ILPT Real Estate

Industrial Logistics Properties Trust

$6.44-2.42%

Price as of close on Nov 3, 2026 · Financials updated Sep 30, 2026

Basics

Sector: Real Estate
Industry: REIT - Industrial
Country: United States
Market cap: 429.8M USD
Enterprise value: 4.5B USD

Overall health

Drawback: less profitable than most peersless profitable than peers
Drawback: higher risk than most peers: its share price swings more than most peers’ (beta 2.50 vs a peer median of 0.75) and more debt relative to equity (9.06× vs a peer median of 0.80×)higher risk: bigger price swings (beta 2.50 vs peers 0.75) and more debt vs equity (9.06× vs peers 0.80×)
About average: growth and valuation

Ranks #514 of 632 real estate companies (bottom 19%)

See how it ranks against its peers

Worth knowing

Much more borrowing than peers. Debt is 9.1× equity vs a peer median of 0.8×.Debt is 9.1× equity vs peers 0.8×.
Debt is 9.1× shareholders' equity, against a peer median of 0.8×, among the highest 10% of its peer group.Debt is 9.1× shareholders' equity, vs peers 0.8×, among the highest 10% of its peer group.
Valuation signals disagree. Cheaper than 76% of peers on free cash flow, but only 0% on earnings.
Relative to its free cash flow, Industrial Logistics Properties Trust looks cheaper than 76% of peers; relative to its earnings, cheaper than only 0%. The valuation score blends the two, so look at which measure fits this business best.
Not profitable yet. Reported a loss in the 12 months to June 2026.
Industrial Logistics Properties Trust reported a net loss over the last twelve months, so earnings-based measures can't show it as cheap.
More volatile share price. Beta 2.50: tends to move more than the market.
Industrial Logistics Properties Trust's shares have swung more with the market than most peers' (beta 2.50, above the market's 1.0).

StockQuotient Score

34/ 100

Oct 5 34 → Nov 4 34

Valuation

Is the price right?

54/100

Moderate▲ 3 since Oct 27 close

3/3 inputs reported · High confidence

Since last quarter: ▼ Weaker

Share count up 2.4% (existing holders diluted)

Valuation also moves with the share price every day.

Why it changed since the Oct 27, 2026 close: Score 51 → 54

Share price -12.7%+11
Company's reported figures updated-8

Each step re-scores the company against its peers as they were on Oct 28, 2026; the parts add up to the change. Price effects on EBITDA yield are approximate.

Why

Mixed versus peers:

▲ FCF yield
▲ EBITDA yield
▼ Earnings yield

Compare with peers

Behind the score

Sector-normalized EBITDA, earnings, and free cash flow yields.

Earnings yield-11.0%

SEC filings · 12 months to Jun 2026Negative (a loss or cash outflow), so it counts as zero whatever the share price30% base weight · Z-score -1.10Sector median: 0.0535 · MAD: 0.0484

EBITDA yield6.3%

Yahoo Finance fallback · SEC enterprise value unavailable (debt or EBITDA not reported in standard form) · trailing 12 monthsReported value50% base weight · Z-score 0.47Sector median: 0.0536 · MAD: 0.0204

Free cash flow yield12.7%

SEC filings · 12 months to Jun 2026 · operating cash flow − capital spendingReported value20% base weight · Z-score 1.39Sector median: 0.0650 · MAD: 0.0444

Other data (not scored)

Book yield107.4%

SEC filings · latest balance sheetReported valueInformational · 0% composite weightSector median: 1.1277 · MAD: 0.5490

Growth

Is it growing?

52/100

Moderate

3/3 inputs reported · High confidence

Since last quarter: No major change

Why

Close to the peer norm on every measure.

Compare with peers

Behind the score

Revenue and earnings-per-share growth over one year, and revenue growth over three years.

Earnings per share growthUnavailable

Still loss-making, but the loss per share narrowed33% base weight · Z-score 0.28Sector median: 0.1117 · MAD: 0.3101

3-year revenue growth5.0%

Yahoo Finance fallback · SEC figure unavailable or out of date · 3 fiscal years to Dec 2025Reported value33% base weight · Z-score 0.16Sector median: 0.0378 · MAD: 0.0744

Revenue growth1.5%

Yahoo Finance fallback · SEC figure unavailable or out of date · fiscal year to Dec 2025Reported value33% base weight · Z-score -0.16Sector median: 0.0297 · MAD: 0.0927

Profitability

Does it earn well?

26/100

Weak

3/3 inputs reported · High confidence

Since last quarter: ▼ Weaker

Turned to a loss over the last 12 months

Why

Weaker than most peers on:

▼ ROA
▼ ROIC

Compare with peers

Behind the score

Return on invested capital, operating margin, and return on assets.

