State of Alaska Department of Revenue Reduces Stock Holdings in Industrial Logistics Properties Trust $ILPT

State of Alaska Department of Revenue cut its position in shares of Industrial Logistics Properties Trust (NASDAQ:ILPT) by 18.2% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 25,675 shares of the company’s stock after selling 5,712 shares during the period. State of Alaska Department of Revenue’s holdings in Industrial Logistics Properties Trust were worth $116,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Strs Ohio acquired a new position in Industrial Logistics Properties Trust during the first quarter worth $42,000. Nantahala Capital Management LLC raised its position in Industrial Logistics Properties Trust by 18.9% during the first quarter. Nantahala Capital Management LLC now owns 2,506,244 shares of the company’s stock worth $8,621,000 after acquiring an additional 398,351 shares during the period. Cubist Systematic Strategies LLC acquired a new position in Industrial Logistics Properties Trust during the first quarter worth $279,000. MetLife Investment Management LLC raised its position in Industrial Logistics Properties Trust by 34.6% during the first quarter. MetLife Investment Management LLC now owns 33,580 shares of the company’s stock worth $116,000 after acquiring an additional 8,632 shares during the period. Finally, Russell Investments Group Ltd. raised its position in Industrial Logistics Properties Trust by 7,332.3% during the first quarter. Russell Investments Group Ltd. now owns 853,230 shares of the company’s stock worth $2,935,000 after acquiring an additional 841,750 shares during the period. 49.08% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Industrial Logistics Properties Trust

In other Industrial Logistics Properties Trust news, Director Kevin C. Phelan bought 5,000 shares of the business’s stock in a transaction dated Thursday, July 31st. The shares were acquired at an average cost of $5.43 per share, with a total value of $27,150.00. Following the acquisition, the director directly owned 15,500 shares of the company’s stock, valued at $84,165. The trade was a 47.62% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. 1.80% of the stock is owned by insiders.

Industrial Logistics Properties Trust Trading Down 3.5%

NASDAQ ILPT opened at $5.23 on Friday. The firm has a 50 day simple moving average of $5.94 and a 200-day simple moving average of $4.54. The firm has a market cap of $346.96 million, a price-to-earnings ratio of -3.74 and a beta of 2.43. Industrial Logistics Properties Trust has a one year low of $2.45 and a one year high of $6.57. The company has a debt-to-equity ratio of 4.43, a quick ratio of 4.13 and a current ratio of 4.13.

Industrial Logistics Properties Trust Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 13th. Stockholders of record on Monday, October 27th will be issued a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 3.8%. The ex-dividend date of this dividend is Monday, October 27th. Industrial Logistics Properties Trust’s payout ratio is presently -14.29%.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on ILPT. Zacks Research raised shares of Industrial Logistics Properties Trust from a “strong sell” rating to a “hold” rating in a report on Friday, October 3rd. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Industrial Logistics Properties Trust in a report on Wednesday. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $5.00.

Industrial Logistics Properties Trust Company Profile

Industrial Logistics Properties Trust (Nasdaq: ILPT) is a real estate investment trust, or REIT, focused on owning and leasing high quality distribution and logistics properties. As of December 31, 2023, ILPT's portfolio consisted of 411 properties containing approximately 60 million rentable square feet located in 39 states.