INDT - INDT STOCK NEWS

INDUS Realty Trust, Inc. (Nasdaq: INDT) reported significant leasing updates, achieving a 99.4% occupancy in its industrial/logistics portfolio. Highlights include a 15-year lease with Amazon for a 141,000 sq. ft. facility and the development of a 234,000 sq. ft. building in Hartford, CT, which is 67% pre-leased. The Company announced an impending acquisition of a 127,500 sq. ft. property for $11.7 million and closed on another 14-acre land parcel for $5.25 million. Rent collections remained strong, with a 99.9% collection rate since December 2020.

INDUS Realty Trust, Inc. (Nasdaq: INDT) has appointed Thomas M. Daniells as Senior Vice President, General Counsel, and Corporate Secretary. Daniells, a former Partner at Murtha Cullina LLP since 1998, brings extensive experience as outside counsel to INDUS since its public offering in 1997. President and CEO Michael Gamzon expressed confidence in Daniells' ability to add value to the leadership team, citing his deep knowledge of the company. INDUS focuses on industrial/logistics real estate, owning 41 buildings totaling 4.6 million square feet across several states.

INDUS Realty Trust, Inc. (Nasdaq: INDT) announced a significant increase in its Revolving Line of Credit from $19.5 million to $35.0 million through a fourth amendment with Webster Bank. The amendment also adds two industrial properties in Charlotte, NC, totaling 283,000 square feet, to the collateral. This brings the total borrowing capacity with Webster Bank to $50.0 million. INDUS continues to focus on developing, acquiring, and managing industrial/logistics properties, owning 41 buildings across several states, including over 3,400 acres of undeveloped land.

INDUS Realty Trust, Inc. (Nasdaq: INDT) announced the pricing of a public offering of 1,750,000 shares at $60.00 per share, with a 30-day option for underwriters to purchase an additional 262,500 shares. The offering is set to close on March 5, 2021, and trading will commence on March 3, 2021. The net proceeds will fund INDUS's development pipeline and acquisitions. Morgan Stanley and Citigroup are leading the offering, which is made under an effective shelf registration statement.

INDUS Realty Trust, Inc. (NASDAQ: INDT) has announced an offering of 1,750,000 shares of common stock, with a provision for underwriters to purchase an additional 262,500 shares. The proceeds are intended for financing development projects and acquisitions, as well as other corporate needs. The offering is being led by Morgan Stanley and Citigroup, under an existing shelf registration with the SEC. The company warns that completion of the offering and its intended use are subject to various conditions beyond its control.

INDUS Realty Trust (Nasdaq: INDT) reported significant financial results for Q4 and fiscal 2020. The Company experienced a net loss of $11.1 million for Q4 and $12.7 million for the fiscal year, marking a 328% increase from Q4 2019. Despite the losses, net operating income (NOI) increased by 12.6% in Q4 to $7.1 million and by 11.1% for the fiscal year to $26.9 million. The industrial portfolio was 94.3% leased, and the Company is transitioning to operate as a REIT starting January 1, 2021. Post fiscal year-end, INDUS began selling approximately 91 acres of land for $5.25 million.

INDUS Realty Trust (Nasdaq: INDT) will hold a pre-recorded webcast on February 19, 2021, at 8:00 A.M. Eastern Time to discuss its financial results for the fourth quarter and fiscal year ended November 30, 2020. The company plans to release these results after market close on February 18, 2021. Interested investors can access the webcast via INDUS's website along with supplemental financial information. INDUS owns 41 buildings across several states, totaling approximately 4.6 million square feet.

INDUS Realty Trust (Nasdaq: INDT) announced a special dividend of $1.99 per share, amounting to $11,250,000, payable to stockholders of record as of January 22, 2021. The distribution will be a combination of cash and common stock, with $3,397,824 allocated for cash payments, equating to $0.60 per share. The dividend will be paid on March 8, 2021. INDUS plans to initiate regular quarterly dividends starting with the quarter ending June 30, 2021, signaling ongoing commitment to shareholder returns.

INDUS Realty Trust, Inc. (formerly Griffin Industrial Realty, Inc.) announced its reincorporation in Maryland, official name change, and trading symbol update to INDT effective January 4, 2021. The company has transitioned to operate as a real estate investment trust (REIT), beginning January 1, 2021, which allows it to avoid U.S. federal income taxes if it distributes its taxable income. INDUS owns 41 buildings totaling approximately 4.6 million square feet and intends to declare a dividend soon to distribute accumulated earnings.