Industrial Logistics Properties Trust (NASDAQ:ILPT) Shares Up 5.3% on Analyst Upgrade

Industrial Logistics Properties Trust (NASDAQ:ILPT)’s stock price was up 5.3% on Tuesday after Zacks Research upgraded the stock from a hold rating to a strong-buy rating. The stock traded as high as $8.42 and last traded at $8.5260. 7,916 shares were traded during trading, a decline of 98% from the average daily volume of 392,091 shares. The stock had previously closed at $8.10.

Several other research analysts have also recently weighed in on ILPT. Weiss Ratings cut Industrial Logistics Properties Trust from a “sell (d)” rating to a “sell (d-)” rating in a research report on Thursday, May 28th. Wall Street Zen upgraded shares of Industrial Logistics Properties Trust from a “hold” rating to a “buy” rating in a research note on Saturday, May 23rd. B. Riley Financial reaffirmed a “buy” rating on shares of Industrial Logistics Properties Trust in a research report on Thursday, April 23rd. Finally, Loop Capital set a $7.40 price objective on shares of Industrial Logistics Properties Trust in a research note on Tuesday, March 3rd. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has given a Sell rating to the stock. According to MarketBeat, Industrial Logistics Properties Trust has a consensus rating of “Moderate Buy” and an average target price of $7.40.

Institutional Trading of Industrial Logistics Properties Trust

Several large investors have recently modified their holdings of the stock. Empowered Funds LLC bought a new stake in Industrial Logistics Properties Trust during the first quarter worth about $265,000. Bank of America Corp DE raised its position 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 in the last quarter. Royal Bank of Canada lifted 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 acquiring an additional 4,788 shares during the period. Quantinno Capital Management LP lifted 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 acquiring an additional 15,637 shares during the period. Finally, Renaissance Technologies LLC boosted its position 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 acquiring an additional 171,689 shares in the last quarter. 49.08% of the stock is owned by institutional investors and hedge funds.

Industrial Logistics Properties Trust Price Performance

The company’s 50-day moving average is $8.02 and its 200-day moving average is $6.54. The firm has a market cap of $580.03 million, a price-to-earnings ratio of -10.61 and a beta of 2.50. The company has a current ratio of 4.24, a quick ratio of 4.24 and a debt-to-equity ratio of 4.74.

Industrial Logistics Properties Trust (NASDAQ:ILPT) last announced its quarterly earnings data on Wednesday, April 29th. The company reported ($0.14) EPS for the quarter, beating the consensus estimate of ($0.20) by $0.06. The business had revenue of $116.42 million during the quarter, compared to the consensus estimate 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%. Equities research analysts predict that Industrial Logistics Properties Trust will post 1.34 earnings per share for the current year.

Industrial Logistics Properties Trust Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 14th. Investors of record on Tuesday, April 21st were given a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 2.3%. The ex-dividend date was Tuesday, April 21st. Industrial Logistics Properties Trust’s dividend payout ratio is currently -24.39%.

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.