Union Square Park Capital Management LLC Sells 325,000 Shares of Industrial Logistics Properties Trust $ILPT

Union Square Park Capital Management LLC lowered its holdings in shares of Industrial Logistics Properties Trust (NASDAQ:ILPT) by 25.5% during the third quarter, HoldingsChannel reports. The firm owned 950,000 shares of the company’s stock after selling 325,000 shares during the quarter. Industrial Logistics Properties Trust comprises 2.0% of Union Square Park Capital Management LLC’s holdings, making the stock its 10th largest holding. Union Square Park Capital Management LLC’s holdings in Industrial Logistics Properties Trust were worth $5,538,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the stock. Register Financial Advisors LLC lifted its holdings in shares of Industrial Logistics Properties Trust by 4.2% in the third quarter. Register Financial Advisors LLC now owns 49,509 shares of the company’s stock valued at $289,000 after purchasing an additional 2,012 shares in the last quarter. Resona Asset Management Co. Ltd. boosted its stake in shares of Industrial Logistics Properties Trust by 17.8% during the 3rd quarter. Resona Asset Management Co. Ltd. now owns 26,262 shares of the company’s stock worth $155,000 after buying an additional 3,964 shares during the last quarter. PNC Financial Services Group Inc. grew its holdings in shares of Industrial Logistics Properties Trust by 125.7% in the 2nd quarter. PNC Financial Services Group Inc. now owns 7,881 shares of the company’s stock valued at $36,000 after acquiring an additional 4,389 shares in the last quarter. Single Point Partners LLC grew its stake in Industrial Logistics Properties Trust by 47.6% in the third quarter. Single Point Partners LLC now owns 15,500 shares of the company’s stock valued at $90,000 after purchasing an additional 5,000 shares in the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in Industrial Logistics Properties Trust by 18.5% during the third quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 44,602 shares of the company’s stock worth $260,000 after buying an additional 6,950 shares during the last quarter. 49.08% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

ILPT has been the topic of several research analyst reports. Zacks Research lowered Industrial Logistics Properties Trust from a “strong-buy” rating to a “hold” rating in a research note on Thursday, January 29th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Industrial Logistics Properties Trust in a research report on Wednesday, January 28th. Finally, Loop Capital set a $7.40 target price on Industrial Logistics Properties Trust in a research note on Tuesday, March 3rd. One research analyst has rated the stock with a Strong Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $6.20.

Industrial Logistics Properties Trust Trading Down 0.7%

Shares of NASDAQ:ILPT opened at $6.06 on Friday. The business’s 50 day simple moving average is $5.79 and its 200 day simple moving average is $5.73. Industrial Logistics Properties Trust has a 1 year low of $2.45 and a 1 year high of $6.68. The company has a debt-to-equity ratio of 4.66, a current ratio of 4.29 and a quick ratio of 4.29. The company has a market capitalization of $403.90 million, a P/E ratio of -6.00 and a beta of 2.46.

Industrial Logistics Properties Trust (NASDAQ:ILPT) last released its earnings results on Wednesday, February 18th. The company reported ($0.03) earnings per share for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.31). The company had revenue of $113.91 million for the quarter, compared to the consensus estimate of $111.73 million. Industrial Logistics Properties Trust had a negative net margin of 14.75% and a negative return on equity of 7.08%.

Industrial Logistics Properties Trust Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, February 19th. Shareholders of record on Monday, January 26th were paid a dividend of $0.05 per share. The ex-dividend date was Monday, January 26th. This represents a $0.20 annualized dividend and a yield of 3.3%. Industrial Logistics Properties Trust’s dividend payout ratio is presently -19.80%.

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.