Industrial Logistics Properties Trust (NASDAQ:ILPT) Stock Price Target Lowered at Freedom Broker

Industrial Logistics Properties Trust (NASDAQ:ILPT) had its target price reduced by stock analysts at Freedom Broker from $11.00 to $10.00 in a research note issued to investors on Tuesday, Benzinga reports. The firm presently has a “buy” rating on the stock. Freedom Broker‘s price objective points to a potential upside of 56.86% from the stock’s previous close.

A number of other equities analysts also recently weighed in on ILPT. B. Riley Financial decreased their target price on shares of Industrial Logistics Properties Trust from $11.00 to $10.00 and set a “buy” rating for the company in a research note on Monday. Weiss Ratings reissued a “sell (d)” rating on shares of Industrial Logistics Properties Trust in a research report on Wednesday, October 28th. Loop Capital set a $11.50 price target on Industrial Logistics Properties Trust in a research note on Wednesday, July 22nd. Wall Street Zen lowered Industrial Logistics Properties Trust from a “buy” rating to a “hold” rating in a research report on Saturday, August 1st. Finally, Zacks Research cut Industrial Logistics Properties Trust from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, October 28th. Two equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $10.50.

Industrial Logistics Properties Trust Stock Down 3.4%

Shares of NASDAQ:ILPT traded down $0.23 during midday trading on Tuesday, reaching $6.38. The company’s stock had a trading volume of 298,172 shares, compared to its average volume of 399,896. The firm has a 50 day moving average of $7.47 and a 200-day moving average of $7.36. The firm has a market capitalization of $425.53 million, a P/E ratio of -7.52 and a beta of 2.54. The company has a quick ratio of 4.11, a current ratio of 4.11 and a debt-to-equity ratio of 4.97. Industrial Logistics Properties Trust has a 12-month low of $5.01 and a 12-month high of $9.43.

Industrial Logistics Properties Trust (NASDAQ:ILPT) last issued its quarterly earnings results on Wednesday, October 28th. The company reported ($0.46) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.14) by ($0.32). Industrial Logistics Properties Trust had a negative return on equity of 6.39% and a negative net margin of 12.12%. The business had revenue of $116.81 million during the quarter, compared to the consensus estimate of $117.48 million. On average, research analysts anticipate that Industrial Logistics Properties Trust will post 1.24 earnings per share for the current year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. State of Wyoming purchased a new stake in shares of Industrial Logistics Properties Trust during the third quarter valued at approximately $294,000. D.A. Davidson & CO. increased its position in shares of Industrial Logistics Properties Trust by 3.7% during the third quarter. D.A. Davidson & CO. now owns 141,687 shares of the company’s stock valued at $1,006,000 after acquiring an additional 5,087 shares in the last quarter. Asset Management One Co. Ltd. increased its position in shares of Industrial Logistics Properties Trust by 7.0% during the third quarter. Asset Management One Co. Ltd. now owns 88,883 shares of the company’s stock valued at $631,000 after acquiring an additional 5,828 shares in the last quarter. Sequoia Financial Advisors LLC raised its holdings in Industrial Logistics Properties Trust by 24.4% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 38,432 shares of the company’s stock worth $341,000 after acquiring an additional 7,538 shares during the last quarter. Finally, Bank of New York Mellon Corp purchased a new position in Industrial Logistics Properties Trust in the 2nd quarter worth approximately $1,758,000. 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.