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
Corporate docs
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
News
Press releases
INDUS Announces Second Quarter 2022 Results
8 Aug 22
INDUS Announces 2022 Second Quarter Earnings Call
14 Jul 22
Indus Announces 2022 Second Quarter Leasing, Pipeline and Corporate Updates
6 Jul 22
INDUS Announces Quarterly Cash Dividend
13 Jun 22
INDUS Announces the Acquisition of a 205,000 Square Foot Portfolio in Orlando and Palm Beach
9 Jun 22
Analyst ratings and price targets
Current price
Average target
$75.50
Low target
$70.00
High target
$81.00
Colliers Securities
Initiated
$70.00
JMP Securities
Maintains
$81.00
Investment data
Securities sold
Number of investors
Calendar
9 Aug 22
12 Aug 22
31 Dec 22
Financial summary
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Diluted EPS |
Annual (USD) | Dec 21 | Nov 20 | Nov 19 | Nov 18 | |
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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 |
Recent insider trades
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 |
Institutional ownership, Q1 2022
85.9% owned by funds/institutions
13F holders | Current |
---|---|
Total holders | 76 |
Opened positions | 17 |
Closed positions | 7 |
Increased positions | 23 |
Reduced positions | 23 |
13F shares | Current |
---|---|
Total value | 622.99M |
Total shares | 8.75M |
Total puts | 0 |
Total calls | 0 |
Total put/call ratio | – |
Largest owners | Shares | Value |
---|---|---|
Centerbridge Partners | 1.36M | $99.2M |
Conversant Capital | 1.05M | $76.68M |
CCP SBS GP | 971.96K | $63.18M |
Monarch Alternative Capital | 923.1K | $67.47M |
CM Change Industrial | 837.92K | $55.22M |
Gabelli Funds | 531.86K | $38.87M |
GBL Gamco Investors | 491.17K | $35.9M |
Timbercreek Investment Management | 407.45K | $29.52M |
BLK Blackrock | 343.25K | $25.09M |
Gabelli Equity Series Funds | 255.7K | $15.98M |
Financial report summary
?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
Content analysis
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Readability |
H.S. junior Avg
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New words:
Beach, drawn, encumbered, headcount, implementation, ownership, Palm, prepaid, prepayment, reclassification, satisfaction, software, system
Removed:
affiliate, approximated, bank, expire, line, reduction, removal, replaced, scheduled, September, snow, Webster
Financial reports
Current reports
8-K
Results of Operations and Financial Condition
8 Aug 22
8-K
Indus Announces 2022 Second Quarter Leasing, Pipeline and Corporate Updates
6 Jul 22
8-K
Submission of Matters to a Vote of Security Holders
16 Jun 22
8-K
Regulation FD Disclosure
13 Jun 22
8-K
Indus Announces the Acquisition of a 205,000 Square Foot Portfolio In Orlando and Palm Beach
9 Jun 22
8-K
Regulation FD Disclosure
6 Jun 22
8-K
Results of Operations and Financial Condition
10 May 22
8-K
Entry into a Material Definitive Agreement
25 Apr 22
8-K
Indus Announces 2022 First Quarter Leasing and Pipeline Updates
5 Apr 22
8-K
Results of Operations and Financial Condition
7 Mar 22
Registration and prospectus
424B5
Prospectus supplement for primary offering
7 Oct 21
424B5
Prospectus supplement for primary offering
5 Oct 21
424B5
Prospectus supplement for primary offering
2 Sep 21
424B3
Prospectus supplement
11 Aug 21
424B5
Prospectus supplement for primary offering
3 Mar 21
FWP
Free writing prospectus
2 Mar 21
424B5
Prospectus supplement for primary offering
1 Mar 21
S-3
Shelf registration
2 Feb 21
Other
EFFECT
Notice of effectiveness
11 Aug 21
EFFECT
Notice of effectiveness
11 Aug 21
CORRESP
Correspondence with SEC
5 Aug 21
CORRESP
Correspondence with SEC
5 Aug 21
UPLOAD
Letter from SEC
4 Aug 21
UPLOAD
Letter from SEC
19 Jul 21
EFFECT
Notice of effectiveness
23 Feb 21
EFFECT
Notice of effectiveness
8 Jan 21
EFFECT
Notice of effectiveness
24 Apr 18
CORRESP
Correspondence with SEC
22 Apr 18
Ownership
4
INDUS REALTY TRUST / EDGAR CULLMAN JR ownership change
2 Aug 22
4
INDUS REALTY TRUST / LUCY C DANZIGER ownership change
16 Jun 22
4
INDUS REALTY TRUST / JONATHAN P MAY ownership change
16 Jun 22
4
INDUS REALTY TRUST / FREDERICK M DANZIGER ownership change
16 Jun 22
4
INDUS REALTY TRUST / Molly North ownership change
16 Jun 22
4
INDUS REALTY TRUST / ALBERT H SMALL JR ownership change
16 Jun 22
4
INDUS REALTY TRUST / Silverman Amy Rose ownership change
16 Jun 22
4
INDUS REALTY TRUST / GORDON F DUGAN ownership change
16 Jun 22
4
INDUS REALTY TRUST / David R Bechtel ownership change
16 Jun 22
4
INDUS REALTY TRUST / Jon W. Clark ownership change
14 Jun 22
Transcripts
2022 Q2
Earnings call transcript
10 Aug 22
2022 Q1
Earnings call transcript
14 May 22
2021 Q4
Earnings call transcript
7 Mar 22
2021 Q3
Earnings call transcript
5 Nov 21
2021 Q2
Earnings call transcript
10 Aug 21
2021 Q1
Earnings call transcript
11 May 21
2020 Q4
Earnings call transcript
19 Feb 21
2020 Q3
Earnings call transcript
9 Oct 20
2020 Q3
Earnings call transcript
9 Oct 20
2020 Q2
Earnings call transcript
10 Jul 20
Reddit threads
Daily Discussion Thread - August 5th, 2022
5 Aug 22
Daily Discussion Thread - June 29th, 2022
29 Jun 22
Daily Discussion Thread - June 28th, 2022
28 Jun 22
Daily Discussion Thread - June 27th, 2022
27 Jun 22
Daily Discussion Thread - May 10th, 2022
10 May 22
Daily Discussion Thread - May 9th, 2022
9 May 22
Daily Discussion Thread - March 30th, 2022
30 Mar 22
Daily Discussion Thread - March 29th, 2022
29 Mar 22
Daily Discussion Thread - March 28th, 2022
28 Mar 22
Daily Discussion Thread - March 7th, 2022
7 Mar 22