Industrial Logistics Properties Trust (NASDAQ:ILPT) Director Kevin Phelan Buys 2,000 Shares of Company Stock

Industrial Logistics Properties Trust (NASDAQ:ILPT) Director Kevin Phelan bought 2,000 shares of the company’s stock in a transaction that occurred on Monday, November 9th. The stock was bought 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 directly owned 9,500 shares in the company, valued at approximately $57,095. The trade was a 26.67% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this link.

Industrial Logistics Properties Trust Trading Down 3.7%

NASDAQ:ILPT opened at $6.06 on Friday. The stock’s 50 day moving average price is $7.12 and its 200 day moving average price is $7.38. The company has a market capitalization of $405.90 million, a PE ratio of 5.03 and a beta of 2.55. Industrial Logistics Properties Trust has a 52-week low of $5.01 and a 52-week high of $9.43. The company has a quick ratio of 3.78, a current ratio of 3.78 and a debt-to-equity ratio of 5.27.

Industrial Logistics Properties Trust (NASDAQ:ILPT) last issued its quarterly earnings results on Wednesday, October 28th. The company reported ($0.46) earnings per share 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 business had revenue of $116.81 million for the quarter, compared to analyst estimates of $117.48 million. On average, research analysts anticipate that Industrial Logistics Properties Trust will post 1.26 EPS for the current year.

Industrial Logistics Properties Trust Announces Dividend

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

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on ILPT. Zacks Research downgraded shares of Industrial Logistics Properties Trust from a “strong-buy” rating to a “hold” rating in a report on Wednesday, October 28th. Wall Street Zen downgraded Industrial Logistics Properties Trust from a “buy” rating to a “hold” rating in a research note on Saturday, August 1st. Freedom Broker reduced their price target on 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. B. Riley Financial decreased their price target on Industrial Logistics Properties Trust from $11.00 to $10.00 and set a “buy” rating on the stock in a research note on Monday, November 2nd. Finally, Loop Capital set a $11.50 price objective on Industrial Logistics Properties Trust in a report on Wednesday, July 22nd. Two 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 stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $10.50.

Institutional Investors Weigh In On Industrial Logistics Properties Trust

Institutional investors and hedge funds have recently modified their holdings of the company. Arrowstreet Capital Limited Partnership acquired a new stake in Industrial Logistics Properties Trust in the first quarter valued at $1,243,000. Bank of New York Mellon Corp acquired a new position in shares of Industrial Logistics Properties Trust during the 2nd quarter worth $1,758,000. Renaissance Technologies LLC boosted its position in shares of Industrial Logistics Properties Trust by 59.8% in the 1st 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 in the last quarter. Russell Investments Group Ltd. boosted its position 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 worth $3,331,000 after buying an additional 111,458 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its position in shares of Industrial Logistics Properties Trust by 89.7% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 181,519 shares of the company’s stock worth $1,265,000 after buying an additional 85,808 shares in 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 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.