- Industrial Logistics Properties Trust ( NASDAQ: ILPT ) shares are rising 3.4% in Tuesday afterhours trading following stronger than expected Q2 results , highlighted by record leasing activity and strong same property occupancy.
- Q2 adjusted FFO of $0.43 surpassed the average analyst estimate of $0.38, but decreased from $0.47 in the year-ago quarter.
- Revenue of $107.2M also beat the consensus of $93.1M and jumped from $54.2M in Q2 of last year.
- Expenses, though, totaled $173.5M at June 30 compared with $28.5M at June 30, 2021.
- Adjusted EBITDAre for Q2 came in at $80.8M vs. $40.9M in Q2 a year ago.
- Net operating income of $86.9M climbed from $42.4M in Q2 2021.
- Leasing activity for new and renewal leases and rent resets were 3.9M square feet.
- Same property occupancy for Q2 rose to 99.3% from 98.9% in Q2 2021.
- Conference call on July 27 at 10:00 a.m. ET.
- In mid-July, Industrial Logistics Properties slashes dividend by nearly 100% .
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Industrial Logistics Properties Q2 earnings beat reflects record leasing activity