Industrial Logistics Properties Trust (NASDAQ:ILPT) Coverage Initiated at B. Riley

B. Riley initiated coverage on shares of Industrial Logistics Properties Trust (NASDAQ:ILPT) in a research report sent to investors on Friday morning. The brokerage issued a buy rating and a $5.00 price target on the stock.

Industrial Logistics Properties Trust Trading Up 1.9 %

Shares of ILPT stock opened at $3.15 on Friday. The stock has a market cap of $208.35 million, a P/E ratio of -2.16 and a beta of 2.14. Industrial Logistics Properties Trust has a 1 year low of $2.45 and a 1 year high of $5.45. The company has a current ratio of 4.84, a quick ratio of 4.53 and a debt-to-equity ratio of 4.26. The stock has a 50 day simple moving average of $3.12 and a 200 day simple moving average of $3.52.

Industrial Logistics Properties Trust (NASDAQ:ILPT) last released its earnings results on Tuesday, April 29th. The company reported $0.20 earnings per share (EPS) for the quarter. The company had revenue of $111.91 million for the quarter. Industrial Logistics Properties Trust had a negative return on equity of 8.98% and a negative net margin of 21.63%.

Industrial Logistics Properties Trust Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Tuesday, April 22nd will be given a $0.01 dividend. This represents a $0.04 annualized dividend and a dividend yield of 1.27%. The ex-dividend date is Tuesday, April 22nd. Industrial Logistics Properties Trust’s payout ratio is presently -2.80%.

Institutional Trading of Industrial Logistics Properties Trust

Several large investors have recently made changes to their positions in ILPT. New Age Alpha Advisors LLC bought a new stake in Industrial Logistics Properties Trust during the first quarter worth $34,000. Single Point Partners LLC bought a new stake in shares of Industrial Logistics Properties Trust during the 1st quarter worth $36,000. First Trust Advisors LP acquired a new stake in Industrial Logistics Properties Trust in the fourth quarter valued at about $39,000. EMC Capital Management boosted its stake in Industrial Logistics Properties Trust by 65.2% in the fourth quarter. EMC Capital Management now owns 13,319 shares of the company’s stock valued at $49,000 after buying an additional 5,255 shares in the last quarter. Finally, Caprock Group LLC bought a new position in Industrial Logistics Properties Trust in the fourth quarter valued at about $56,000. 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, 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.