Industrial Logistics Properties Trust (NASDAQ:ILPT) Rating Lowered to Hold at Zacks Research

Industrial Logistics Properties Trust (NASDAQ:ILPT) was downgraded by stock analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a report issued on Thursday,Zacks.com reports.

Separately, Weiss Ratings restated a “sell (d)” rating on shares of Industrial Logistics Properties Trust in a research report on Wednesday. One analyst has rated the stock with a Strong Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $5.00.

Industrial Logistics Properties Trust Trading Down 0.4%

NASDAQ:ILPT opened at $5.33 on Thursday. The firm has a 50 day moving average of $5.64 and a 200 day moving average of $5.70. Industrial Logistics Properties Trust has a 52 week low of $2.45 and a 52 week high of $6.57. The stock has a market capitalization of $355.30 million, a price-to-earnings ratio of -3.95 and a beta of 2.48. The company has a quick ratio of 3.53, a current ratio of 3.53 and a debt-to-equity ratio of 4.59.

Industrial Logistics Properties Trust (NASDAQ:ILPT) last issued its quarterly earnings results on Tuesday, October 28th. The company reported ($0.33) earnings per share for the quarter, missing the consensus estimate of $0.26 by ($0.59). Industrial Logistics Properties Trust had a negative return on equity of 9.20% and a negative net margin of 19.87%.The business had revenue of $110.94 million during the quarter, compared to analyst estimates of $111.93 million.

Institutional Investors Weigh In On Industrial Logistics Properties Trust

Several institutional investors and hedge funds have recently modified their holdings of ILPT. D.A. Davidson & CO. grew its stake in shares of Industrial Logistics Properties Trust by 150.3% in the fourth quarter. D.A. Davidson & CO. now owns 96,600 shares of the company’s stock worth $535,000 after acquiring an additional 58,000 shares in the last quarter. Retirement Planning Co of New England Inc. purchased a new stake in shares of Industrial Logistics Properties Trust in the fourth quarter valued at about $56,000. Madrona Financial Services LLC purchased a new stake in shares of Industrial Logistics Properties Trust during the fourth quarter worth approximately $116,000. JPMorgan Chase & Co. lifted its position in Industrial Logistics Properties Trust by 121.8% in the third quarter. JPMorgan Chase & Co. now owns 119,320 shares of the company’s stock valued at $696,000 after purchasing an additional 65,513 shares during the period. Finally, Tudor Investment Corp ET AL acquired a new stake in Industrial Logistics Properties Trust in the third quarter valued at $922,000. Hedge funds and other institutional investors own 49.08% of the company’s stock.

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.