Industrial Logistics Properties Trust (ILPT) announced its financial results for the fourth quarter ended December 31, 2024. The company reported a 12.1% increase in normalized Funds From Operations (FFO) compared to the prior year. This growth in FFO highlights an improvement in the company's operational profitability.
The company also reported robust leasing growth during the quarter. This leasing activity contributes to the overall strength of its portfolio and future revenue potential. As of December 31, 2024, ILPT's portfolio comprised 411 properties, totaling approximately 59.9 million rentable square feet located in 39 states.
Approximately 77% of ILPT’s annualized rental revenues as of December 31, 2024, were generated from investment-grade rated tenants, their subsidiaries, or Hawaii land leases. This stable tenant base provides a reliable income stream. The detailed financial results were published on the company's investor relations website.
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