Zacks Investment Research Lowers Industrial Logistics Properties Trust (NASDAQ:ILPT) to Hold

Industrial Logistics Properties Trust (NASDAQ:ILPT) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Wednesday, Zacks.com reports.

According to Zacks, “Industrial Logistics Properties Trust is focused on the ownership and leasing of industrial and logistics properties primarily in the United States. The Company’s properties include Hawaii properties, Mainland properties’ leases, Hawaii properties’ leases and Mainland properties. Industrial Logistics Properties Trust is based in NEWTON, United States. “

Several other research firms also recently issued reports on ILPT. BTIG Research assumed coverage on shares of Industrial Logistics Properties Trust in a research note on Monday, April 26th. They set a “neutral” rating for the company. Royal Bank of Canada boosted their price objective on shares of Industrial Logistics Properties Trust from $22.00 to $26.00 and gave the stock a “sector perform” rating in a research note on Tuesday, June 22nd. They noted that the move was a valuation call. Finally, B. Riley boosted their price objective on shares of Industrial Logistics Properties Trust from $29.00 to $32.00 and gave the stock a “buy” rating in a research note on Tuesday, June 15th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $27.00.

ILPT traded up $0.03 during trading on Wednesday, hitting $27.39. 245,788 shares of the company’s stock were exchanged, compared to its average volume of 286,117. The company has a current ratio of 6.56, a quick ratio of 6.56 and a debt-to-equity ratio of 0.86. Industrial Logistics Properties Trust has a 1 year low of $18.76 and a 1 year high of $27.71. The stock’s 50 day moving average is $25.95. The stock has a market capitalization of $1.79 billion, a price-to-earnings ratio of 19.99, a P/E/G ratio of 6.25 and a beta of 1.00.

Industrial Logistics Properties Trust (NASDAQ:ILPT) last released its quarterly earnings data on Sunday, April 25th. The company reported $0.30 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.45 by ($0.15). Industrial Logistics Properties Trust had a return on equity of 8.50% and a net margin of 36.22%. Sell-side analysts forecast that Industrial Logistics Properties Trust will post 1.88 earnings per share for the current year.

Hedge funds have recently made changes to their positions in the company. The Manufacturers Life Insurance Company boosted its stake in shares of Industrial Logistics Properties Trust by 4.2% in the fourth quarter. The Manufacturers Life Insurance Company now owns 38,419 shares of the company’s stock valued at $895,000 after purchasing an additional 1,553 shares during the period. UBS Group AG boosted its stake in shares of Industrial Logistics Properties Trust by 15.4% in the first quarter. UBS Group AG now owns 114,690 shares of the company’s stock valued at $2,652,000 after purchasing an additional 15,329 shares during the period. Pacer Advisors Inc. boosted its stake in shares of Industrial Logistics Properties Trust by 27.5% in the first quarter. Pacer Advisors Inc. now owns 347,201 shares of the company’s stock valued at $8,031,000 after purchasing an additional 74,928 shares during the period. Public Employees Retirement System of Ohio boosted its stake in shares of Industrial Logistics Properties Trust by 15.0% in the first quarter. Public Employees Retirement System of Ohio now owns 75,346 shares of the company’s stock valued at $1,743,000 after purchasing an additional 9,837 shares during the period. Finally, Bank of Montreal Can boosted its stake in Industrial Logistics Properties Trust by 3.9% during the 1st quarter. Bank of Montreal Can now owns 29,503 shares of the company’s stock valued at $705,000 after acquiring an additional 1,116 shares during the last quarter. Institutional investors and hedge funds own 85.85% of the company’s stock.

About Industrial Logistics Properties Trust

ILPT is a real estate investment trust, or REIT, that owns and leases industrial and logistics properties throughout the United States. ILPT is managed by the operating subsidiary of The RMR Group Inc (Nasdaq: RMR), an alternative asset management company that is headquartered in Newton, MA.

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