Operating margin33.0%

Yahoo Finance fallback · SEC operating income not reported in standard form · fiscal year to Dec 2025Reported value33% base weight · Z-score 0.27Sector median: 0.2683 · MAD: 0.2257

Return on assets-0.9%

SEC filings · 12 months to Jun 2026Reported value33% base weight · Z-score -2.26Sector median: 0.0211 · MAD: 0.0134

Return on invested capital2.5%

Yahoo Finance fallback · SEC operating income or invested capital unavailable · trailing 12 monthsReported value33% base weight · Z-score -0.46Sector median: 0.0341 · MAD: 0.0197

Other data (not scored)

Gross margin85.8%

Yahoo Finance fallback · SEC figure unavailable or out of date · trailing 12 monthsReported valueInformational · 0% composite weightSector median: 0.5380 · MAD: 0.2259

Return on equity-10.2%

SEC filings · 12 months to Jun 2026Reported valueInformational · 0% composite weightSector median: 0.0521 · MAD: 0.0465

Risk

Debt, liquidity, price swings

Higher

Higher relative risk

3/3 inputs reported · High confidence

Since last quarter: No major change

Why

Weaker than most peers on:

▼ Beta
▼ Debt / equity

Compare with peers

Behind the score

Relative to sector peers: 0 = lower relative risk · 1 = moderate · 2 = higher. Based on leverage, beta and liquidity.

Beta2.50

Yahoo Finance · 5-year monthly beta vs the marketOutlier capped at sector 5th/95th percentile33% base weight · Z-score -2.65Sector median: 0.7490 · MAD: 0.3270

Current ratio4.31×

Yahoo Finance fallback · SEC figure unavailable or out of dateReported value33% base weight · Z-score 4.32Sector median: 1.1950 · MAD: 0.7210

Debt / equity9.06×

SEC filings · latest balance sheetOutlier capped at sector 5th/95th percentile33% base weight · Z-score -10.12Sector median: 0.8040 · MAD: 0.3893

Valuation, growth and profitability scores: higher is better. Risk: 0 is lower, 2 is higher. Risk is a relative proxy, not a bankruptcy probability. Scores depend on available sector peers.

Questions investors ask about Industrial Logistics Properties Trust

Is Industrial Logistics Properties Trust getting weaker?: Its latest SEC filing (Jul 29, 2026) got weaker in some ways: turned to a loss over the last 12 months; share count up 2.4%. Its overall score is unchanged at 34/100 since Oct 28, 2026.
How is Industrial Logistics Properties Trust valued vs its peers?: Priced about in line with its peers. Valuation scores 54/100 against 762 real estate peers. Free cash flow yield 12.7% vs a peer median of 6.5% (stronger than 76% of peers).Free cash flow yield 12.7% vs peers 6.5% (stronger than 76% of peers). Earnings yield -11.0% vs a peer median of 5.3% (weaker than 100% of peers).Earnings yield -11.0% vs peers 5.3% (weaker than 100% of peers).
Is Industrial Logistics Properties Trust growing?: At about the same pace as its peers. Growth scores 52/100 against 762 real estate peers.
How profitable is Industrial Logistics Properties Trust?: Less profitable than most of its peers. Profitability scores 26/100 against 762 real estate peers. Return on assets -0.9% vs a peer median of 2.1% (weaker than 88% of peers).Return on assets -0.9% vs peers 2.1% (weaker than 88% of peers).
How risky is Industrial Logistics Properties Trust?: Higher risk relative to 762 real estate peers, judged on debt, liquidity and share-price swings. Current ratio 4.31× vs a peer median of 1.20× (stronger than 92% of peers).Current ratio 4.31× vs peers 1.20× (stronger than 92% of peers). Beta 2.50 vs a peer median of 0.75 (weaker than 100% of peers).Beta 2.50 vs peers 0.75 (weaker than 100% of peers). A relative measure, not a bankruptcy probability.

Latest filing: what changed

Quarter ended Dec 31, 2019 · filed Jul 29, 2026 · compared with the quarter ended Sep 30, 2019

Got weaker

Turned to a loss over the last 12 months
Share count up 2.4% (existing holders diluted)

	Previous quarter	Latest quarter	Change
Net income (12 months)	59.1M USD	−47.2M USD	turned negative
Free cash flow (12 months)	105.0M USD	54.4M USD	−48.1%
Cash	23.3M USD	135.3M USD	+479.9%
Shares outstanding	65.2M	66.7M	+2.4%

From the company’s own SEC filings, as filed. Twelve-month figures roll forward one quarter at a time.

Industry valuation context

Sector: Real Estate · 124 companies

Valuations in Real Estate are within their usual range since 2016.

30% of months since 2016 were valued lower than now.
15% of companies are in the most expensive fifth of their own price-to-sales history.
Over 24 months, company values +4% and earnings +25% (medians): earnings grew faster than prices.
Median price-to-sales is +112% vs the whole market, against a usual +154%.

