Industrial Logistics Properties Trust (NASDAQ:ILPT) Downgraded by Zacks Research to Hold

Zacks Research cut shares of Industrial Logistics Properties Trust (NASDAQ:ILPT) from a strong-buy rating to a hold rating in a research report report published on Wednesday morning,Zacks.com reports.

Other analysts have also issued reports about the company. Wall Street Zen upgraded Industrial Logistics Properties Trust from a “hold” rating to a “buy” rating in a research note on Saturday, May 23rd. Loop Capital set a $11.50 price target on shares of Industrial Logistics Properties Trust in a report on Wednesday. Weiss Ratings cut shares of Industrial Logistics Properties Trust from a “sell (d)” rating to a “sell (d-)” rating in a research note on Thursday, May 28th. Finally, B. Riley Financial reaffirmed a “buy” rating on shares of Industrial Logistics Properties Trust in a report on Thursday, April 23rd. One research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $11.50.

Industrial Logistics Properties Trust Stock Performance

NASDAQ ILPT opened at $9.19 on Wednesday. The firm has a market cap of $612.70 million, a P/E ratio of -11.21 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. The company’s 50 day moving average is $8.74 and its 200-day moving average is $7.04. Industrial Logistics Properties Trust has a 12-month low of $4.92 and a 12-month high of $9.37.

Industrial Logistics Properties Trust (NASDAQ:ILPT) last released 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 company had revenue of $116.42 million during the quarter, compared to the consensus estimate of $114.82 million. Sell-side analysts predict that Industrial Logistics Properties Trust will post 1.34 earnings per share for the current year.

Industrial Logistics Properties Trust Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 13th. Shareholders of record on Monday, July 20th will be paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 4.4%. This is an increase from Industrial Logistics Properties Trust’s previous quarterly dividend of $0.05. The ex-dividend date of this dividend is Monday, July 20th. Industrial Logistics Properties Trust’s dividend payout ratio is presently -48.78%.

Hedge Funds Weigh In On Industrial Logistics Properties Trust

A number of large investors have recently modified their holdings of the company. State of Wyoming increased its position in shares of Industrial Logistics Properties Trust by 17.9% in the first quarter. State of Wyoming now owns 14,469 shares of the company’s stock valued at $82,000 after acquiring an additional 2,194 shares during the period. Deutsche Bank AG grew its stake in shares of 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 during the last quarter. Jain Global LLC increased its holdings in Industrial Logistics Properties Trust by 17.3% during the 3rd quarter. Jain Global LLC now owns 16,975 shares of the company’s stock valued at $99,000 after purchasing an additional 2,500 shares during the period. 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 valued at $314,000 after purchasing an additional 2,845 shares during the period. Finally, Hillsdale Investment Management Inc. raised its position 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 valued at $377,000 after purchasing an additional 3,000 shares during the last quarter. 49.08% of the stock is owned by hedge funds and other 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.