Industrial Logistics Properties Trust
ILPT
Industrial Logistics Properties Trust AI Insights
Informational only. Not investment advice.Snapshot
- Debt-to-equity of 8.5x with interest expense (273M TTM) consuming 61% of revenue - net income negative at -88.5M despite 32% operating margin[Debt to Equity]
- Trading at 0.74x book value (494M equity) while P/S of 0.82x is 82% below industry median of 4.5x - distressed pricing[P/B Ratio]
- FCF of 39M TTM covers only 14% of 273M annual interest burden - refinancing risk is existential[Free Cash Flow]
Watch Triggers
- Interest Expense: Exceeds EBITDA (currently 89% of EBITDA) — Would signal inability to service debt from operations - bankruptcy trigger
- Debt to Equity: Rises above 10x or equity dilution announced — Equity raise at 0.74x book would be massively dilutive to existing holders
- Free Cash Flow: Falls below 30M or turns negative — Current 39M FCF barely covers 3.3M dividend - any decline forces cuts
Bull Case
Deep value at 0.74x book with 86% gross margin and 32% operating margin - if rates decline, equity could re-rate 2-3x from distressed levels
Industrial logistics assets (5.2B) in high-demand sector - strategic buyer or restructuring could unlock value above current 366M market cap
Bear Case
Capital structure is broken: 8.5x debt/equity with 273M interest vs 307M EBITDA leaves zero margin for error - dilution or default likely
Negative ROE (-16.4%), ROA (-1.7%), ROIC (-1.8%) TTM indicate value destruction - equity is melting ice cube without restructuring
Bull vs Bear Balance
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Forward Thesis
Interest expense trajectory determines survival - 273M annual burden vs 39M FCF is unsustainable
- 4.2B total debt at elevated rates
- EBITDA of 307M provides only 1.1x interest coverage
- Dividend already slashed to 0.08/share from historical levels
Public Strategies Rankings
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ILPT Fundamentals
| Metric | Value | YoY Growth | Industry Percentile |
|---|---|---|---|
$393.89M | — | ||
$4.52B | — | ||
0.00 | — | ||
$445.46M | +1.1% | — | |
$-1.36 | — | ||
32.4% | +1.3% | — | |
-19.9% | +3.5% | — | |
$39.03M | +425.9% | — | |
-0.16 | -0.6% | — | |
Beta 5Y (Monthly) | unknown | — |
ILPT Dividend History
2026
$0.05002025
$0.12002024
$0.04002023
$0.04002022
$0.68002021
$1.32002020
$1.32002019
$1.32002018
$0.9300ILPT Stock Splits
ILPT SEC Filings
| Filing Date | Report Date | Report Type | Filing Link |
|---|---|---|---|
10/28/25 | 09/30/25 | 10-Q | |
07/29/25 | 06/30/25 | 10-Q | |
04/29/25 | 03/31/25 | 10-Q | |
02/19/25 | 12/31/24 | 10-K | |
10/29/24 | 09/30/24 | 10-Q | |
07/30/24 | 06/30/24 | 10-Q | |
04/30/24 | 03/31/24 | 10-Q | |
02/20/24 | 12/31/23 | 10-K | |
10/25/23 | 09/30/23 | 10-Q | |
07/25/23 | 06/30/23 | 10-Q | |
04/25/23 | 03/31/23 | 10-Q | |
02/14/23 | 12/31/22 | 10-K | |
10/25/22 | 09/30/22 | 10-Q | |
07/26/22 | 06/30/22 | 10-Q | |
04/27/22 | 03/31/22 | 10-Q | |
02/15/22 | 12/31/21 | 10-K | |
10/27/21 | 09/30/21 | 10-Q | |
07/28/21 | 06/30/21 | 10-Q | |
04/26/21 | 03/31/21 | 10-Q | |
02/18/21 | 12/31/20 | 10-K | |
10/28/20 | 09/30/20 | 10-Q | |
07/29/20 | 06/30/20 | 10-Q | |
04/30/20 | 03/31/20 | 10-Q | |
02/24/20 | 12/31/19 | 10-K | |
10/30/19 | 09/30/19 | 10-Q | |
07/30/19 | 06/30/19 | 10-Q | |
04/29/19 | 03/31/19 | 10-Q | |
02/21/19 | 12/31/18 | 10-K | |
10/26/18 | 09/30/18 | 10-Q | |
07/27/18 | 06/30/18 | 10-Q | |
04/27/18 | 03/31/18 | 10-Q | |
03/28/18 | 12/31/17 | 10-K | |
01/16/18 | 09/30/17 | 424B4 | |
07/27/18 | 06/30/17 | 10-Q | |
04/27/18 | 03/31/17 | 10-Q | |
01/16/18 | 12/31/16 | 424B4 |