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INDUS REALTY TRUST, INC.

indusrt.com

No Longer Reporting

The company has not filed an annual or quarterly report since its Q1 FY2023 10-Q, filed May 3, 2023. Its latest SEC filing is a D from Jul 13, 2023.

The sections below describe the company as of the FY2022 annual report.

What Did They Do?

Develops, acquires, manages and leases industrial and logistics properties to business tenants.

Who Were Their Customers?

Business tenants lease industrial and logistics buildings for warehousing and distribution.

Did Revenues Turn Into Profits?

Yes. It kept 12 cents of every revenue dollar as net income in FY2022.

Net income, FY2022
12% of revenue
▼ −57% vs FY2021 ($14.1M, 33%)

How Were They Changing?

Since the FY2022 annual report
Latest quarter: Q1 FY2023, the three months to Mar 31, 2023
Net income
▼ Now a loss
vs $269K in Q1 FY2022
  • Jun 29, 2023 Centerbridge and GIC acquired INDUS, which became a subsidiary and was delisted Shares were converted into the right to receive $67.00 in cash per share.

Exit from office/flex The earlier report included office/flex holdings alongside industrial/warehouse properties. The latest report says INDUS sold the remaining office/flex buildings and primarily holds industrial/logistics properties and undeveloped land.

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