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

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

A number of other equities analysts have also weighed in on ILPT. B. Riley Financial restated a “buy” rating on shares of Industrial Logistics Properties Trust in a research report on Thursday, April 23rd. Weiss Ratings lowered shares of Industrial Logistics Properties Trust from a “sell (d)” rating to a “sell (d-)” rating in a research note on Thursday, May 28th. Loop Capital set a $11.50 target price on shares of Industrial Logistics Properties Trust in a research note on Wednesday. Finally, Wall Street Zen upgraded Industrial Logistics Properties Trust from a “hold” rating to a “buy” rating in a report on Saturday, May 23rd. One analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $11.50.

Industrial Logistics Properties Trust Trading Up 0.1%

Shares of ILPT stock opened at $9.20 on Wednesday. Industrial Logistics Properties Trust has a fifty-two week low of $4.92 and a fifty-two week high of $9.43. The company has a debt-to-equity ratio of 4.74, a quick ratio of 4.24 and a current ratio of 4.24. The stock’s fifty day moving average is $8.77 and its two-hundred day moving average is $7.05. The firm has a market capitalization of $613.36 million, a P/E ratio of -11.22 and a beta of 2.50.

Industrial Logistics Properties Trust (NASDAQ:ILPT) last released its earnings results on Wednesday, April 29th. The company reported ($0.14) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.20) by $0.06. The business had revenue of $116.42 million during the quarter, compared to analyst estimates of $114.82 million. Industrial Logistics Properties Trust had a negative net margin of 11.93% and a negative return on equity of 5.93%. Research analysts expect that Industrial Logistics Properties Trust will post 1.34 earnings per share for the current fiscal year.

Industrial Logistics Properties Trust Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 13th. Stockholders of record on Monday, July 20th will be given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 4.3%. The ex-dividend date of this dividend is Monday, July 20th. This is a positive change from Industrial Logistics Properties Trust’s previous quarterly dividend of $0.05. Industrial Logistics Properties Trust’s dividend payout ratio is presently -48.78%.

Institutional Investors Weigh In On Industrial Logistics Properties Trust

Hedge funds and other institutional investors have recently bought and sold shares of the company. Empowered Funds LLC purchased a new position in Industrial Logistics Properties Trust during the first quarter worth about $265,000. Bank of America Corp DE grew its stake in shares of Industrial Logistics Properties Trust by 23.6% in the 1st quarter. Bank of America Corp DE now owns 51,792 shares of the company’s stock valued at $294,000 after buying an additional 9,898 shares during the period. Royal Bank of Canada increased its holdings in shares of Industrial Logistics Properties Trust by 72.8% during the 1st quarter. Royal Bank of Canada now owns 11,361 shares of the company’s stock worth $64,000 after buying an additional 4,788 shares during the last quarter. Quantinno Capital Management LP increased its holdings in shares of Industrial Logistics Properties Trust by 40.2% during the 1st quarter. Quantinno Capital Management LP now owns 54,557 shares of the company’s stock worth $310,000 after buying an additional 15,637 shares during the last quarter. Finally, Renaissance Technologies LLC increased its holdings in shares of Industrial Logistics Properties Trust by 59.8% during the 1st quarter. Renaissance Technologies LLC now owns 458,989 shares of the company’s stock worth $2,607,000 after buying an additional 171,689 shares during the last quarter. 49.08% of the stock is currently owned by institutional investors and hedge funds.

About Industrial Logistics Properties Trust

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.