Industrial Logistics Properties Trust (NASDAQ:ILPT) Given New $12.00 Price Target at Royal Bank of Canada

Industrial Logistics Properties Trust (NASDAQ:ILPT – Get Rating) had its price objective reduced by research analysts at Royal Bank of Canada from $20.00 to $12.00 in a report issued on Monday, The Fly reports. Royal Bank of Canada’s price objective would indicate a potential upside of 25.13% from the stock’s current price.

A number of other equities research analysts have also issued reports on the stock. JMP Securities lowered shares of Industrial Logistics Properties Trust from an “outperform” rating to a “market perform” rating in a report on Wednesday, May 18th. B. Riley reduced their price objective on shares of Industrial Logistics Properties Trust from $30.00 to $28.00 in a report on Friday, April 29th.

Industrial Logistics Properties Trust Price Performance

Industrial Logistics Properties Trust stock opened at $9.59 on Monday. The firm has a market cap of $627.22 million, a PE ratio of 6.66 and a beta of 1.21. Industrial Logistics Properties Trust has a 52-week low of $9.37 and a 52-week high of $28.66. The company has a quick ratio of 7.24, a current ratio of 7.24 and a debt-to-equity ratio of 2.74. The company’s 50 day moving average is $13.49 and its two-hundred day moving average is $18.46.

Institutional Investors Weigh In On Industrial Logistics Properties Trust

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Mitsubishi UFJ Trust & Banking Corp raised its stake in Industrial Logistics Properties Trust by 196.0% during the 4th quarter. Mitsubishi UFJ Trust & Banking Corp now owns 1,551 shares of the company’s stock worth $39,000 after acquiring an additional 1,027 shares in the last quarter. Total Clarity Wealth Management Inc. raised its stake in Industrial Logistics Properties Trust by 68.1% during the 4th quarter. Total Clarity Wealth Management Inc. now owns 1,701 shares of the company’s stock worth $43,000 after acquiring an additional 689 shares in the last quarter. Point72 Hong Kong Ltd raised its stake in Industrial Logistics Properties Trust by 198.9% during the 1st quarter. Point72 Hong Kong Ltd now owns 2,107 shares of the company’s stock worth $48,000 after acquiring an additional 1,402 shares in the last quarter. Retirement Planning Co of New England Inc. acquired a new stake in Industrial Logistics Properties Trust during the 4th quarter worth $74,000. Finally, ACG Wealth acquired a new stake in Industrial Logistics Properties Trust during the 2nd quarter worth $45,000. 85.16% of the stock is currently owned by institutional investors and hedge funds.

About Industrial Logistics Properties Trust

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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.