Industrial Logistics Properties Trust (NASDAQ:ILPT) Cut to Hold at Wall Street Zen

by · The Markets Daily

Wall Street Zen cut shares of Industrial Logistics Properties Trust (NASDAQ:ILPT – Free Report) from a buy rating to a hold rating in a research note released on Saturday.

Several other equities research analysts have also commented on the stock. Weiss Ratings upgraded shares of Industrial Logistics Properties Trust from a “sell (d-)” rating to a “sell (d)” rating in a research note on Thursday. B. Riley Financial reissued a “buy” rating on shares of Industrial Logistics Properties Trust in a research report on Thursday, April 23rd. Zacks Research downgraded shares of Industrial Logistics Properties Trust from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 22nd. Finally, Loop Capital set a $11.50 price objective on Industrial Logistics Properties Trust in a report on Wednesday, July 22nd. One research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $11.50.

View Our Latest Report on Industrial Logistics Properties Trust

Industrial Logistics Properties Trust Stock Performance

Shares of Industrial Logistics Properties Trust stock opened at $8.75 on Friday. The firm has a market capitalization of $584.06 million, a P/E ratio of -12.15 and a beta of 2.49. Industrial Logistics Properties Trust has a 52 week low of $4.92 and a 52 week high of $9.43. The company has a quick ratio of 4.11, a current ratio of 4.11 and a debt-to-equity ratio of 4.97. The firm’s 50 day moving average is $8.80 and its two-hundred day moving average is $7.18.

Industrial Logistics Properties Trust (NASDAQ:ILPT – Get Free Report) last issued its quarterly earnings data on Wednesday, July 29th. The company reported ($0.22) earnings per share for the quarter, missing the consensus estimate of ($0.19) by ($0.03). Industrial Logistics Properties Trust had a negative return on equity of 5.34% and a negative net margin of 10.37%.The company had revenue of $114.12 million for the quarter, compared to analysts’ expectations of $116.10 million. 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 firm also recently announced a quarterly dividend, which will be paid on Thursday, August 13th. Stockholders of record on Monday, July 20th will be given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 4.6%. This is a boost from Industrial Logistics Properties Trust’s previous quarterly dividend of $0.05. The ex-dividend date is Monday, July 20th. Industrial Logistics Properties Trust’s payout ratio is -55.56%.

Hedge Funds Weigh In On Industrial Logistics Properties Trust

A number of institutional investors have recently modified their holdings of the business. Quarry LP acquired a new stake in Industrial Logistics Properties Trust during the 3rd quarter worth $28,000. Advisory Services Network LLC purchased a new position in Industrial Logistics Properties Trust during the 3rd quarter worth $34,000. Royal Bank of Canada increased its stake in Industrial Logistics Properties Trust by 387.2% in the fourth quarter. Royal Bank of Canada now owns 6,573 shares of the company’s stock valued at $36,000 after purchasing an additional 5,224 shares during the period. Strs Ohio acquired a new position in Industrial Logistics Properties Trust in the first quarter valued at $42,000. Finally, Retirement Planning Co of New England Inc. purchased a new stake in shares of Industrial Logistics Properties Trust in the fourth quarter valued at about $56,000. 49.08% of the stock is owned by institutional investors and hedge funds.

About Industrial Logistics Properties Trust

(Get Free Report)

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.

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