Industrial Logistics Properties Trust Announces Quarterly Dividend on Common Shares
July 13 2023 - 8:00AM
Business Wire
Industrial Logistics Properties Trust (Nasdaq: ILPT) today
announced a regular quarterly cash distribution on its common
shares of $0.01 per common 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 July 24, 2023 and distributed on or
about August 17, 2023.
About Industrial Logistics Properties Trust
Industrial Logistics Properties Trust (Nasdaq: ILPT) is a real
estate investment trust, or REIT, focused on owning and leasing
high quality distribution and logistics properties that serve the
growing needs of e-commerce. As of March 31, 2023, ILPT’s portfolio
consisted of 413 properties containing approximately 60.0 million
rentable square feet located in 39 states. Approximately 78% of
ILPT’s annualized rental revenues as of March 31, 2023 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 over $37 billion in assets under
management as of March 31, 2023 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 intent, 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 regular
quarterly cash distribution rate is $0.01/ share per quarter or
$0.04/share per year. A possible implication of this statement is
that ILPT will continue to pay quarterly distributions of
$0.01/share per quarter or $0.04/share per year in the future.
ILPT’s distribution rate may be set and reset from time to time by
ILPT’s Board of Trustees. ILPT’s Board of Trustees considers many
factors when setting or resetting ILPT’s distribution rate,
including ILPT’s funds from operations attributable to common
shareholders, normalized funds from operations attributable to
common shareholders, requirements to maintain ILPT’s qualification
for taxation as a REIT, limitations in ILPT’s debt agreements, the
availability to ILPT of debt and equity capital, ILPT’s dividend
yield and its dividend yield compared to the dividend yields of
other industrial REITs, ILPT’s expectation of its future capital
requirements and operating performance, ILPT’s expected needs for
and availability of cash to pay its obligations and other factors
deemed relevant by ILPT’s Board of Trustees in its discretion.
Accordingly, future distributions to ILPT’s shareholders may be
increased or decreased and ILPT cannot be sure as to the rate at
which future distributions will be paid.
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.
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version on businesswire.com: https://www.businesswire.com/news/home/20230712258057/en/
Stephen Colbert, Director, Investor Relations (617) 219-1489
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