Cash Basis NOI
Grew by 2.1% compared to the same period last year. The increase is attributed to strong leasing activity and higher rental rates.
Normalized FFO
Increased 54% year-over-year to $13.8 million or $0.21 per share. The growth is due to improved leasing performance and refinancing savings.
Leasing Activity
Second quarter activity totaled 171,000 square feet at a weighted average rental rate 21.1% higher than prior rates for the same space. This contributed to an expected annualized rental revenue increase of $3.2 million.
Occupancy Rate
Ended the quarter at 94.3%, exceeding the national industrial average by 170 basis points. This reflects strong tenant retention and proactive lease renewal strategies.
Interest Expense
Decreased by $1.9 million compared to the first quarter of 2025, reflecting the impact of a lower-cost interest rate cap.
Net Debt to Total Assets Ratio
Increased slightly to 69.9%, while the variable debt to net debt ratio declined from 64.8% to 34.4% due to refinancing efforts.
Dividend
Increased from $0.01 per share to $0.05 per share, reflecting improved financial performance and cash flow savings from refinancing.
Wall Street analysts forecast ILPT stock price to fall over the next 12 months. According to Wall Street analysts, the average 1-year price target for ILPT is 5.00 USD with a low forecast of 5.00 USD and a high forecast of 5.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
1 Analyst Rating
Wall Street analysts forecast ILPT stock price to fall over the next 12 months. According to Wall Street analysts, the average 1-year price target for ILPT is 5.00 USD with a low forecast of 5.00 USD and a high forecast of 5.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
1 Buy
0 Hold
0 Sell
Moderate Buy
Current: 6.030
Low
5.00
Averages
5.00
High
5.00
Current: 6.030
Low
5.00
Averages
5.00
High
5.00
B. Riley
Buy
maintain
$5
Al Analysis
2025-05-09
Reason
B. Riley
Price Target
$5
Al Analysis
2025-05-09
maintain
Buy
Reason
B. Riley kept a Buy rating on Industrial Logistics Property Trust with a $5 price target following a transfer in coverage. The Buy rating reflects the strength of the real estate investment trust's portfolio, which is 100% composed of industrial assets, largely warehouse and distribution properties, and features "several infill assets in highly desirable locations, including a significant number of properties in Hawaii," the analyst tells investors in a research note.
About ILPT
Industrial Logistics Properties Trust is a real estate investment trust. The Company owns and leases industrial and logistics properties throughout the United States. Its portfolio consisted of 411 properties containing approximately 59.9 million rentable square feet located in 39 states, including 226 buildings, leasable land parcels and easements containing over 16,729,000 rentable square feet that were primarily industrial lands located on the island of Oahu, Hawaii and 185 properties containing approximately 43,161,000 rentable square feet that were industrial, and logistics properties located in 38 other states in the mainland United States, which included 94 properties in 27 states totaling approximately 20,978,000 rentable square feet. It operates through the ownership and leasing of properties that include industrial and logistics buildings and leased industrial lands segment. It is managed by The RMR Group, which is a United States alternative asset management company.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
