Industrial Logistics Properties Trust (NASDAQ:ILPT) Issues Earnings Results

Industrial Logistics Properties Trust (NASDAQ:ILPT) announced its quarterly earnings results on Wednesday. The company reported $0.31 EPS for the quarter, beating the consensus estimate of ($0.19) by $0.50, reports. Industrial Logistics Properties Trust had a negative return on equity of 5.93% and a negative net margin of 11.93%.The company had revenue of $114.12 million for the quarter, compared to the consensus estimate of $116.10 million.

Industrial Logistics Properties Trust Stock Performance

NASDAQ:ILPT opened at $8.73 on Thursday. The firm’s 50-day moving average is $8.81 and its 200-day moving average is $7.13. The company has a market cap of $582.36 million, a price-to-earnings ratio of -10.65 and a beta of 2.50. The company has a debt-to-equity ratio of 4.74, a quick ratio of 4.24 and a current ratio of 4.24. Industrial Logistics Properties Trust has a 52-week low of $4.92 and a 52-week high of $9.43.

Industrial Logistics Properties Trust Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 13th. Stockholders of record on Monday, July 20th will be issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 4.6%. The ex-dividend date is Monday, July 20th. This is a positive change from Industrial Logistics Properties Trust’s previous quarterly dividend of $0.05. Industrial Logistics Properties Trust’s payout ratio is presently -48.78%.

Institutional Investors Weigh In On Industrial Logistics Properties Trust

Institutional investors have recently added to or reduced their stakes in the company. Deutsche Bank AG increased its stake in Industrial Logistics Properties Trust by 3.0% during the fourth quarter. Deutsche Bank AG now owns 85,843 shares of the company’s stock valued at $476,000 after acquiring an additional 2,496 shares during the period. Jain Global LLC lifted its position in shares of Industrial Logistics Properties Trust by 17.3% in the 3rd quarter. Jain Global LLC now owns 16,975 shares of the company’s stock worth $99,000 after acquiring an additional 2,500 shares during the period. Verition Fund Management LLC lifted its position in shares of Industrial Logistics Properties Trust by 5.6% in the 3rd quarter. Verition Fund Management LLC now owns 53,861 shares of the company’s stock worth $314,000 after acquiring an additional 2,845 shares during the period. Price T Rowe Associates Inc. MD grew its holdings in shares of Industrial Logistics Properties Trust by 14.4% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 32,541 shares of the company’s stock worth $181,000 after purchasing an additional 4,099 shares in the last quarter. Finally, Quarry LP acquired a new stake in shares of Industrial Logistics Properties Trust during the 3rd quarter worth approximately $28,000. 49.08% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on ILPT. B. Riley Financial restated a “buy” rating on shares of Industrial Logistics Properties Trust in a research note on Thursday, April 23rd. Weiss Ratings lowered shares of Industrial Logistics Properties Trust from a “sell (d)” rating to a “sell (d-)” rating in a research report on Thursday, May 28th. Wall Street Zen raised Industrial Logistics Properties Trust from a “hold” rating to a “buy” rating in a research report on Saturday, May 23rd. Loop Capital set a $11.50 price objective on Industrial Logistics Properties Trust in a research report on Wednesday, July 22nd. Finally, Zacks Research downgraded Industrial Logistics Properties Trust from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 22nd. One analyst has rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $11.50.

About Industrial Logistics Properties Trust

Industrial Logistics Properties Trust (NASDAQ: ILPT) is a real estate investment trust focused on acquiring, owning and operating industrial logistics properties across the United States. The company specializes in modern distribution centers, cross-dock facilities and last-mile delivery hubs designed to support e-commerce, retail, manufacturing and third-party logistics customers. ILPT’s assets are characterized by high ceilings, ample loading docks and clear spans to accommodate a wide range of warehouse functions.

Formed as a spin-off from STAG Industrial, Inc in January 2022, ILPT commenced operations with a portfolio of strategically located facilities and a disciplined acquisition strategy.