Industrial Logistics Properties Trust (NASDAQ:ILPT) Posts Quarterly Earnings Results, Misses Expectations By $0.03 EPS

Industrial Logistics Properties Trust (NASDAQ:ILPT) posted its quarterly earnings results on Wednesday. The company reported ($0.22) EPS for the quarter, missing the consensus estimate of ($0.19) by ($0.03), FiscalAI reports. 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 $114.12 million during the quarter, compared to analyst estimates of $116.10 million.

Industrial Logistics Properties Trust Trading Down 3.5%

Shares of ILPT traded down $0.32 during trading on Wednesday, reaching $8.73. 341,371 shares of the company traded hands, compared to its average volume of 414,522. 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 stock has a market cap of $582.36 million, a PE ratio of -10.65 and a beta of 2.50. The stock has a 50-day simple moving average of $8.80 and a 200-day simple moving average of $7.11. Industrial Logistics Properties Trust has a twelve month low of $4.92 and a twelve month high of $9.43.

Industrial Logistics Properties Trust Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 13th. Shareholders of record on Monday, July 20th will be given a dividend of $0.10 per share. This is a boost from Industrial Logistics Properties Trust’s previous quarterly dividend of $0.05. This represents a $0.40 dividend on an annualized basis and a dividend yield of 4.6%. The ex-dividend date is Monday, July 20th. Industrial Logistics Properties Trust’s dividend payout ratio (DPR) is -48.78%.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in ILPT. Corient Private Wealth LLC boosted its holdings in Industrial Logistics Properties Trust by 32.5% in the fourth quarter. Corient Private Wealth LLC now owns 23,287 shares of the company’s stock valued at $129,000 after purchasing an additional 5,711 shares during the period. Inspire Investing LLC purchased a new stake in Industrial Logistics Properties Trust during the 4th quarter worth about $1,263,000. AQR Capital Management LLC raised its position in Industrial Logistics Properties Trust by 10.8% in the 4th quarter. AQR Capital Management LLC now owns 70,969 shares of the company’s stock valued at $393,000 after purchasing an additional 6,894 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in shares of Industrial Logistics Properties Trust by 14.4% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 32,541 shares of the company’s stock valued at $181,000 after buying an additional 4,099 shares during the period. Finally, Public Employees Retirement System of Ohio acquired a new position in shares of Industrial Logistics Properties Trust during the fourth quarter worth about $103,000. Institutional investors and hedge funds own 49.08% of the company’s stock.

Analysts Set New Price Targets

ILPT has been the subject of several analyst reports. Wall Street Zen upgraded Industrial Logistics Properties Trust from a “hold” rating to a “buy” rating in a report on Saturday, May 23rd. Weiss Ratings lowered Industrial Logistics Properties Trust from a “sell (d)” rating to a “sell (d-)” rating in a report on Thursday, May 28th. Loop Capital set a $11.50 price target on shares of Industrial Logistics Properties Trust in a research report on Wednesday, July 22nd. B. Riley Financial reissued a “buy” rating on shares of Industrial Logistics Properties Trust in a report on Thursday, April 23rd. Finally, Zacks Research cut shares of Industrial Logistics Properties Trust from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 22nd. One investment analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $11.50.

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.