Industrial Logistics Properties Trust (NASDAQ:ILPT) Hits New 1-Year High – Time to Buy?

Industrial Logistics Properties Trust (NASDAQ:ILPT) shares hit a new 52-week high during mid-day trading on Friday . The company traded as high as $9.17 and last traded at $9.0410, with a volume of 37636 shares. The stock had previously closed at $9.01.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Loop Capital set a $7.40 price target on shares of Industrial Logistics Properties Trust in a research report on Tuesday, March 3rd. 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. Wall Street Zen raised shares of Industrial Logistics Properties Trust from a “hold” rating to a “buy” rating in a research note on Saturday, May 23rd. Weiss Ratings lowered shares of Industrial Logistics Properties Trust from a “sell (d)” rating to a “sell (d-)” rating in a report on Thursday, May 28th. Finally, B. Riley Financial reissued a “buy” rating on shares of Industrial Logistics Properties Trust in a research note on Thursday, April 23rd. One equities research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Industrial Logistics Properties Trust has an average rating of “Hold” and an average price target of $7.40.

Industrial Logistics Properties Trust Trading Up 0.7%

The business’s 50-day simple moving average is $7.48 and its two-hundred day simple moving average is $6.35. The firm has a market capitalization of $604.83 million, a price-to-earnings ratio of -11.02 and a beta of 2.50. The company has a quick ratio of 4.24, a current ratio of 4.24 and a debt-to-equity ratio of 4.74.

Industrial Logistics Properties Trust (NASDAQ:ILPT) last issued its quarterly earnings data on Wednesday, April 29th. The company reported ($0.14) EPS for the quarter, topping 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 firm had revenue of $116.42 million for the quarter, compared to analyst estimates of $114.82 million. Equities analysts forecast that Industrial Logistics Properties Trust will post 1.34 earnings per share for the current year.

Industrial Logistics Properties Trust Dividend Announcement

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

Institutional Investors Weigh In On Industrial Logistics Properties Trust

Several institutional investors and hedge funds have recently modified their holdings of the company. Bank of America Corp DE lifted its stake in Industrial Logistics Properties Trust by 23.6% during the 1st quarter. Bank of America Corp DE now owns 51,792 shares of the company’s stock worth $294,000 after acquiring an additional 9,898 shares in the last quarter. Royal Bank of Canada grew its position in Industrial Logistics Properties Trust by 72.8% in the 1st quarter. Royal Bank of Canada now owns 11,361 shares of the company’s stock valued at $64,000 after acquiring an additional 4,788 shares in the last quarter. Empowered Funds LLC acquired a new position in Industrial Logistics Properties Trust in the 1st quarter valued at about $265,000. Quantinno Capital Management LP increased its stake in Industrial Logistics Properties Trust by 40.2% during the first quarter. Quantinno Capital Management LP now owns 54,557 shares of the company’s stock worth $310,000 after purchasing an additional 15,637 shares during the period. Finally, Renaissance Technologies LLC increased its stake in Industrial Logistics Properties Trust by 59.8% during the first quarter. Renaissance Technologies LLC now owns 458,989 shares of the company’s stock worth $2,607,000 after purchasing an additional 171,689 shares during the period. Hedge funds and other 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.