Industrial Logistics Properties Trust (NASDAQ:ILPT) Hits New 52-Week High – What’s Next?

Industrial Logistics Properties Trust (NASDAQ:ILPT) reached a new 52-week high during trading on Friday . The stock traded as high as $9.17 and last traded at $9.0410, with a volume of 37636 shares trading hands. The stock had previously closed at $9.01.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the stock. Wall Street Zen raised shares of Industrial Logistics Properties Trust from a “hold” rating to a “buy” rating in a research note on Saturday, May 23rd. Weiss Ratings cut shares of Industrial Logistics Properties Trust from a “sell (d)” rating to a “sell (d-)” rating in a research report on Thursday, May 28th. B. Riley Financial restated a “buy” rating on shares of Industrial Logistics Properties Trust in a research note on Thursday, April 23rd. Zacks Research cut Industrial Logistics Properties Trust from a “strong-buy” rating to a “hold” rating in a research note on Friday, May 1st. Finally, Loop Capital set a $7.40 price objective on Industrial Logistics Properties Trust in a research note on Tuesday, March 3rd. One investment analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $7.40.

Industrial Logistics Properties Trust Stock Up 0.7%

The company has a current ratio of 4.24, a quick ratio of 4.24 and a debt-to-equity ratio of 4.74. The company has a market cap of $604.83 million, a price-to-earnings ratio of -11.02 and a beta of 2.50. The firm’s fifty day simple moving average is $7.48 and its 200 day simple moving average is $6.35.

Industrial Logistics Properties Trust (NASDAQ:ILPT) last announced its quarterly earnings data on Wednesday, April 29th. The company reported ($0.14) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.20) by $0.06. The business had revenue of $116.42 million for the quarter, compared to analyst estimates of $114.82 million. Industrial Logistics Properties Trust had a negative net margin of 11.93% and a negative return on equity of 5.93%. Sell-side analysts predict that Industrial Logistics Properties Trust will post 1.34 earnings per share for the current year.

Industrial Logistics Properties Trust Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 14th. Investors of record on Tuesday, April 21st were issued a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 2.2%. The ex-dividend date of this dividend was Tuesday, April 21st. Industrial Logistics Properties Trust’s dividend payout ratio is -24.39%.

Institutional Trading of Industrial Logistics Properties Trust

A number of institutional investors have recently bought and sold shares of the business. Quarry LP purchased a new position in shares of Industrial Logistics Properties Trust in the 3rd quarter valued at about $28,000. Advisory Services Network LLC purchased a new stake in Industrial Logistics Properties Trust during the third quarter worth approximately $34,000. Royal Bank of Canada boosted its holdings in Industrial Logistics Properties Trust by 387.2% in the fourth quarter. Royal Bank of Canada now owns 6,573 shares of the company’s stock valued at $36,000 after purchasing an additional 5,224 shares in the last quarter. Strs Ohio purchased a new position in Industrial Logistics Properties Trust in the first quarter valued at approximately $42,000. Finally, Retirement Planning Co of New England Inc. acquired a new stake in Industrial Logistics Properties Trust during the fourth quarter worth approximately $56,000. 49.08% of the stock is owned by hedge funds and other institutional investors.

About Industrial Logistics Properties Trust

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.