<p>工业物流物业信托（ILPT）最近召开了财报电话会议，尽管面临一些挑战，但整体情绪仍然积极。公司展示了强劲的财务表现，运营资金和入住率显著增长，同时成功的租赁活动和近期债务再融资带来了好处。尽管存在减值费用和某些地区租赁利差低等障碍，但由于租赁和财务指标的战略进展，整体前景依然乐观。</p>
<h2>强劲的财务表现</h2>
<p>ILPT 报告称，正常化运营资金（FFO）同比增长 116%，达到 1740 万美元，或每股 0.26 美元。此外，同物业现金基础净运营收入（NOI）较去年增长 3%。这些数据突显了公司的强大财务健康状况及其为股东创造可观回报的能力。</p>
<h2>高入住率</h2>
<p>公司的合并入住率达到了令人印象深刻的 94.1%，超出美国工业平均水平 150 个基点。这一高入住水平反映了 ILPT 有效的物业管理和对其工业空间的强劲需求。</p>
<h2>成功的租赁活动</h2>
<p>ILPT 完成了覆盖 836,000 平方英尺的租赁活动，租金水平平均比之前高出 22%，平均租期为 8 年。这一租赁成功展示了公司确保长期、盈利协议的能力，从而增强其收入来源。</p>
<h2>债务再融资带来的好处</h2>
<p>在 6 月份完成了 16.16 亿美元的固定利率债务再融资后，ILPT 的利息支出减少了 440 万美元。这一战略举措通过降低债务成本，增强了公司的财务状况。</p>
<h2>强大的租户基础</h2>
<p>ILPT 超过 76% 的年化收入来自投资级评级的租户或安全的夏威夷土地租赁。这一强大的租户基础提供了稳定可靠的收入来源，有助于公司的财务稳定。</p>
<h2>减值费用</h2>
<p>ILPT 在其待售物业上确认了 610 万美元的减值费用。虽然这代表了财务上的挫折，但公司正在积极管理其投资组合以减轻此类影响。</p>
<h2>大陆资产的低 GAAP 租赁利差</h2>
<p>公司报告称，其大陆全资资产的 GAAP 租金 modestly 增加了 1.8%，主要是由于与美国邮政服务的特定交易。这突显了在某些市场实现更高租赁利差的挑战。</p>
<h2>空置资产挑战</h2>
<p>ILPT 继续面临一些空置物业的挑战，特别是在印第安纳波利斯和夏威夷等地。公司专注于租赁这些资产，以改善入住率和收入。</p>
<h2>前瞻性指导</h2>
<p>展望未来，ILPT 预计 2025 年第四季度每股正常化 FFO 将在 0.27 美元至 0.29 美元之间，不包括激励费用。公司还预计调整后的 EBITDAre 将在 8400 万美元至 8500 万美元之间。此外，ILPT 计划出售三处总面积为 867,000 平方英尺的物业，预计售价约为 5500 万美元，部分收益将用于偿还 7 亿美元的贷款。这些战略举措预计将进一步增强公司的财务状况。</p>
<p>总之，工业物流物业信托的财报电话会议传达了积极的情绪，得益于强劲的财务表现、高入住率和成功的租赁活动。尽管面临一些挑战，但公司的战略举措和前瞻性指导表明未来前景乐观。</p>

ILPT

<p>工业物流物业信托（ILPT）报告了强劲的收益，正常化运营资金（FFO）同比增长 116%，达到 1740 万美元。入住率达到 94.1%，租赁活动覆盖了 836,000 平方英尺，租金水平比之前高出 22%。ILPT 因债务再融资受益于 440 万美元的利息支出减少。尽管面临 610 万美元的减值费用和空置物业的挑战，前景依然乐观，预计 2025 年第四季度每股 FFO 将在 0.27 美元至 0.29 美元之间</p>

