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

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

A number of other equities analysts have also recently issued reports on ILPT. Weiss Ratings reiterated a “sell (d)” rating on shares of Industrial Logistics Properties Trust in a research note on Wednesday. Wall Street Zen downgraded shares of Industrial Logistics Properties Trust from a “buy” rating to a “hold” rating in a research report on Saturday, August 1st. Finally, Loop Capital set a $11.50 price objective on shares of Industrial Logistics Properties Trust in a research note on Wednesday, July 22nd. One equities research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $11.50.

Industrial Logistics Properties Trust Stock Performance

Industrial Logistics Properties Trust stock opened at $6.98 on Wednesday. Industrial Logistics Properties Trust has a twelve month low of $5.01 and a twelve month high of $9.43. The company has a quick ratio of 4.11, a current ratio of 4.11 and a debt-to-equity ratio of 4.97. The company has a market capitalization of $465.89 million, a P/E ratio of -8.21 and a beta of 2.54. The stock’s 50 day moving average is $7.54 and its 200 day moving average is $7.35.

Industrial Logistics Properties Trust (NASDAQ:ILPT) last announced its quarterly earnings data on Wednesday, October 28th. The company reported ($0.46) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.32). Industrial Logistics Properties Trust had a negative net margin of 12.12% and a negative return on equity of 6.39%. The company had revenue of $116.81 million for the quarter, compared to analysts’ expectations of $117.48 million. On average, equities research analysts predict that Industrial Logistics Properties Trust will post 1.37 earnings per share for the current fiscal year.

Industrial Logistics Properties Trust Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 12th. Stockholders of record on Monday, October 19th will be issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 5.7%. The ex-dividend date of this dividend is Monday, October 19th. Industrial Logistics Properties Trust’s dividend payout ratio is presently -47.06%.

Institutional Investors Weigh In On Industrial Logistics Properties Trust

Several institutional investors have recently modified their holdings of ILPT. Renaissance Technologies LLC grew its stake in shares of Industrial Logistics Properties Trust by 59.8% in the first quarter. Renaissance Technologies LLC now owns 458,989 shares of the company’s stock worth $2,607,000 after acquiring an additional 171,689 shares during the period. Bank of New York Mellon Corp purchased a new position in shares of Industrial Logistics Properties Trust during the second quarter valued at approximately $1,758,000. Arrowstreet Capital Limited Partnership bought a new position in Industrial Logistics Properties Trust during the first quarter valued at approximately $1,243,000. Public Employees Retirement System of Ohio lifted its position in Industrial Logistics Properties Trust by 240.6% during the first quarter. Public Employees Retirement System of Ohio now owns 63,384 shares of the company’s stock valued at $360,000 after purchasing an additional 44,772 shares during the period. Finally, Bank of America Corp DE boosted its holdings in Industrial Logistics Properties Trust by 23.6% in the first quarter. Bank of America Corp DE now owns 51,792 shares of the company’s stock worth $294,000 after purchasing an additional 9,898 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 owning and leasing industrial and logistics properties. Its portfolio includes distribution centers, warehouse facilities, and other properties used for transportation, storage, manufacturing, and related business activities.

The company serves tenants across the United States, with properties located in a variety of major logistics markets and industrial regions. Its facilities support supply-chain operations for businesses that require strategically located space near transportation networks and population centers.

Industrial Logistics Properties Trust was established in 2017 and is externally managed by The RMR Group, a property management and real estate services company.