Industrial Logistics Properties Trust (NASDAQ:ILPT) Reaches New 52-Week High – Here’s What Happened

Industrial Logistics Properties Trust (NASDAQ:ILPT) shares reached a new 52-week high during mid-day trading on Thursday . The stock traded as high as $8.97 and last traded at $8.90, with a volume of 32456 shares changing hands. The stock had previously closed at $8.72.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the stock. Wall Street Zen upgraded shares of Industrial Logistics Properties Trust from a “hold” rating to a “buy” rating in a research note on Saturday, May 23rd. Loop Capital set a $7.40 price target on shares of Industrial Logistics Properties Trust in a report on Tuesday, March 3rd. Weiss Ratings reiterated a “sell (d)” rating on shares of Industrial Logistics Properties Trust in a research note on Monday, April 27th. Zacks Research lowered Industrial Logistics Properties Trust from a “strong-buy” rating to a “hold” rating in a research note on Friday, May 1st. Finally, B. Riley Financial reaffirmed a “buy” rating on shares of Industrial Logistics Properties Trust in a research report on Thursday, April 23rd. One equities research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $7.40.

Industrial Logistics Properties Trust Stock Up 2.1%

The company has a current ratio of 4.24, a quick ratio of 4.24 and a debt-to-equity ratio of 4.74. The company has a market capitalization of $593.63 million, a PE ratio of -10.89 and a beta of 2.47. The business’s 50-day simple moving average is $6.85 and its 200-day simple moving average is $6.09.

Industrial Logistics Properties Trust (NASDAQ:ILPT) last released its quarterly earnings data on Wednesday, April 29th. The company reported ($0.14) EPS for the quarter, beating the consensus estimate of ($0.20) by $0.06. The business had revenue of $116.42 million for the quarter, compared to the consensus estimate of $114.82 million. Industrial Logistics Properties Trust had a negative net margin of 11.93% and a negative return on equity of 5.93%. As a group, equities research analysts anticipate that Industrial Logistics Properties Trust will post 1.34 EPS for the current fiscal year.

Industrial Logistics Properties Trust Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 14th. Shareholders of record on Tuesday, April 21st were issued a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 2.2%. The ex-dividend date of this dividend was Tuesday, April 21st. Industrial Logistics Properties Trust’s dividend payout ratio is presently -24.39%.

Hedge Funds Weigh In On Industrial Logistics Properties Trust

Institutional investors have recently modified their holdings of the stock. Strs Ohio purchased a new stake in shares of Industrial Logistics Properties Trust in the first quarter worth about $42,000. Rhumbline Advisers raised its position in Industrial Logistics Properties Trust by 16.3% during the second quarter. Rhumbline Advisers now owns 95,564 shares of the company’s stock valued at $435,000 after acquiring an additional 13,418 shares in the last quarter. XTX Topco Ltd purchased a new position in Industrial Logistics Properties Trust during the second quarter valued at approximately $200,000. Marshall Wace LLP lifted its holdings in Industrial Logistics Properties Trust by 163.9% in the second quarter. Marshall Wace LLP now owns 84,725 shares of the company’s stock valued at $385,000 after acquiring an additional 52,623 shares during the period. Finally, Jump Financial LLC purchased a new stake in Industrial Logistics Properties Trust in the 2nd quarter worth approximately $188,000. Hedge funds and other institutional investors own 49.08% of the company’s stock.

Industrial Logistics Properties Trust Company Profile

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.