Industrial Logistics Properties Trust (NASDAQ:ILPT) Director Acquires 2,000 Shares of Stock

Industrial Logistics Properties Trust (NASDAQ:ILPT) Director Kevin Phelan bought 2,000 shares of the firm’s stock in a transaction that occurred on Monday, November 9th. The shares were purchased at an average cost of $6.01 per share, for a total transaction of $12,020.00. Following the completion of the transaction, the director owned 9,500 shares of the company’s stock, valued at $57,095. This represents a 26.67% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Industrial Logistics Properties Trust Stock Performance

ILPT traded down $0.23 on Thursday, hitting $6.06. 393,219 shares of the stock traded hands, compared to its average volume of 404,279. Industrial Logistics Properties Trust has a 52 week low of $5.01 and a 52 week high of $9.43. The company has a current ratio of 3.78, a quick ratio of 3.78 and a debt-to-equity ratio of 5.27. The firm has a market capitalization of $405.90 million, a PE ratio of -7.13 and a beta of 2.55. The business has a fifty day moving average price of $7.17 and a two-hundred day moving average price of $7.37.

Industrial Logistics Properties Trust (NASDAQ:ILPT) last announced its quarterly earnings data on Wednesday, October 28th. The company reported ($0.46) EPS for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.32). Industrial Logistics Properties Trust had a negative return on equity of 6.54% and a negative net margin of 12.12%. The firm had revenue of $116.81 million during the quarter, compared to the consensus estimate of $117.48 million. On average, research analysts predict that Industrial Logistics Properties Trust will post 1.26 EPS for the current fiscal year.

Industrial Logistics Properties Trust Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 12th. Investors of record on Monday, October 19th will be given a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 6.6%. The ex-dividend date of this dividend is Monday, October 19th. Industrial Logistics Properties Trust’s dividend payout ratio (DPR) is -47.06%.

Hedge Funds Weigh In On Industrial Logistics Properties Trust

Hedge funds have recently modified their holdings of the stock. SteelPeak Wealth LLC bought a new position in shares of Industrial Logistics Properties Trust during the 1st quarter worth approximately $57,000. Royal Bank of Canada grew its position in Industrial Logistics Properties Trust by 72.8% in the first quarter. Royal Bank of Canada now owns 11,361 shares of the company’s stock valued at $64,000 after acquiring an additional 4,788 shares during the period. State of Wyoming grew its position in Industrial Logistics Properties Trust by 17.9% in the first quarter. State of Wyoming now owns 14,469 shares of the company’s stock valued at $82,000 after acquiring an additional 2,194 shares during the period. Ieq Capital LLC bought a new stake in Industrial Logistics Properties Trust in the third quarter valued at $230,000. Finally, Empowered Funds LLC acquired a new position in Industrial Logistics Properties Trust during the first quarter worth $265,000. 49.08% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have weighed in on ILPT shares. Loop Capital set a $11.50 price target on shares of Industrial Logistics Properties Trust in a research note on Wednesday, July 22nd. Zacks Research cut shares of Industrial Logistics Properties Trust from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, October 28th. Freedom Broker reduced their price objective on shares of Industrial Logistics Properties Trust from $11.00 to $10.00 and set a “buy” rating for the company in a report on Tuesday, November 3rd. Weiss Ratings reiterated a “sell (d)” rating on shares of Industrial Logistics Properties Trust in a research report on Wednesday, October 28th. Finally, Wall Street Zen cut shares of Industrial Logistics Properties Trust from a “buy” rating to a “hold” rating in a research note on Saturday, August 1st. Two research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $10.50.

About Industrial Logistics Properties Trust

Industrial Logistics Properties Trust is a real estate investment trust that owns and leases industrial and logistics properties, including warehouses and distribution facilities. Its properties support activities such as storage, shipping and product distribution. The trust’s portfolio serves tenants across the United States, including in Hawaii. Its properties are generally positioned to support regional and national supply chains. Formed in 2017, Industrial Logistics Properties Trust is externally managed by The RMR Group, a real estate management company.