Resona Asset Management Co. Ltd. Increases Position in Industrial Logistics Properties Trust $ILPT

Resona Asset Management Co. Ltd. increased its holdings in Industrial Logistics Properties Trust (NASDAQ:ILPT) by 14.7% in the first quarter, HoldingsChannel.com reports. The firm owned 25,558 shares of the company’s stock after buying an additional 3,280 shares during the quarter. Resona Asset Management Co. Ltd.’s holdings in Industrial Logistics Properties Trust were worth $89,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Nuveen LLC acquired a new stake in Industrial Logistics Properties Trust in the first quarter valued at approximately $462,000. New Age Alpha Advisors LLC purchased a new position in shares of Industrial Logistics Properties Trust during the 1st quarter valued at approximately $34,000. Single Point Partners LLC acquired a new stake in Industrial Logistics Properties Trust in the 1st quarter valued at $36,000. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in Industrial Logistics Properties Trust in the 4th quarter worth $560,000. Finally, DigitalBridge Group Inc. increased its holdings in Industrial Logistics Properties Trust by 20.0% in the 4th quarter. DigitalBridge Group Inc. now owns 456,225 shares of the company’s stock worth $1,665,000 after acquiring an additional 76,000 shares in the last quarter. Hedge funds and other institutional investors own 49.08% of the company’s stock.

Industrial Logistics Properties Trust Trading Down 1.7%

Shares of Industrial Logistics Properties Trust stock opened at $5.79 on Monday. The company has a current ratio of 4.13, a quick ratio of 4.13 and a debt-to-equity ratio of 4.43. Industrial Logistics Properties Trust has a twelve month low of $2.45 and a twelve month high of $6.23. The firm has a market capitalization of $384.11 million, a PE ratio of -4.14 and a beta of 2.33. The firm’s 50-day moving average price is $5.04 and its 200 day moving average price is $3.94.

Industrial Logistics Properties Trust Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, August 14th. Stockholders of record on Monday, July 21st were paid a $0.05 dividend. This is a boost from Industrial Logistics Properties Trust’s previous quarterly dividend of $0.01. This represents a $0.20 dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date of this dividend was Monday, July 21st. Industrial Logistics Properties Trust’s dividend payout ratio is presently -14.29%.

Insider Activity at Industrial Logistics Properties Trust

In other news, Director Joseph Morea acquired 20,000 shares of the firm’s stock in a transaction on Friday, May 30th. The shares were bought at an average price of $3.31 per share, for a total transaction of $66,200.00. Following the acquisition, the director owned 112,191 shares of the company’s stock, valued at approximately $371,352.21. This trade represents a 21.69% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Kevin C. Phelan bought 5,000 shares of the stock in a transaction on Thursday, July 31st. The shares were acquired at an average cost of $5.43 per share, for a total transaction of $27,150.00. Following the purchase, the director owned 15,500 shares in the company, valued at $84,165. The trade was a 47.62% increase in their ownership of the stock. The disclosure for this purchase can be found here. 1.80% of the stock is currently owned by insiders.

Analyst Ratings Changes

Separately, B. Riley initiated coverage on shares of Industrial Logistics Properties Trust in a research report on Friday, May 9th. They issued a “buy” rating and a $5.00 target price on the stock.

About Industrial Logistics Properties Trust

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.