Industrial Logistics Properties Trust (NASDAQ:ILPT) Stock Gets Price Target Cut from B. Riley Financial

Industrial Logistics Properties Trust (NASDAQ:ILPT) had its price objective reduced by B. Riley Financial from $11.00 to $10.00 in a report published on Monday morning,Benzinga reports. They currently have a buy rating on the stock.

Other research analysts have also issued research reports about the company. Loop Capital set a $11.50 price objective on Industrial Logistics Properties Trust in a research report 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. Zacks Research cut Industrial Logistics Properties Trust from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, October 28th. Finally, Weiss Ratings reiterated a “sell (d)” rating on shares of Industrial Logistics Properties Trust in a research note on Wednesday, October 28th. Two research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $10.50.

Industrial Logistics Properties Trust Price Performance

ILPT opened at $6.45 on Monday. The firm has a market cap of $431.69 million, a price-to-earnings ratio of 5.15 and a beta of 2.55. Industrial Logistics Properties Trust has a fifty-two week low of $5.01 and a fifty-two week high of $9.43. The company’s 50-day moving average price is $7.39 and its 200 day moving average price is $7.37. The company has a quick ratio of 3.78, a current ratio of 3.78 and a debt-to-equity ratio of 5.27.

Industrial Logistics Properties Trust (NASDAQ:ILPT) last issued its earnings results on Wednesday, October 28th. The company reported ($0.46) EPS for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.32). The company had revenue of $116.81 million during the quarter, compared to analyst estimates of $117.48 million. Industrial Logistics Properties Trust had a negative net margin of 12.12% and a negative return on equity of 6.54%. As a group, sell-side analysts expect that Industrial Logistics Properties Trust will post 1.26 earnings per share for the current year.

Industrial Logistics Properties Trust Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 12th. Shareholders of record on Monday, October 19th will be paid a dividend of $0.10 per share. The ex-dividend date of this dividend is Monday, October 19th. This represents a $0.40 annualized dividend and a yield of 6.2%. Industrial Logistics Properties Trust’s payout ratio is presently -47.06%.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the business. Renaissance Technologies LLC raised its position in shares of Industrial Logistics Properties Trust by 59.8% during the 1st quarter. Renaissance Technologies LLC now owns 458,989 shares of the company’s stock worth $2,607,000 after buying an additional 171,689 shares in the last quarter. Bank of New York Mellon Corp acquired a new stake in Industrial Logistics Properties Trust in the second quarter worth approximately $1,758,000. Allspring Global Investments Holdings LLC lifted its position in Industrial Logistics Properties Trust by 89.7% in the third quarter. Allspring Global Investments Holdings LLC now owns 181,519 shares of the company’s stock worth $1,265,000 after purchasing an additional 85,808 shares during the period. Arrowstreet Capital Limited Partnership bought a new position in Industrial Logistics Properties Trust during the 1st quarter valued at $1,243,000. Finally, D.A. Davidson & CO. boosted its stake in Industrial Logistics Properties Trust by 3.7% during the 3rd quarter. D.A. Davidson & CO. now owns 141,687 shares of the company’s stock valued at $1,006,000 after purchasing an additional 5,087 shares in the last quarter. Institutional investors and hedge funds 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 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.