Union Square Park Capital Management LLC Lowers Position in Industrial Logistics Properties Trust $ILPT

Union Square Park Capital Management LLC lessened its holdings in Industrial Logistics Properties Trust (NASDAQ:ILPT) by 25.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 950,000 shares of the company’s stock after selling 325,000 shares during the quarter. Industrial Logistics Properties Trust accounts for approximately 2.0% of Union Square Park Capital Management LLC’s holdings, making the stock its 10th biggest holding. Union Square Park Capital Management LLC owned approximately 1.43% of Industrial Logistics Properties Trust worth $5,538,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in ILPT. Invesco Ltd. raised its stake in Industrial Logistics Properties Trust by 201.2% during the third quarter. Invesco Ltd. now owns 551,302 shares of the company’s stock worth $3,214,000 after acquiring an additional 368,294 shares in the last quarter. UBS Group AG grew its holdings in shares of Industrial Logistics Properties Trust by 722.2% in the 3rd quarter. UBS Group AG now owns 192,717 shares of the company’s stock worth $1,124,000 after purchasing an additional 169,277 shares during the last quarter. BNP Paribas Financial Markets grew its holdings in shares of Industrial Logistics Properties Trust by 671.1% in the 3rd quarter. BNP Paribas Financial Markets now owns 40,907 shares of the company’s stock worth $238,000 after purchasing an additional 35,602 shares during the last quarter. Russell Investments Group Ltd. increased its position in shares of Industrial Logistics Properties Trust by 21.3% during the 3rd quarter. Russell Investments Group Ltd. now owns 82,111 shares of the company’s stock worth $479,000 after purchasing an additional 14,424 shares in the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in Industrial Logistics Properties Trust by 18.5% during the 3rd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 44,602 shares of the company’s stock valued at $260,000 after purchasing an additional 6,950 shares during the last quarter. 49.08% of the stock is owned by institutional investors and hedge funds.

Industrial Logistics Properties Trust Trading Down 0.7%

Shares of NASDAQ ILPT opened at $6.06 on Friday. Industrial Logistics Properties Trust has a 1-year low of $2.45 and a 1-year high of $6.68. The company has a 50-day moving average of $5.79 and a two-hundred day moving average of $5.73. The company has a market cap of $403.90 million, a PE ratio of -6.00 and a beta of 2.46. The company has a current ratio of 4.29, a quick ratio of 4.29 and a debt-to-equity ratio of 4.66.

Industrial Logistics Properties Trust (NASDAQ:ILPT) last issued its quarterly earnings results on Wednesday, February 18th. The company reported ($0.03) earnings per share for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.31). The company had revenue of $113.91 million during the quarter, compared to analyst estimates of $111.73 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 Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, February 19th. Stockholders of record on Monday, January 26th were given a dividend of $0.05 per share. The ex-dividend date was Monday, January 26th. This represents a $0.20 annualized dividend and a dividend yield of 3.3%. Industrial Logistics Properties Trust’s payout ratio is currently -19.80%.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. Weiss Ratings reissued a “sell (d)” rating on shares of Industrial Logistics Properties Trust in a report on Wednesday, January 28th. Zacks Research cut Industrial Logistics Properties Trust from a “strong-buy” rating to a “hold” rating in a report on Thursday, January 29th. Finally, Loop Capital set a $7.40 price objective on Industrial Logistics Properties Trust in a research report on Tuesday, March 3rd. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $6.20.

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.