Industrial Logistics Properties Trust (NASDAQ: ILPT) reported Q4 EPS of $0.62, $0.39 better than the analyst estimate of $0.23.

• Fourth Quarter Net Income Attributable to Common Shareholders of $0.62 Per Share
• Fourth Quarter Normalized FFO Attributable to Common Shareholders of $0.46 Per Share
• Added Second Joint Venture Investor, Raising Equity Capital at Net Asset Value to Reduce Debt

"We reported a strong finish to the year, with steady progress on our key priorities to reduce leverage, expand the portfolio, and create value for tenants and investors in today's competitive operating environment. ILPT entered into new and renewal leases for approximately 253,000 square feet, resulting in weighted average rental rates that were 14.1% higher than prior rental rates with a weighted average lease term of 13 years. Our portfolio occupancy also remained stable at 98.5%, which demonstrates the strong demand for ILPT's high quality industrial and logistics properties. We added a second third party investor to our existing 12-property joint venture, which resulted in substantially reducing our leverage, and we ended the year with more than $550 million of total liquidity. Finally, in December 2020, we completed the acquisition of a 645,000 square foot Class A industrial facility in the Kansas City area, which expands ILPT\'s geographic diversification into another top 20 U.S. industrial market. Looking ahead to 2021, we anticipate industrial real estate fundamentals will continue to remain strong with ILPT well positioned to pursue opportunities that will complement our existing industrial assets, drive growth across the portfolio, and create sustainable long-term shareholder value.”

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