Industrial Logistics Properties Trust

ILPT

REIT - Industrial · Real Estate

Exchange

NASDAQ

Winston Score

Winston is curious

Mixed quality — meaningful strengths and weaknesses.

Data as of Aug 23, 2026 · filings through Jun 30, 2026

How the score breaks down

Quality

Strong

Growth

Good

Cash Flow

Mixed

Stability

Weak

Valuation

Data not available

Dividends

Exceptional

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Winston Score History

The full picture

Industrial Logistics Properties Trust (ILPT) is a real estate company that owns warehouses and distribution centers across the United States. These buildings are rented out to businesses that need space to store and ship goods — think large retailers, e-commerce companies, and logistics firms. ILPT owns roughly 400 properties, with a significant concentration of land in Hawaii leased to tenants on long-term ground leases.

ILPT makes money by collecting rent from its tenants, which is the standard model for a real estate investment trust (REIT). It operates entirely in the U.S., with its mainland portfolio focused on industrial properties and its Hawaiian land holdings providing stable, long-term income. The company carries a heavy debt load taken on during a large acquisition in 2022, and reducing that leverage is the central financial challenge the business faces going forward.

Growth Profile

For growth stock investors

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

+1.8% YoY

YoY Growth Rate

Slow revenue growth

EPS Growth

+31.3% YoY

YoY Growth Rate

EPS growth accelerating

Insider Activity

15.8%ownership

→ Flat

Insider ownership roughly steady over the past year

Cash Position

Cash flow positive

$4.8B cash & investments

Quarterly Free Cash Flow

↑ Burn rate improving

Company generates more cash than it spends — no dilution risk from fundraising

Growth context

Industrial Logistics Properties Trust is growing revenue at 2% year-over-year. The Winston Score measures business quality today — these growth metrics show what could matter tomorrow.

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

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Quality

Profit per sale

Gross Margin

85.2%

Premium pricing power — 85.2% gross margin

Profit after running costs

Operating Margin

31.4%

Excellent — 31.4% operating margin

Return on the money invested

ROCE

3.2%

Weak — 3.2% return on capital

ROIC between 0% and 5%. They earn a few cents back per dollar invested in the business.

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Growth

Sales growth

Sales YoY

+2.7%

Nearly flat sales (+2.7% YoY)

Profit growth

EPS YoY

N/A

—

Data not available

How steady the profit is

EPS Consistency

8/8 quarters

Every recent quarter grew earnings vs last year

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Cash Flow

Profit that turns into cash

Cash Conversion

N/A

—

Data not available

Spare cash per sale

FCF Margin

15.1%

Converts sales into free cash efficiently (15.1%)

FCF margin between 10% and 20%. Every $100 in sales becomes $10 to $20 in real cash.

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Stability

What it owes vs what it owns

Debt / Equity

9.06

Heavy debt load (9.06)

Covers its interest

Interest Cover

0.59x

Dangerous — barely covers interest (0.6x)

Interest coverage below 1. Their profits don't cover the interest bill.

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Valuation

Price vs profit

P/E Ratio (TTM)

N/M

no trend

Negative earnings — P/E not meaningful

Cheaper or dearer next year

P/E vs Forward

N/A

not available

Data not available

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Dividends

Dividend

Dividend Yield

4.82%

no trend

Healthy income — 4.82% yield

Generous yield. Worth checking whether the payout is sustainable.

Dividend record

Dividend Growth

+212.5%

no trend

Dividend growing fast (212.5% YoY)

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