Industrial Logistics Properties Trust (NASDAQ:ILPT) Trading 5.3% Higher – Here’s What Happened

Industrial Logistics Properties Trust (NASDAQ:ILPT)’s stock price traded up 5.3% during trading on Tuesday . The company traded as high as $8.42 and last traded at $8.5260. Approximately 7,916 shares traded hands during mid-day trading, a decline of 98% from the average daily volume of 392,091 shares. The stock had previously closed at $8.10.

Analyst Ratings Changes

Several research firms recently commented on ILPT. Zacks Research lowered Industrial Logistics Properties Trust from a “strong-buy” rating to a “hold” rating in a research report on Friday, May 1st. Loop Capital set a $7.40 target price on Industrial Logistics Properties Trust in a report on Tuesday, March 3rd. Wall Street Zen raised Industrial Logistics Properties Trust from a “hold” rating to a “buy” rating in a research report on Saturday, May 23rd. B. Riley Financial restated a “buy” rating on shares of Industrial Logistics Properties Trust in a report on Thursday, April 23rd. Finally, Weiss Ratings downgraded Industrial Logistics Properties Trust from a “sell (d)” rating to a “sell (d-)” rating in a research report on Thursday, May 28th. One analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Industrial Logistics Properties Trust presently has a consensus rating of “Hold” and a consensus price target of $7.40.

Industrial Logistics Properties Trust Stock Performance

The company has a debt-to-equity ratio of 4.74, a current ratio of 4.24 and a quick ratio of 4.24. The stock has a market capitalization of $574.32 million, a PE ratio of -10.51 and a beta of 2.50. The firm has a fifty day moving average price of $7.90 and a two-hundred day moving average price of $6.50.

Industrial Logistics Properties Trust (NASDAQ:ILPT) last posted its quarterly earnings data on Wednesday, April 29th. The company reported ($0.14) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.20) by $0.06. The company had revenue of $116.42 million during the quarter, compared to analysts’ expectations of $114.82 million. Industrial Logistics Properties Trust had a negative return on equity of 5.93% and a negative net margin of 11.93%. Research analysts expect that Industrial Logistics Properties Trust will post 1.34 EPS for the current year.

Industrial Logistics Properties Trust Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 14th. Investors of record on Tuesday, April 21st were issued a dividend of $0.05 per share. The ex-dividend date was Tuesday, April 21st. This represents a $0.20 dividend on an annualized basis and a yield of 2.3%. Industrial Logistics Properties Trust’s dividend payout ratio (DPR) is presently -24.39%.

Hedge Funds Weigh In On Industrial Logistics Properties Trust

A number of hedge funds have recently added to or reduced their stakes in the stock. State of Wyoming increased its position in shares of Industrial Logistics Properties Trust by 17.9% during the first quarter. State of Wyoming now owns 14,469 shares of the company’s stock worth $82,000 after acquiring an additional 2,194 shares during the period. Deutsche Bank AG grew its stake in Industrial Logistics Properties Trust by 3.0% in the fourth quarter. Deutsche Bank AG now owns 85,843 shares of the company’s stock worth $476,000 after purchasing an additional 2,496 shares in the last quarter. Jain Global LLC grew its stake in Industrial Logistics Properties Trust by 17.3% in the third quarter. Jain Global LLC now owns 16,975 shares of the company’s stock worth $99,000 after purchasing an additional 2,500 shares in the last quarter. Verition Fund Management LLC increased its holdings in Industrial Logistics Properties Trust by 5.6% during the 3rd quarter. Verition Fund Management LLC now owns 53,861 shares of the company’s stock worth $314,000 after purchasing an additional 2,845 shares during the period. Finally, Hillsdale Investment Management Inc. increased its holdings in Industrial Logistics Properties Trust by 4.7% during the 1st quarter. Hillsdale Investment Management Inc. now owns 66,300 shares of the company’s stock worth $377,000 after purchasing an additional 3,000 shares during the period. 49.08% of the stock is currently owned by institutional investors.

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.