Indus Realty Trust Inc Stock Price, News & Analysis

INDUS Realty Trust, Inc. (Nasdaq: INDT) announced that current CFO Anthony J. Galici will retire at year-end after 24 years in the role. He will assist with the transition until December 31, 2021. The Board has appointed Jon W. Clark as the new Executive Vice President and incoming CFO, effective September 1, 2021, with his official CFO role starting on January 1, 2022. Clark previously served as CFO at Gramercy Property Trust and brings extensive financial experience to INDUS as it aims for continued growth.

INDUS Realty Trust (Nasdaq: INDT) announced its agreement to acquire a fully-leased 139,500 sq ft industrial/logistics building in Lakeland, Florida for $17.8 million. This acquisition, expected to close in Q3 2021, aims to enhance INDUS's presence in Central Florida, a region noted for strong population and economic growth. The property offers strategic access to the I-4 corridor, facilitating distribution to major cities like Orlando and Tampa. However, completion is subject to satisfactory due diligence and other contingencies.

INDUS Realty Trust (Nasdaq: INDT) has announced its upcoming financial results for the second quarter of 2021, set to be released on August 9, 2021. A conference call will follow on August 10, 2021, at 11:00 AM ET for a business update and Q&A session. INDUS operates primarily in the industrial/logistics sector, owning 42 buildings totaling about 5.1 million square feet across multiple states. Additional details will be available on the Company’s website.

INDUS Realty Trust, Inc. (Nasdaq: INDT) reported key second quarter updates for 2021, including leasing and acquisitions. The Company secured a new revolving credit facility of up to $100 million, expected to close in Q3 2021. INDUS acquired two industrial/logistics buildings in Charlotte and Lehigh Valley for $53.7 million and $5.25 million for land in Orlando, planning further development. The industrial portfolio was 99.4% leased, while office/flex space was at 70.8%. Significant future dispositions, totaling $53.7 million, are underway.

INDUS Realty Trust (Nasdaq: INDT) has successfully acquired a 395,000 square foot industrial/logistics building in Charlotte, North Carolina for $42 million. The property, currently 50% leased, enhances INDUS's portfolio in Charlotte to approximately 1 million square feet. The acquisition was financed with cash on hand, providing immediate operational capacity in a strategically located area with excellent access to major highways. Additionally, the company is constructing a 141,000 square foot build-to-suit warehouse, expected to complete by September 30, 2021.

INDUS Realty Trust (Nasdaq: INDT) has announced the acquisition of a 395,000 square foot industrial/logistics building in Charlotte, North Carolina for $42 million. The acquisition, which is expected to close by the end of Q2 2021, aims to enhance INDUS's portfolio and expand its market presence. Additionally, INDUS plans to sell the Connecticut Nursery Farm for $10.3 million, with the sale expected to finalize by the end of Q4 2021. Both transactions are subject to due diligence and other contingencies, and completion is not guaranteed.

INDUS Realty Trust (Nasdaq: INDT) will participate in the Nareit’s REITweek 2021 Investor Conference, slated for June 8-10, 2021. A live presentation by INDUS is scheduled for June 8 at 8:00 AM ET, accessible to virtual attendees. Qualified institutional investors can register via www.reit.com. Additionally, an updated investor presentation will be available on INDUS's website, www.indusrt.com, on the evening of June 7, 2021. INDUS focuses on developing and managing industrial and logistics properties.

INDUS Realty Trust (Nasdaq: INDT) has successfully acquired a fully-leased 127,500 square foot industrial/logistics building in the Lehigh Valley, Pennsylvania, for $11.7 million. The acquisition was funded with cash reserves. CEO Michael Gamzon expressed optimism about the strategic importance of this property, noting that the current rent is below market rates and that there are opportunities for future improvements on the site. This purchase increases INDUS’s holdings in the Lehigh Valley to approximately 1.4 million square feet across high-quality, fully-leased properties.

INDUS Realty Trust (Nasdaq: INDT) reported a net loss of $0.8 million for Q1 2021, compared to a loss of $0.3 million in Q1 2020. Rental revenue increased to $10.1 million, up from $8.9 million, primarily due to new leases. Net Operating Income (NOI) rose to $7.0 million from $6.3 million. The company completed a public offering of 1.9 million shares, netting $108.7 million. With a 99.2% lease rate for its industrial/logistics portfolio, INDUS plans to pay a quarterly dividend of $0.15 per share starting June 30, 2021.