Single Point Partners LLC Makes New Investment in Industrial Logistics Properties Trust (NASDAQ:ILPT)

Single Point Partners LLC acquired a new stake in shares of Industrial Logistics Properties Trust (NASDAQ:ILPT) in the 1st quarter, HoldingsChannel reports. The fund acquired 10,500 shares of the company’s stock, valued at approximately $36,000.

A number of other institutional investors also recently modified their holdings of the company. JPMorgan Chase & Co. boosted its holdings in Industrial Logistics Properties Trust by 1.2% in the fourth quarter. JPMorgan Chase & Co. now owns 228,653 shares of the company’s stock valued at $835,000 after acquiring an additional 2,715 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in shares of Industrial Logistics Properties Trust by 15.3% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 24,124 shares of the company’s stock worth $89,000 after purchasing an additional 3,199 shares during the period. Pinebridge Investments L.P. boosted its stake in shares of Industrial Logistics Properties Trust by 4.3% during the 4th quarter. Pinebridge Investments L.P. now owns 116,354 shares of the company’s stock valued at $425,000 after purchasing an additional 4,813 shares in the last quarter. ProShare Advisors LLC boosted its stake in shares of Industrial Logistics Properties Trust by 49.0% during the 4th quarter. ProShare Advisors LLC now owns 18,388 shares of the company’s stock valued at $67,000 after purchasing an additional 6,051 shares in the last quarter. Finally, Wells Fargo & Company MN increased its position in shares of Industrial Logistics Properties Trust by 27.6% during the fourth quarter. Wells Fargo & Company MN now owns 38,530 shares of the company’s stock valued at $141,000 after buying an additional 8,329 shares during the period. 49.08% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Separately, B. Riley started coverage on shares of Industrial Logistics Properties Trust in a report on Friday, May 9th. They issued a “buy” rating and a $5.00 price objective for the company.

Industrial Logistics Properties Trust Price Performance

Shares of ILPT stock opened at $3.29 on Monday. The business’s fifty day moving average is $3.00 and its 200 day moving average is $3.45. The company has a quick ratio of 4.53, a current ratio of 4.84 and a debt-to-equity ratio of 4.26. The stock has a market cap of $217.61 million, a price-to-earnings ratio of -2.25 and a beta of 2.22. Industrial Logistics Properties Trust has a twelve month low of $2.45 and a twelve month high of $5.45.

Industrial Logistics Properties Trust (NASDAQ:ILPT) last released its earnings results on Tuesday, April 29th. The company reported $0.20 earnings per share for the quarter. The firm had revenue of $111.91 million for the quarter. Industrial Logistics Properties Trust had a negative net margin of 21.63% and a negative return on equity of 8.98%.

Industrial Logistics Properties Trust Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Tuesday, April 22nd were issued a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a yield of 1.22%. The ex-dividend date was Tuesday, April 22nd. Industrial Logistics Properties Trust’s dividend payout ratio (DPR) is presently -2.80%.

Insiders Place Their Bets

In related news, Director Joseph Morea bought 20,000 shares of the business’s stock in a transaction dated Friday, May 30th. The shares were purchased at an average cost of $3.31 per share, with a total value of $66,200.00. Following the completion of the purchase, the director now owns 112,191 shares in the company, valued at approximately $371,352.21. The trade was a 21.69% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 1.80% of the company’s stock.

Industrial Logistics Properties Trust 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.