Industrial Logistics Properties Trust (NASDAQ:ILPT) Stock Rating Raised to Strong-Buy at Zacks Research

Zacks Research upgraded shares of Industrial Logistics Properties Trust (NASDAQ:ILPT) from a hold rating to a strong-buy rating in a research report released on Tuesday,Zacks reports.

ILPT has been the subject of a number of other research reports. Wall Street Zen lowered shares of Industrial Logistics Properties Trust from a “buy” rating to a “hold” rating in a report on Saturday, August 1st. Weiss Ratings raised shares of Industrial Logistics Properties Trust from a “sell (d-)” rating to a “sell (d)” rating in a report on Thursday, July 30th. Finally, Loop Capital set a $11.50 price target on shares of Industrial Logistics Properties Trust in a research report on Wednesday, July 22nd. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $11.50.

Industrial Logistics Properties Trust Trading Down 1.2%

Shares of ILPT stock opened at $7.09 on Tuesday. The firm has a market capitalization of $473.59 million, a P/E ratio of -9.85 and a beta of 2.49. Industrial Logistics Properties Trust has a twelve month low of $4.92 and a twelve month high of $9.43. The company has a quick ratio of 4.11, a current ratio of 4.11 and a debt-to-equity ratio of 4.97. The stock’s fifty day simple moving average is $8.27 and its 200 day simple moving average is $7.89.

Industrial Logistics Properties Trust (NASDAQ:ILPT) last posted its earnings results on Wednesday, July 29th. The company reported ($0.22) EPS for the quarter, missing the consensus estimate of ($0.19) by ($0.03). Industrial Logistics Properties Trust had a negative net margin of 10.37% and a negative return on equity of 5.34%. The firm had revenue of $114.12 million during the quarter, compared to the consensus estimate of $116.10 million. As a group, sell-side analysts predict that Industrial Logistics Properties Trust will post 1.37 EPS for the current fiscal year.

Industrial Logistics Properties Trust Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, August 13th. Shareholders of record on Monday, July 20th were given a $0.10 dividend. This is a boost from Industrial Logistics Properties Trust’s previous quarterly dividend of $0.05. The ex-dividend date was Monday, July 20th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 5.6%. Industrial Logistics Properties Trust’s dividend payout ratio is presently -55.56%.

Institutional Investors Weigh In On Industrial Logistics Properties Trust

Institutional investors and hedge funds have recently made changes to their positions in the stock. Sequoia Financial Advisors LLC lifted its stake in shares of Industrial Logistics Properties Trust by 24.4% in the second quarter. Sequoia Financial Advisors LLC now owns 38,432 shares of the company’s stock worth $341,000 after acquiring an additional 7,538 shares during the period. Bank of New York Mellon Corp bought a new stake in Industrial Logistics Properties Trust in the second quarter valued at approximately $1,758,000. Empowered Funds LLC acquired a new stake in Industrial Logistics Properties Trust during the 1st quarter valued at approximately $265,000. Bank of America Corp DE increased its position in Industrial Logistics Properties Trust by 23.6% during the 1st quarter. Bank of America Corp DE now owns 51,792 shares of the company’s stock valued at $294,000 after purchasing an additional 9,898 shares during the period. Finally, Royal Bank of Canada raised its holdings in 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 purchasing an additional 4,788 shares during the last quarter. Institutional investors and hedge funds own 49.08% of the company’s stock.

About Industrial Logistics Properties Trust

Industrial Logistics Properties Trust (NASDAQ:ILPT) is a real estate investment trust that owns and manages industrial and logistics properties in the United States. Its portfolio is designed to support essential supply-chain activities and includes distribution centers, warehouses, manufacturing facilities, and other industrial properties.

The trust generally leases its properties to business and government tenants, with locations serving a range of industries and transportation markets.