Industrial Logistics Properties Trust (NASDAQ:ILPT) Stock Moved Down to Sell by Wall Street Zen

Wall Street Zen downgraded shares of Industrial Logistics Properties Trust (NASDAQ:ILPT) from a hold rating to a sell rating in a research note issued to investors on Saturday,Wall Street Zen reports.

A number of other analysts also recently weighed in on the company. Weiss Ratings restated a “sell (d)” rating on shares of Industrial Logistics Properties Trust in a report on Wednesday, October 28th. Zacks Research lowered Industrial Logistics Properties Trust from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, October 28th. Freedom Broker cut their target price on Industrial Logistics Properties Trust from $11.00 to $10.00 and set a “buy” rating on the stock in a report on Tuesday, November 3rd. B. Riley Financial cut their target price on Industrial Logistics Properties Trust from $11.00 to $10.00 and set a “buy” rating on the stock in a report on Monday, November 2nd. Finally, Loop Capital set a $11.50 price target on Industrial Logistics Properties Trust in a research report on Wednesday, July 22nd. Two equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $10.50.

Industrial Logistics Properties Trust Trading Up 0.2%

ILPT traded up $0.01 during trading on Friday, reaching $6.07. 343,335 shares of the company’s stock were exchanged, compared to its average volume of 537,028. The company has a current ratio of 3.78, a quick ratio of 3.78 and a debt-to-equity ratio of 5.27. Industrial Logistics Properties Trust has a one year low of $5.01 and a one year high of $9.43. The firm has a fifty day moving average price of $7.08 and a two-hundred day moving average price of $7.38. The stock has a market capitalization of $406.57 million, a PE ratio of -7.14 and a beta of 2.55.

Industrial Logistics Properties Trust (NASDAQ:ILPT) last released its quarterly earnings results on Wednesday, October 28th. The company reported ($0.46) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.14) by ($0.32). The business had revenue of $116.81 million for the quarter, compared to the consensus estimate of $117.48 million. Industrial Logistics Properties Trust had a negative net margin of 12.12% and a negative return on equity of 6.54%. As a group, equities research analysts forecast that Industrial Logistics Properties Trust will post 1.26 earnings per share for the current fiscal year.

Industrial Logistics Properties Trust Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, November 12th. Shareholders of record on Monday, October 19th were issued a dividend of $0.10 per share. The ex-dividend date was Monday, October 19th. This represents a $0.40 annualized dividend and a yield of 6.6%. Industrial Logistics Properties Trust’s dividend payout ratio (DPR) is presently -47.06%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of ILPT. Russell Investments Group Ltd. boosted its stake in shares of Industrial Logistics Properties Trust by 31.2% in the 3rd quarter. Russell Investments Group Ltd. now owns 469,099 shares of the company’s stock valued at $3,331,000 after purchasing an additional 111,458 shares during the last quarter. Renaissance Technologies LLC raised its stake in Industrial Logistics Properties Trust by 59.8% during the first 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. Bank of New York Mellon Corp acquired a new position in Industrial Logistics Properties Trust in the second quarter valued at $1,758,000. Allspring Global Investments Holdings LLC lifted its holdings in Industrial Logistics Properties Trust by 89.7% in the third quarter. Allspring Global Investments Holdings LLC now owns 181,519 shares of the company’s stock valued at $1,265,000 after buying an additional 85,808 shares during the period. Finally, Arrowstreet Capital Limited Partnership acquired a new position in Industrial Logistics Properties Trust in the first quarter valued at $1,243,000. Institutional investors and hedge funds own 49.08% of the company’s stock.

Industrial Logistics Properties Trust Company Profile

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.