2016Shaded: most expensive fifth of its range2026

Shown for Real Estate: too few REIT - Industrial companies have a long enough history of their own.

Financials

Fiscal years from SEC annual filings · change vs the prior year

Key ratios	FY 2021	FY 2022	FY 2023	FY 2024	FY 2025	Change
Return on assets (ROA)	6.3%	-4.0%	-1.9%	-1.8%	-1.3%	▲ 0.5 pts
Return on equity (ROE)	11.5%	-28.7%	-16.1%	-17.0%	-13.5%	▲ 3.5 pts
Debt to equity	1.24×	5.37×	6.43×	7.65×	8.56×	▲ 12%

ILPT price history

Price history is added with the daily price update and will appear after the next one.

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Sector leaderboards

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Bringing the fundamentals into focus…

Overall health

Drawback: less profitable than most peersless profitable than peers

Drawback: higher risk than most peers: its share price swings more than most peers’ (beta 2.50 vs a peer median of 0.75) and more debt relative to equity (9.06× vs a peer median of 0.80×)higher risk: bigger price swings (beta 2.50 vs peers 0.75) and more debt vs equity (9.06× vs peers 0.80×)

About average: growth and valuation

Ranks #514 of 632 real estate companies (bottom 19%)

See how it ranks against its peers

Worth knowing

Much more borrowing than peers. Debt is 9.1× equity vs a peer median of 0.8×.Debt is 9.1× equity vs peers 0.8×.

Debt is 9.1× shareholders' equity, against a peer median of 0.8×, among the highest 10% of its peer group.Debt is 9.1× shareholders' equity, vs peers 0.8×, among the highest 10% of its peer group.

Valuation signals disagree. Cheaper than 76% of peers on free cash flow, but only 0% on earnings.

Relative to its free cash flow, Industrial Logistics Properties Trust looks cheaper than 76% of peers; relative to its earnings, cheaper than only 0%. The valuation score blends the two, so look at which measure fits this business best.

Not profitable yet. Reported a loss in the 12 months to June 2026.

Industrial Logistics Properties Trust reported a net loss over the last twelve months, so earnings-based measures can't show it as cheap.

More volatile share price. Beta 2.50: tends to move more than the market.

Industrial Logistics Properties Trust's shares have swung more with the market than most peers' (beta 2.50, above the market's 1.0).

Questions investors ask about Industrial Logistics Properties Trust

Is Industrial Logistics Properties Trust getting weaker?

Its latest SEC filing (Jul 29, 2026) got weaker in some ways: turned to a loss over the last 12 months; share count up 2.4%. Its overall score is unchanged at 34/100 since Oct 28, 2026.

How is Industrial Logistics Properties Trust valued vs its peers?

Priced about in line with its peers. Valuation scores 54/100 against 762 real estate peers. Free cash flow yield 12.7% vs a peer median of 6.5% (stronger than 76% of peers).Free cash flow yield 12.7% vs peers 6.5% (stronger than 76% of peers). Earnings yield -11.0% vs a peer median of 5.3% (weaker than 100% of peers).Earnings yield -11.0% vs peers 5.3% (weaker than 100% of peers).

Is Industrial Logistics Properties Trust growing?

At about the same pace as its peers. Growth scores 52/100 against 762 real estate peers.

How profitable is Industrial Logistics Properties Trust?

Less profitable than most of its peers. Profitability scores 26/100 against 762 real estate peers. Return on assets -0.9% vs a peer median of 2.1% (weaker than 88% of peers).Return on assets -0.9% vs peers 2.1% (weaker than 88% of peers).

How risky is Industrial Logistics Properties Trust?

Higher risk relative to 762 real estate peers, judged on debt, liquidity and share-price swings. Current ratio 4.31× vs a peer median of 1.20× (stronger than 92% of peers).Current ratio 4.31× vs peers 1.20× (stronger than 92% of peers). Beta 2.50 vs a peer median of 0.75 (weaker than 100% of peers).Beta 2.50 vs peers 0.75 (weaker than 100% of peers). A relative measure, not a bankruptcy probability.

Previous quarter

Latest quarter

Change

Net income (12 months)

59.1M USD

−47.2M USD

turned negative

Free cash flow (12 months)

105.0M USD

54.4M USD

−48.1%

Cash

23.3M USD

135.3M USD

+479.9%

Shares outstanding

65.2M

66.7M

+2.4%

Key ratios

FY 2021

FY 2022

FY 2023

FY 2024

FY 2025

Change

Return on assets (ROA)

6.3%

-4.0%

-1.9%

-1.8%

-1.3%

▲ 0.5 pts

Return on equity (ROE)

11.5%

-28.7%

-16.1%

-17.0%

-13.5%

▲ 3.5 pts

Debt to equity

1.24×

5.37×

6.43×

7.65×

8.56×

▲ 12%