Industrial Logistics Properties Trust (NASDAQ:ILPT) Lowered to Hold Rating by Wall Street Zen

Wall Street Zen downgraded shares of Industrial Logistics Properties Trust (NASDAQ:ILPT) from a buy rating to a hold rating in a report released on Saturday morning.

A number of other research firms also recently commented on ILPT. B. Riley Financial reissued a “buy” rating on shares of Industrial Logistics Properties Trust in a research note on Thursday, April 23rd. Zacks Research cut Industrial Logistics Properties Trust from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 22nd. Loop Capital set a $11.50 target price on Industrial Logistics Properties Trust in a report on Wednesday, July 22nd. Finally, Weiss Ratings raised Industrial Logistics Properties Trust from a “sell (d-)” rating to a “sell (d)” rating in a report on Thursday. One investment 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. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $11.50.

Industrial Logistics Properties Trust Price Performance

NASDAQ ILPT opened at $8.61 on Friday. Industrial Logistics Properties Trust has a 12 month low of $4.92 and a 12 month high of $9.43. The firm has a market capitalization of $574.72 million, a PE ratio of -11.96 and a beta of 2.50. The company’s 50 day simple moving average is $8.80 and its 200 day simple moving average is $7.15. The company has a debt-to-equity ratio of 4.97, a current ratio of 4.11 and a quick ratio of 4.24.

Industrial Logistics Properties Trust (NASDAQ:ILPT) last released its earnings results on Wednesday, July 29th. The company reported ($0.22) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.03). The firm had revenue of $114.12 million during the quarter, compared to analyst estimates of $116.10 million. Industrial Logistics Properties Trust had a negative return on equity of 5.34% and a negative net margin of 10.37%. As a group, equities research analysts forecast that Industrial Logistics Properties Trust will post 1.34 EPS for the current fiscal year.

Industrial Logistics Properties Trust Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 13th. Shareholders of record on Monday, July 20th will be paid a dividend of $0.10 per share. This is a boost from Industrial Logistics Properties Trust’s previous quarterly dividend of $0.05. This represents a $0.40 dividend on an annualized basis and a yield of 4.6%. The ex-dividend date of this dividend is Monday, July 20th. Industrial Logistics Properties Trust’s payout ratio is currently -55.56%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Empowered Funds LLC acquired a new stake in shares of Industrial Logistics Properties Trust during the first quarter valued at approximately $265,000. Bank of America Corp DE lifted its position in shares of Industrial Logistics Properties Trust by 23.6% in the 1st quarter. Bank of America Corp DE now owns 51,792 shares of the company’s stock valued at $294,000 after acquiring an additional 9,898 shares in the last quarter. Royal Bank of Canada boosted its stake in Industrial Logistics Properties Trust by 72.8% in 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 period. Quantinno Capital Management LP boosted its stake in Industrial Logistics Properties Trust by 40.2% in the 1st quarter. Quantinno Capital Management LP now owns 54,557 shares of the company’s stock worth $310,000 after purchasing an additional 15,637 shares during the period. Finally, Renaissance Technologies LLC grew its position in Industrial Logistics Properties Trust by 59.8% during the 1st quarter. Renaissance Technologies LLC now owns 458,989 shares of the company’s stock worth $2,607,000 after purchasing an additional 171,689 shares in the last quarter. 49.08% of the stock is currently owned by institutional investors and hedge funds.

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.