NEWTON, Mass.–(BUSINESS WIRE)–Industrial Logistics Properties Trust (Nasdaq: ILPT) today announced a regular quarterly cash distribution on its common shares of $0.01 per share ($0.04 per share per year). This distribution will be paid to ILPT’s common shareholders of record as of the close of business on October 24, 2022 and distributed on or about November 17, 2022.
About Industrial Logistics Properties Trust
Industrial Logistics Properties Trust (Nasdaq: ILPT) is a REIT focused on owning and leasing high quality distribution and logistics properties that serve the growing needs of e-commerce. As of June 30, 2022, ILPT’s portfolio consisted of 412 properties containing approximately 59.7 million rentable square feet located in 39 states. Approximately 77% of ILPT’s annual rental revenues are derived from investment grade tenants, tenants that are subsidiaries of investment grade rated entities or Hawaii land leases. ILPT is managed by The RMR Group (Nasdaq: RMR), a leading U.S. alternative asset management company with more than $37 billion in assets under management as of June 30, 2022 and more than 35 years of institutional experience in buying, selling, financing and operating commercial real estate. ILPT is headquartered in Newton, MA. For more information, visit www.ilptreit.com.
WARNING CONCERNING FORWARD-LOOKING STATEMENTS
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and other securities laws. These forward-looking statements are based upon ILPT’s present beliefs and expectations, but these statements and the implications of these statements are not guaranteed to occur and may not occur for various reasons, some of which are beyond ILPT’s control. For example, this press release states that ILPT’s dividend rate will be $0.01 per common share ($0.04 per share per year). A possible implication of this statement is that ILPT will continuously pay quarterly dividends of $0.01 per common share ($0.04 per share per year) in the future. ILPT’s dividend rates are set and reset from time to time by ILPT’s Board of Trustees. The ILPT Board considers many factors when setting dividend rates including ILPT’s historical and projected income, normalized funds from operations, cash available for distribution, the then current and expected needs and availability of cash to pay ILPT’s obligations and fund ILPT’s investments, ILPT’s distribution rate as a percentage of the trading price of its common shares, or dividend yield, and the dividend yield of other industrial REITs, distributions which may be required to be paid by ILPT to qualify for taxation as a real estate investment trust and other factors deemed relevant by ILPT’s Board of Trustees in its discretion. Accordingly, future dividend rates may be increased or decreased and there is no assurance as to the rate at which future dividends will be paid.
The information contained in ILPT’s filings with the Securities and Exchange Commission, or SEC, including under the caption “Risk Factors” in ILPT’s periodic reports or incorporated therein, identifies important factors that could cause ILPT’s actual results to differ materially from those stated or implied by ILPT’s forward-looking statements. ILPT’s filings with the SEC are available at the SEC’s website at www.sec.gov.
You should not place undue reliance upon forward-looking statements.
Except as required by law, ILPT does not intend to update or change any forward-looking statements as a result of new information, future events or otherwise.
A Maryland Real Estate Investment Trust with transferable shares of beneficial interest listed on the Nasdaq.
No shareholder, Trustee or officer is personally liable for any act or obligation of the Trust.
Kevin Barry, Director, Investor Relations