Industrial Logistics Properties Trust (NASDAQ:ILPT) Cut to Hold at Zacks Research

Zacks Research lowered shares of Industrial Logistics Properties Trust (NASDAQ:ILPT) from a strong-buy rating to a hold rating in a report published on Thursday morning,Zacks.com reports.

Separately, Weiss Ratings reiterated a “sell (d)” rating on shares of Industrial Logistics Properties Trust in a report on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Industrial Logistics Properties Trust presently has an average rating of “Hold” and an average target price of $5.00.

Industrial Logistics Properties Trust Stock Down 0.4%

ILPT opened at $5.33 on Thursday. The firm has a market cap of $355.30 million, a P/E ratio of -3.95 and a beta of 2.48. The business’s fifty day simple moving average is $5.64 and its 200 day simple moving average is $5.70. Industrial Logistics Properties Trust has a 52 week low of $2.45 and a 52 week high of $6.57. The company has a quick ratio of 3.53, a current ratio of 3.53 and a debt-to-equity ratio of 4.59.

Industrial Logistics Properties Trust Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, February 19th. Stockholders of record on Monday, January 26th will be paid a dividend of $0.05 per share. The ex-dividend date of this dividend is Monday, January 26th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 3.8%. Industrial Logistics Properties Trust’s dividend payout ratio is currently -14.81%.

Institutional Trading of Industrial Logistics Properties Trust

Institutional investors and hedge funds have recently made changes to their positions in the company. Register Financial Advisors LLC boosted its holdings in 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 acquiring an additional 2,012 shares during the last quarter. Jain Global LLC lifted its stake in shares of Industrial Logistics Properties Trust by 17.3% in the 3rd quarter. Jain Global LLC now owns 16,975 shares of the company’s stock valued at $99,000 after purchasing an additional 2,500 shares in the last quarter. Verition Fund Management LLC grew its holdings in shares of Industrial Logistics Properties Trust by 5.6% during the 3rd quarter. Verition Fund Management LLC now owns 53,861 shares of the company’s stock worth $314,000 after purchasing an additional 2,845 shares during the period. Resona Asset Management Co. Ltd. increased its position in 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 purchasing an additional 3,964 shares in the last quarter. Finally, PNC Financial Services Group Inc. raised its holdings in Industrial Logistics Properties Trust by 125.7% in the second quarter. PNC Financial Services Group Inc. now owns 7,881 shares of the company’s stock valued at $36,000 after buying an additional 4,389 shares during the period. 49.08% of the stock is currently owned by institutional investors and hedge funds.

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.