Industrial Logistics Properties Trust (NASDAQ:ILPT) Announces Earnings Results

Industrial Logistics Properties Trust (NASDAQ:ILPT) issued its quarterly earnings results on Wednesday. The company reported ($0.14) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.20) by $0.06, FiscalAI reports. The company had revenue of $116.42 million for the quarter, compared to analyst estimates of $114.88 million. Industrial Logistics Properties Trust had a negative net margin of 14.75% and a negative return on equity of 7.08%.

Industrial Logistics Properties Trust Stock Down 1.7%

Shares of ILPT stock traded down $0.13 during trading hours on Wednesday, reaching $7.51. 536,179 shares of the stock were exchanged, compared to its average volume of 317,248. The firm has a market capitalization of $500.56 million, a P/E ratio of -7.44 and a beta of 2.39. Industrial Logistics Properties Trust has a 12-month low of $2.48 and a 12-month high of $7.79. The company has a debt-to-equity ratio of 4.66, a current ratio of 4.29 and a quick ratio of 4.29. The business’s fifty day moving average is $6.13 and its two-hundred day moving average is $5.76.

Industrial Logistics Properties Trust Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 14th. Investors of record on Tuesday, April 21st will be paid a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date is Tuesday, April 21st. Industrial Logistics Properties Trust’s dividend payout ratio is presently -19.80%.

Analyst Ratings Changes

A number of analysts have issued reports on ILPT shares. B. Riley Financial reiterated a “buy” rating on shares of Industrial Logistics Properties Trust in a research note on Thursday, April 23rd. Zacks Research upgraded shares of Industrial Logistics Properties Trust from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, April 22nd. Loop Capital set a $7.40 price target on shares of Industrial Logistics Properties Trust in a research note on Tuesday, March 3rd. Finally, Weiss Ratings reiterated a “sell (d)” rating on shares of Industrial Logistics Properties Trust in a research note on Monday. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $6.20.

Hedge Funds Weigh In On Industrial Logistics Properties Trust

Hedge funds have recently added to or reduced their stakes in the stock. Quarry LP purchased a new position in Industrial Logistics Properties Trust in the third quarter valued at approximately $28,000. Advisory Services Network LLC purchased a new position in Industrial Logistics Properties Trust in the third quarter valued at approximately $34,000. Royal Bank of Canada increased its stake in Industrial Logistics Properties Trust by 387.2% in the fourth quarter. Royal Bank of Canada now owns 6,573 shares of the company’s stock valued at $36,000 after purchasing an additional 5,224 shares during the last quarter. Strs Ohio purchased a new position in Industrial Logistics Properties Trust in the first quarter valued at approximately $42,000. Finally, State of Wyoming purchased a new position in Industrial Logistics Properties Trust in the fourth quarter valued at approximately $68,000. 49.08% of the stock is currently owned by hedge funds and other institutional investors.

About Industrial Logistics Properties Trust

Industrial Logistics Properties Trust (NASDAQ: ILPT) is a real estate investment trust focused on acquiring, owning and operating industrial logistics properties across the United States. The company specializes in modern distribution centers, cross-dock facilities and last-mile delivery hubs designed to support e-commerce, retail, manufacturing and third-party logistics customers. ILPT’s assets are characterized by high ceilings, ample loading docks and clear spans to accommodate a wide range of warehouse functions.

Formed as a spin-off from STAG Industrial, Inc in January 2022, ILPT commenced operations with a portfolio of strategically located facilities and a disciplined acquisition strategy.