Industrial Logistics Properties Trust (NASDAQ:ILPT) Director Purchases $17,740.00 in Stock

Industrial Logistics Properties Trust (NASDAQ:ILPT) Director Kevin Phelan purchased 2,000 shares of the firm’s stock in a transaction that occurred on Friday, May 22nd. The stock was acquired at an average price of $8.87 per share, for a total transaction of $17,740.00. Following the completion of the purchase, the director directly owned 7,500 shares of the company’s stock, valued at $66,525. This represents a 36.36% increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link.

Industrial Logistics Properties Trust Trading Up 0.8%

ILPT stock opened at $8.97 on Friday. The company has a debt-to-equity ratio of 4.74, a quick ratio of 4.24 and a current ratio of 4.24. The company’s 50-day simple moving average is $6.96 and its 200 day simple moving average is $6.13. Industrial Logistics Properties Trust has a 52 week low of $3.18 and a 52 week high of $9.15. The company has a market capitalization of $597.99 million, a PE ratio of -10.94 and a beta of 2.47.

Industrial Logistics Properties Trust (NASDAQ:ILPT) last released its quarterly earnings results on Wednesday, April 29th. The company reported ($0.14) EPS for the quarter, beating the consensus estimate of ($0.20) by $0.06. Industrial Logistics Properties Trust had a negative net margin of 11.93% and a negative return on equity of 5.93%. The business had revenue of $116.42 million for the quarter, compared to the consensus estimate of $114.82 million. As a group, sell-side analysts anticipate that Industrial Logistics Properties Trust will post 1.34 earnings per share for the current year.

Industrial Logistics Properties Trust Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 14th. Investors of record on Tuesday, April 21st were paid a $0.05 dividend. The ex-dividend date was Tuesday, April 21st. This represents a $0.20 annualized dividend and a dividend yield of 2.2%. Industrial Logistics Properties Trust’s dividend payout ratio is -24.39%.

Analyst Ratings Changes

ILPT has been the topic of several research reports. Loop Capital set a $7.40 price target on shares of Industrial Logistics Properties Trust in a research note on Tuesday, March 3rd. Weiss Ratings downgraded shares of Industrial Logistics Properties Trust from a “sell (d)” rating to a “sell (d-)” rating in a research note on Thursday. B. Riley Financial restated a “buy” rating on shares of Industrial Logistics Properties Trust in a research note on Thursday, April 23rd. Zacks Research cut shares of Industrial Logistics Properties Trust from a “strong-buy” rating to a “hold” rating in a research report on Friday, May 1st. Finally, Wall Street Zen raised shares of Industrial Logistics Properties Trust from a “hold” rating to a “buy” rating in a research report on Saturday, May 23rd. One equities research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Industrial Logistics Properties Trust presently has a consensus rating of “Hold” and an average price target of $7.40.

Institutional Investors Weigh In On Industrial Logistics Properties Trust

Several institutional investors and hedge funds have recently bought and sold shares of the company. Bank of America Corp DE lifted its position in Industrial Logistics Properties Trust by 23.6% during the first quarter. Bank of America Corp DE now owns 51,792 shares of the company’s stock worth $294,000 after purchasing an additional 9,898 shares during the period. Royal Bank of Canada lifted its holdings in shares of Industrial Logistics Properties Trust by 72.8% in the first quarter. Royal Bank of Canada now owns 11,361 shares of the company’s stock worth $64,000 after acquiring an additional 4,788 shares during the last quarter. Empowered Funds LLC bought a new position in shares of Industrial Logistics Properties Trust in the first quarter worth about $265,000. Quantinno Capital Management LP lifted its holdings in shares of Industrial Logistics Properties Trust by 40.2% in the first quarter. Quantinno Capital Management LP now owns 54,557 shares of the company’s stock worth $310,000 after acquiring an additional 15,637 shares during the last quarter. Finally, Renaissance Technologies LLC lifted its holdings in shares of Industrial Logistics Properties Trust by 59.8% in the first quarter. Renaissance Technologies LLC now owns 458,989 shares of the company’s stock worth $2,607,000 after acquiring an additional 171,689 shares during the last quarter. Institutional investors own 49.08% of the company’s stock.

Industrial Logistics Properties Trust Company Profile

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.