CEO of INDUS, expressed optimism about this strategic expansion into a prime submarket.
INDUS Realty Trust (Nasdaq: INDT) reported its Q2 2021 financial results, showing a net loss of $1.2 million, up from $0.7 million in Q2 2020. Total rental revenue increased to approximately $9.8 million from $9.3 million year-over-year. Net Operating Income rose to $7.3 million, and Cash NOI for industrial/logistics properties reached $6.1 million. The company acquired two logistics buildings for $53.7 million and plans further developments in Florida and Tennessee. However, general administrative expenses rose, contributing to the net loss.
INDUS Realty Trust (Nasdaq: INDT) has announced the acquisition of approximately 10.6 acres of undeveloped land in Lehigh Valley, Pennsylvania, for $2.25 million. The deal, contingent on receiving necessary entitlements, is expected to close in the first half of fiscal 2022. Following the acquisition, INDUS plans to construct a 90,000 square foot industrial/logistics building. CEO Michael Gamzon highlighted the strong rent growth and market absorption in the Lehigh Valley as key reasons for this expansion.
INDUS Realty Trust (Nasdaq: INDT) announced a $31.5 million Forward Purchase Agreement to acquire an under-construction industrial/logistics portfolio in Nashville, Tennessee, spanning 184,000 square feet. The acquisition aims to capitalize on Nashville's strong demographic growth and industrial property supply constraints. The deal is expected to close by the end of Q4 2021, contingent upon satisfactory due diligence. Currently, INDUS owns 43 buildings totaling approximately 5.3 million square feet across several states, enhancing its logistics footprint.
INDUS Realty Trust (NASDAQ: INDT) has secured a new revolving credit facility of up to $100 million, replacing its previous $50 million credit line set to expire in September 2021. This facility features a three-year term and an option for two one-year extensions. Borrowing costs are significantly reduced, with the initial interest rate now one-month LIBOR plus 1.20%, down from rates up to 2.75% previously. This move allows INDUS to enhance liquidity and support growth in its industrial/logistics portfolio.
FAQ
What is the market cap of INDT (INDT)?
What does Griffin Industrial Realty do?
Where are Griffin Industrial Realty's properties located?
What makes Griffin Industrial Realty's facilities stand out?
How does Griffin Industrial Realty support its tenants?
What industries does Griffin Industrial Realty cater to?
What are some recent achievements of Griffin Industrial Realty?
How is Griffin Industrial Realty performing financially?
What is the company's approach to property development?
Does Griffin Industrial Realty offer long-term leases?
How can I get more information about leasing a property?
