Industrial Logistics Properties TrustILPT
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Impact on stocks 1
Real Estate
Industrial Logistics Properties TrustIndustrial Logistics Properties TrustIndustrial Logistics Properties Trust raised its full-year 2026 guidance after reporting record leasing volume and a refinancing that eliminated floating-rate debt. The company leased 5.4 million square feet in the second quarter at a 35% GAAP rent spread and a 14% cash spread, adding $8.2 million in annualized rental revenue and lifting portfolio occupancy to 99%. A joint venture closed a $1.62 billion, five-year fixed-rate mortgage at 5.71%, making all consolidated debt fixed-rate with no maturities until 2029, though leverage remains elevated at 11.5 times net debt leverage and 69.2% net debt to total assets. ILPT raised its full-year adjusted EBITDAre guidance to $348 million to $353 million and normalized FFO guidance to $1.31 to $1.39 per share, while second-quarter normalized FFO reached $0.31 per share, up 51% year over year, and the company doubled its quarterly dividend to $0.10 per share.