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Hot Stocks
Industrial Logistics Properties maintains quarterly dividend, provides update » 08:10
04/06/20
04/06
08:10
04/06/20
08:10
ILPT

Industrial Logistics Property Trust

$14.99 /

-1.2 (-7.41%)

Industrial Logistics…

Industrial Logistics Properties Trust announced a regular quarterly cash dividend on its common shares of 33c per share, unchanged from its previous dividend level. This dividend will be paid to ILPT's common shareholders of record as of the close of business on April 16, and distributed on or about May 21. John Murray, President and CEO provided the following business update: "ILPT is actively monitoring the developments of the COVID-19 pandemic. The welfare of employees as well as tenants and their businesses is of utmost importance in these challenging times. We believe the industrial logistics sector may be well-positioned to weather the disruptions related to the COVID-19 pandemic, due to a potential for increased reliance on e-commerce and logistics to support retailers and communities with essential services throughout the U.S. Many of our tenants are critical to the supply chain and responsible for a quick and reliable delivery of goods, which we believe will continue to support demand for industrial and logistics real estate like ours. Today's dividend declaration underscores our Board of Trustee's continued confidence in our capital position and ability to operate our business effectively through the current challenging market environment. As of December 31, 2019, we had $28.4 million in cash and approximately $440 million of availability under our $750 million revolving credit facility. In addition, we believe that our portfolio possesses a number of defensive qualities that may help mitigate the current disruptions facing the U.S. economy. For instance, more than 73% of our revenue comes from investment grade rated tenants, subsidiaries of investment grade rated parent entities or Hawaii land leases. Moreover, our portfolio is 99.3% occupied with a long average remaining lease term of 9.6 years and well-laddered lease maturities including 93.3% of annualized rent expiring after 2021."

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Over a month ago
Hot Stocks
Industrial Logistics Property Trust enters $680M JV with Asian investor » 16:23
02/21/20
02/21
16:23
02/21/20
16:23
ILPT

Industrial Logistics Property Trust

$23.54 /

-0.31 (-1.30%)

Industrial Logistics…

Industrial Logistics Properties Trust announced that it has entered into agreements related to a $680M joint venture with an Asian institutional investor for a select portfolio of 12 of ILPT's mainland properties. The investor will contribute approximately $108M for a 39% equity interest in the joint venture and ILPT will own the remaining 61% equity interest in the joint venture. ILPT closed the joint venture with 11 properties and the investor will initially contribute approximately $82M. The joint venture also assumed $350M of existing secured debt on the portfolio. A twelfth property and $57M of additional associated debt is expected to be contributed later, subject to certain conditions. ILPT expects to use the proceeds from this transaction to reduce outstanding borrowings under its $750M unsecured revolving credit facility. The 12 industrial properties contain an aggregate 9.2M square feet and are located in nine states. As of September 30, 2019, these properties were 100% leased for a weighted average remaining lease term of 7.6 years

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Over a quarter ago
Hot Stocks
Industrial Logistics Property to replace Cambrex in S&P 600 at open on 12/6 » 04:55
12/06/19
12/06
04:55
12/06/19
04:55
ILPT

Industrial Logistics Property Trust

$21.98 /

-0.515 (-2.29%)

, CBM

Cambrex

$59.99 /

+ (+0.00%)

Permira Advisors is…

Permira Advisors is acquiring Cambrex in a deal expected to be completed soon pending final conditions.

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Hot Stocks
S&P announces changes to S&P 400, 500, 600 indices » 18:09
12/02/19
12/02
18:09
12/02/19
18:09
ODFL

Old Dominion

$186.28 /

-5.4 (-2.82%)

, STI

Merged to become TFC

$70.36 /

-0.49 (-0.69%)

, CCMP

Cabot Microelectronics

$132.08 /

-1.36 (-1.02%)

, RC

Ready Capital

$15.73 /

-0.01 (-0.06%)

, BBT

Merged to become TFC

$54.42 /

-0.31 (-0.57%)

, ILPT

Industrial Logistics Property Trust

$21.47 /

-0.15 (-0.69%)

, CBM

Cambrex

$59.99 /

+0.01 (+0.02%)

S&P Dow Jones Indices…

S&P Dow Jones Indices will make the following changes to the S&P 500, S&P MidCap 400 and S&P SmallCap 600: Old Dominion Freight Line (ODFL) will replace SunTrust Banks (STI) in the S&P 500, Cabot Microelectronics (CCMP) will replace Old Dominion Freight Line in the S&P MidCap 400, and Ready Capital (RC) will replace Cabot Microelectronics in the S&P SmallCap 600 prior to the open of trading on Monday, December 9. BB&T (BBT) is acquiring SunTrust Banks in a deal expected to be completed soon pending final conditions. Post acquisition, BB&T will change its name to Truist Financial Corp. and will trade under the ticker "TFC." Industrial Logistics Properties Trust (ILPT) will replace Cambrex (CBM) in the S&P SmallCap 600 prior to the open of trading on Friday, December 6. Permira Advisors is acquiring Cambrex in a deal expected to be completed soon pending final conditions.

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Hot Stocks
Industrial Logistics Property to replace Cambrex in S&P 600 at open on 12/6 » 17:20
12/02/19
12/02
17:20
12/02/19
17:20
ILPT

Industrial Logistics Property Trust

$21.47 /

-0.15 (-0.69%)

, CBM

Cambrex

$59.99 /

+0.01 (+0.02%)

Permira Advisors is…

Permira Advisors is acquiring Cambrex in a deal expected to be completed soon pending final conditions.

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Downgrade
Industrial Logistics Property cut to Sector Perform at RBC on unchanged dividend » 08:55
08/07/19
08/07
08:55
08/07/19
08:55
ILPT

Industrial Logistics Property Trust

$21.38 /

+0.14 (+0.66%)

As previously reported,…

As previously reported, RBC Capital analyst Michael Carroll downgraded Industrial Logistics Property Trust to Sector Perform and lowered his price target to $22 from $23. The analyst says the company offers "limited near term catalysts" and was disappointed by its unchanged dividend announcement with no payout increases coming since its January 2018 IPO. Carroll adds that a joint-venture transaction reducing leverage by Industrial Logistics Property Trust would be a positive but unlikely before mid-2020.

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Downgrade
Industrial Logistics downgraded to Sector Perform from Outperform at RBC Capital » 06:14
08/07/19
08/07
06:14
08/07/19
06:14
ILPT

Industrial Logistics Property Trust

$21.38 /

+0.14 (+0.66%)

RBC Capital analyst…

RBC Capital analyst Michael Carroll downgraded Industrial Logistics Property Trust to Sector Perform from Outperform and lowered his price target for the shares to $22 from $23.

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Syndicate
Industrial Logistics Property Trust files automatic mixed securities shelf  16:20
04/23/19
04/23
16:20
04/23/19
16:20
ILPT

Industrial Logistics Property Trust

$20.02 /

+0.46 (+2.35%)

 
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