NASDAQ$ILPT
Industrial Logistics Properties Trust · Q4 2025 earnings
Q4 2025 earnings · · After market close · Investor relations
Briefing
ILPT reported improved Normalized FFO and higher same property NOI in the fourth quarter of 2025 despite a net loss attributable to common shareholders.
For Q4 2025, ILPT reported rental income of 113910000 and a net loss attributable to common shareholders of 1780000, or -0.03 per share. Normalized FFO attributable to common shareholders was 18878000, or 0.29 per share. Same property NOI increased 4.9% year over year to 88189000, with consolidated occupancy at 94.5%.
- Rental income totaled 113910000 for the quarter.
- Net loss attributable to common shareholders was 1780000, or -0.03 per share.
- Normalized FFO attributable to common shareholders was 18878000, or 0.29 per share.
- Portfolio was 94.5% leased with 409 properties totaling 59604000 rentable square feet.
Headline financials
Revenue & EPS history
ILPT · Revenue · Quarterly
$114M
Forward guidance
Management highlighted strong leasing momentum entering 2026, a robust leasing pipeline and opportunities to further strengthen the balance sheet.
Tailwinds
- Record quarterly leasing volume of approximately 3989000 square feet.
- Weighted average GAAP rent increase of 25.7% on leasing activity.
- Same property Cash Basis NOI increased 5.2% year over year.
- Improved interest expense due to lower outstanding debt and rates.
- Strong tenant credit profile with 76% of annualized rental revenues from investment grade tenants or Hawaii land leases.
Headwinds
- Net loss attributable to common shareholders for the quarter.
- High leverage with net debt to annualized Adjusted EBITDAre of 11.8x.
- Significant secured debt of 4214036000 outstanding.
- Exposure to variable rate debt representing 34.7% of net debt.
- Ongoing refinancing risk with near-term debt maturities in 2026.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 19 quarterly earnings reports · overlaid with Q4 2025
-0.4%
Avg return
Earnings day
-0.4%
Avg return
5 days after
-2.7%
Avg return
30 days after
45%
15 / 33 earnings
Positive
+10.7%
Q1 2024
Best reaction
-9.3%
Q3 2025
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | -1.1% | -0.8% | — | |
| Q4 2025 | +4.0% | +4.7% | +4.0% | |
| Q3 2025 | -9.3% | -7.6% | -4.5% | |
| Q1 2025 | +0.0% | +9.5% | +25.6% | |
| Q4 2024 | -2.5% | -2.5% | -13.4% | |
| Q3 2024 | -7.6% | -13.2% | -2.3% | |
| Q2 2024 | +2.4% | -1.4% | -2.0% | |
| Q1 2024 | +10.7% | +19.4% | +5.5% | |
| Q4 2023 | +0.0% | -2.0% | +2.0% | |
| Q3 2023 | +5.5% | +3.8% | +28.0% | |
| Q2 2023 | -7.1% | -4.4% | +1.5% | |
| Q1 2023 | +5.0% | +3.0% | -11.0% | |
| Q4 2022 | +9.7% | +13.1% | -26.0% | |
| Q3 2022 | -5.5% | -5.1% | -21.6% | |
| Q2 2022 | -0.5% | +3.7% | -14.3% | |
| Q1 2022 | -9.1% | -17.4% | -23.6% | |
| Q4 2021 | +3.8% | +3.5% | +2.2% | |
| Q3 2021 | +1.1% | +0.5% | -22.1% | |
| Q2 2021 | +0.7% | -0.1% | +1.6% | |
| Q1 2021 | -1.1% | +1.3% | +2.6% | |
| Q4 2020 | -3.7% | -4.4% | +2.9% | |
| Q3 2020 | -3.2% | -2.7% | +9.3% | |
| Q2 2020 | +1.8% | +2.4% | +4.3% | |
| Q1 2020 | -3.1% | -4.6% | +3.6% | |
| Q4 2019 | -3.0% | -12.2% | -32.8% | |
| Q3 2019 | -3.5% | -1.8% | -1.3% | |
| Q2 2019 | +2.9% | +3.5% | +2.6% | |
| Q1 2019 | +1.2% | +4.1% | -3.3% | |
| Q4 2018 | +2.5% | +1.1% | -5.7% | |
| Q3 2018 | +0.5% | -2.7% | -1.6% | |
| Q2 2018 | -2.1% | -1.2% | +2.5% | |
| Q1 2018 | +0.4% | +0.0% | +4.0% | |
| Q4 2017 | -2.5% | -3.9% | -1.6% | |
| Q3 2017 | — | — | — | |
| Q2 2017 | — | — | — | |
| Q1 2017 | — | — | — | |
| Q4 2016 | — | — | — |
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