<p>Industrial Logistics Properties Trust (ILPT) recently held its earnings call, revealing a generally positive sentiment despite some challenges. The company showcased strong financial performance, marked by significant increases in funds from operations and occupancy rates, alongside successful leasing activities and benefits from recent debt refinancing. Although there were hurdles, such as impairment charges and low leasing spreads in certain areas, the overall outlook remains optimistic due to strategic advancements in leasing and financial metrics.</p>
<div class="lb-trans"><p>工业物流物业信托（ILPT）最近召开了财报电话会议，尽管面临一些挑战，但整体情绪仍然积极。公司展示了强劲的财务表现，运营资金和入住率显著增长，同时成功的租赁活动和近期债务再融资带来了好处。尽管存在减值费用和某些地区租赁利差低等障碍，但由于租赁和财务指标的战略进展，整体前景依然乐观。</p>
</div><h2>Strong Financial Performance</h2>
<div class="lb-trans"><h2>强劲的财务表现</h2>
</div><p>ILPT reported a remarkable 116% year-over-year increase in normalized funds from operations (FFO), reaching $17.4 million or $0.26 per share. Additionally, the same-property cash basis net operating income (NOI) grew by 3% compared to the previous year. These figures underscore the company’s robust financial health and its ability to generate substantial returns for shareholders.</p>
<div class="lb-trans"><p>ILPT 报告称，正常化运营资金（FFO）同比增长 116%，达到 1740 万美元，或每股 0.26 美元。此外，同物业现金基础净运营收入（NOI）较去年增长 3%。这些数据突显了公司的强大财务健康状况及其为股东创造可观回报的能力。</p>
</div><h2>High Occupancy Rates</h2>
<div class="lb-trans"><h2>高入住率</h2>
</div><p>The company’s consolidated occupancy rate reached an impressive 94.1%, surpassing the U.S. industrial average by 150 basis points. This high occupancy level reflects ILPT’s effective property management and strong demand for its industrial spaces.</p>
<div class="lb-trans"><p>公司的合并入住率达到了令人印象深刻的 94.1%，超出美国工业平均水平 150 个基点。这一高入住水平反映了 ILPT 有效的物业管理和对其工业空间的强劲需求。</p>
</div><h2>Successful Leasing Activities</h2>
<div class="lb-trans"><h2>成功的租赁活动</h2>
</div><p>ILPT completed leasing activities covering 836,000 square feet, with rental rates averaging 22% higher than previous rates and an average lease term of 8 years. This success in leasing demonstrates the company’s ability to secure long-term, lucrative agreements that enhance its revenue streams.</p>
<div class="lb-trans"><p>ILPT 完成了覆盖 836,000 平方英尺的租赁活动，租金水平平均比之前高出 22%，平均租期为 8 年。这一租赁成功展示了公司确保长期、盈利协议的能力，从而增强其收入来源。</p>
</div><h2>Debt Refinancing Benefits</h2>
<div class="lb-trans"><h2>债务再融资带来的好处</h2>
</div><p>Following a $1.16 billion fixed-rate debt refinancing completed in June, ILPT experienced a $4.4 million reduction in interest expenses. This strategic move has strengthened the company’s financial position by reducing its cost of debt.</p>
<div class="lb-trans"><p>在 6 月份完成了 16.16 亿美元的固定利率债务再融资后，ILPT 的利息支出减少了 440 万美元。这一战略举措通过降低债务成本，增强了公司的财务状况。</p>
</div><h2>Strong Tenant Base</h2>
<div class="lb-trans"><h2>强大的租户基础</h2>
</div><p>Over 76% of ILPT’s annualized revenues are derived from investment-grade rated tenants or secure Hawaii land leases. This strong tenant base provides a stable and reliable income stream, contributing to the company’s financial stability.</p>
<div class="lb-trans"><p>ILPT 超过 76% 的年化收入来自投资级评级的租户或安全的夏威夷土地租赁。这一强大的租户基础提供了稳定可靠的收入来源，有助于公司的财务稳定。</p>
</div><h2>Impairment Charge</h2>
<div class="lb-trans"><h2>减值费用</h2>
</div><p>ILPT recognized a $6.1 million impairment charge on one of its properties held for sale. While this represents a financial setback, the company is actively managing its portfolio to mitigate such impacts.</p>
<div class="lb-trans"><p>ILPT 在其待售物业上确认了 610 万美元的减值费用。虽然这代表了财务上的挫折，但公司正在积极管理其投资组合以减轻此类影响。</p>
</div><h2>Low GAAP Leasing Spread for Mainland Assets</h2>
<div class="lb-trans"><h2>大陆资产的低 GAAP 租赁利差</h2>
</div><p>The company reported a modest 1.8% increase in GAAP rent for its mainland wholly owned assets, primarily due to a specific deal with the United States Postal Service. This highlights a challenge in achieving higher leasing spreads in certain markets.</p>
<div class="lb-trans"><p>公司报告称，其大陆全资资产的 GAAP 租金 modestly 增加了 1.8%，主要是由于与美国邮政服务的特定交易。这突显了在某些市场实现更高租赁利差的挑战。</p>
</div><h2>Vacant Asset Challenges</h2>
<div class="lb-trans"><h2>空置资产挑战</h2>
</div><p>ILPT continues to face challenges with some vacant properties, particularly in locations like Indianapolis and Hawaii. The company is focused on leasing up these assets to improve occupancy and revenue.</p>
<div class="lb-trans"><p>ILPT 继续面临一些空置物业的挑战，特别是在印第安纳波利斯和夏威夷等地。公司专注于租赁这些资产，以改善入住率和收入。</p>
</div><h2>Forward-Looking Guidance</h2>
<div class="lb-trans"><h2>前瞻性指导</h2>
</div><p>Looking ahead, ILPT anticipates normalized FFO per share to be between $0.27 and $0.29 in the fourth quarter of 2025, excluding incentive fees. The company also expects adjusted EBITDAre to range between $84 million and $85 million. Additionally, ILPT plans to sell three properties totaling 867,000 square feet for approximately $55 million, with proceeds partially repaying a $700 million loan. These strategic moves are expected to further strengthen the company’s financial position.</p>
<div class="lb-trans"><p>展望未来，ILPT 预计 2025 年第四季度每股正常化 FFO 将在 0.27 美元至 0.29 美元之间，不包括激励费用。公司还预计调整后的 EBITDAre 将在 8400 万美元至 8500 万美元之间。此外，ILPT 计划出售三处总面积为 867,000 平方英尺的物业，预计售价约为 5500 万美元，部分收益将用于偿还 7 亿美元的贷款。这些战略举措预计将进一步增强公司的财务状况。</p>
</div><p>In summary, Industrial Logistics Properties Trust’s earnings call conveyed a positive sentiment, driven by strong financial performance, high occupancy rates, and successful leasing activities. Despite some challenges, the company’s strategic initiatives and forward-looking guidance suggest a promising outlook for the future.</p>
<div class="lb-trans"><p>总之，工业物流物业信托的财报电话会议传达了积极的情绪，得益于强劲的财务表现、高入住率和成功的租赁活动。尽管面临一些挑战，但公司的战略举措和前瞻性指导表明未来前景乐观。</p>
</div>

工业物流物业信托公司报告强劲的财报电话会议