Industrial Logistics Properties Trust (ILPT) announced its financial results for the third quarter ended September 30, 2024. The company reported Normalized Funds From Operations (FFO) of $0.12 per share, which was in line with analyst estimates. This indicates a stable operational performance for the quarter.
Total revenue for the third quarter reached $108.95 million. This figure missed analyst estimates by $1.35 million, reflecting a slight shortfall in top-line performance. The company's portfolio as of September 30, 2024, consisted of 411 properties, encompassing approximately 59.9 million rentable square feet across 39 states.
Approximately 77% of ILPT’s annualized rental revenues as of September 30, 2024, were derived from investment-grade tenants, their subsidiaries, or secure Hawaii land leases. This high percentage of stable revenue sources underpins the company's financial foundation. The detailed results were made available on ILPT’s investor relations website.
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