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INDUS Realty Trust (INDT)

Griffin Industrial Realty, Inc. is a real estate business principally engaged in developing, acquiring, managing and leasing industrial/warehouse properties. Griffin recently completed the sale of an approximately 40,000 square foot office/flex building and currently owns 41 buildings totaling approximately 4.6 million square feet (4.2 million of which is industrial/warehouse space) in Connecticut, Pennsylvania, North Carolina and Florida in addition to over 3,400 acres of undeveloped land.

Company profile

Ticker
INDT
Exchange
Website
CEO
Michael Gamzon
Employees
Incorporated
Location
Fiscal year end
Industry (SIC)
Former names
GRIFFIN INDUSTRIAL REALTY, INC., GRIFFIN LAND & NURSERIES INC
SEC CIK
Subsidiaries
River Bend Holdings • Riverbend Lehigh Valley Holdings • Riverbend Crossings III Holdings • Riverbend Bethlehem Holdings • Riverbend Allentown Holdings • Riverbend Orlando Holdings ...
IRS number
60868486

INDT stock data

Analyst ratings and price targets

Last 3 months

Investment data

Data from SEC filings
Securities sold
Number of investors

Calendar

9 Aug 22
12 Aug 22
31 Dec 22
Quarter (USD) Jun 22 Mar 22 Dec 21 Sep 21
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD) Dec 21 Nov 20 Nov 19 Nov 18
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Cash burn rate (est.) Burn method: Change in cash Burn method: Operating income Burn method: FCF (opex + capex)
Last Q Avg 4Q Last Q Avg 4Q Last Q Avg 4Q
Cash on hand (at last report) 76.71M 76.71M 76.71M 76.71M 76.71M 76.71M
Cash burn (monthly) 16.56M (no burn) (no burn) (no burn) (no burn) (no burn)
Cash used (since last report) 23.79M n/a n/a n/a n/a n/a
Cash remaining 52.92M n/a n/a n/a n/a n/a
Runway (months of cash) 3.2 n/a n/a n/a n/a n/a

Beta Read what these cash burn values mean

Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
14 Jun 22 Jon W. Clark Common Stock Buy Acquire P No No 56.48 1,000 56.48K 1,000
14 Jun 22 Bechtel David R RSU Common Stock Grant Acquire A No No 0 789 0 789
14 Jun 22 Gordon F Dugan RSU Common Stock Grant Acquire A No No 0 789 0 789
14 Jun 22 Rose Silverman Amy RSU Common Stock Grant Acquire A No No 0 789 0 789
14 Jun 22 Small Albert H JR RSU Common Stock Grant Acquire A No No 0 789 0 789
85.9% owned by funds/institutions
13F holders Current Prev Q Change
Total holders 76 66 +15.2%
Opened positions 17 14 +21.4%
Closed positions 7 4 +75.0%
Increased positions 23 34 -32.4%
Reduced positions 23 7 +228.6%
13F shares Current Prev Q Change
Total value 622.99M 671.43M -7.2%
Total shares 8.75M 8.69M +0.7%
Total puts 0 0
Total calls 0 0
Total put/call ratio
Largest owners Shares Value Change
Centerbridge Partners 1.36M $99.2M +38.7%
Conversant Capital 1.05M $76.68M 0.0%
CCP SBS GP 971.96K $63.18M 0.0%
Monarch Alternative Capital 923.1K $67.47M 0.0%
CM Change Industrial 837.92K $55.22M 0.0%
Gabelli Funds 531.86K $38.87M -2.0%
GBL Gamco Investors 491.17K $35.9M -3.7%
Timbercreek Investment Management 407.45K $29.52M +29.8%
BLK Blackrock 343.25K $25.09M +0.3%
Gabelli Equity Series Funds 255.7K $15.98M 0.0%
Largest transactions Shares Bought/sold Change
Centerbridge Partners 1.36M +378.53K +38.7%
Pacer Advisors 63.08K -124.28K -66.3%
DBRG DigitalBridge 220.49K -123.2K -35.8%
Dimensional Fund Advisors 53.69K -98.62K -64.7%
Timbercreek Investment Management 407.45K +93.62K +29.8%
Employees Retirement System of Texas 0 -89.9K EXIT
Vanguard 144.66K -72.09K -33.3%
Jane Street 37.05K +37.05K NEW
HRT Financial 23.98K +23.98K NEW
GBL Gamco Investors 491.17K -18.9K -3.7%

Financial report summary

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Management Discussion
  • The Company’s net income was approximately $2.8 million for the three months ended June 30, 2022 as compared to a net loss of approximately $1.2 million for the three months ended June 30, 2021. The Company’s rental revenue increased approximately 26% compared to the same quarter of the prior year.  
  • The Company’s net income was approximately $3.1 million for the six months ended June 30, 2022 as compared to a net loss of $1.9 million for the six months ended June 30, 2021. The Company’s rental revenue increased approximately 23% compared to the same six month period of the prior year.  The Company’s in-service occupancy was 99.4% and 95.3% as of June 30, 2022 and 2021, respectively.  At June 30, 2022, the Company owned 39 buildings aggregating approximately 5.7 million square feet as compared to 32 buildings aggregating approximately 4.7 million square feet as of June 30, 2021. In addition, as of June 30, 2022, the Company had five buildings under contract for purchase comprising approximately 1.0 million square feet at an estimated purchase price of approximately $109.2 million and land under development or under contract to develop six buildings comprising an additional 0.8 million square feet with an estimated investment of $103.8 million, of which $40.5 million had been spent as of June 30, 2022.
  • Net income from discontinued operations was approximately $0.3 million and $0.1 million for the three months ended June 30, 2022 and 2021, respectively. Net income from discontinued operations was approximately $0.4 million and $0.1 million for the six months ended June 30, 2022 and 2021, respectively. Included in net income from

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