Industrial Logistics Properties Trust (NASDAQ:ILPT) Shares Up 5.3% – Here’s What Happened

Industrial Logistics Properties Trust (NASDAQ:ILPT)’s share price was up 5.3% during trading on Tuesday . The stock traded as high as $8.42 and last traded at $8.5260. 7,916 shares changed hands during trading, a decline of 98% from the average session volume of 392,091 shares. The stock had previously closed at $8.10.

Wall Street Analyst Weigh In

ILPT has been the subject of a number of research reports. Weiss Ratings lowered shares of Industrial Logistics Properties Trust from a “sell (d)” rating to a “sell (d-)” rating in a research note on Thursday, May 28th. B. Riley Financial reissued a “buy” rating on shares of Industrial Logistics Properties Trust in a research report on Thursday, April 23rd. Zacks Research lowered shares of Industrial Logistics Properties Trust from a “strong-buy” rating to a “hold” rating in a report on Friday, May 1st. Wall Street Zen raised shares of Industrial Logistics Properties Trust from a “hold” rating to a “buy” rating in a research report on Saturday, May 23rd. Finally, Loop Capital set a $7.40 price objective on shares of Industrial Logistics Properties Trust in a research note on Tuesday, March 3rd. One analyst has rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $7.40.

Industrial Logistics Properties Trust Stock Performance

The business’s 50-day moving average price is $7.90 and its 200-day moving average price is $6.50. 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 stock has a market cap of $574.32 million, a PE ratio of -10.51 and a beta of 2.50.

Industrial Logistics Properties Trust (NASDAQ:ILPT) last posted its quarterly earnings data on Wednesday, April 29th. The company reported ($0.14) EPS for the quarter, topping the consensus estimate of ($0.20) by $0.06. The firm had revenue of $116.42 million during 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%. As a group, equities research analysts expect that Industrial Logistics Properties Trust will post 1.34 earnings per share for the current fiscal year.

Industrial Logistics Properties Trust Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 14th. Stockholders of record on Tuesday, April 21st were issued a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 2.3%. The ex-dividend date was Tuesday, April 21st. Industrial Logistics Properties Trust’s dividend payout ratio is currently -24.39%.

Institutional Trading of Industrial Logistics Properties Trust

A number of institutional investors have recently made changes to their positions in ILPT. State of Wyoming grew its stake in Industrial Logistics Properties Trust by 17.9% during the 1st quarter. State of Wyoming now owns 14,469 shares of the company’s stock worth $82,000 after buying an additional 2,194 shares during the last quarter. Deutsche Bank AG raised its stake in Industrial Logistics Properties Trust by 3.0% in the fourth quarter. Deutsche Bank AG now owns 85,843 shares of the company’s stock valued at $476,000 after buying an additional 2,496 shares during the last quarter. Jain Global LLC raised its stake in Industrial Logistics Properties Trust by 17.3% in the third quarter. Jain Global LLC now owns 16,975 shares of the company’s stock valued at $99,000 after buying an additional 2,500 shares during the last quarter. Verition Fund Management LLC raised its stake in Industrial Logistics Properties Trust by 5.6% in the third quarter. Verition Fund Management LLC now owns 53,861 shares of the company’s stock valued at $314,000 after buying an additional 2,845 shares during the last quarter. Finally, Hillsdale Investment Management Inc. boosted its holdings in Industrial Logistics Properties Trust by 4.7% in the first quarter. Hillsdale Investment Management Inc. now owns 66,300 shares of the company’s stock worth $377,000 after acquiring an additional 3,000 shares in the last quarter. Institutional investors and hedge funds own 49.08% of the company’s stock.

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.