Industrial Logistics Properties Trust (NASDAQ:ILPT) Upgraded to Strong-Buy at Zacks Research

Zacks Research upgraded shares of Industrial Logistics Properties Trust (NASDAQ:ILPT) from a hold rating to a strong-buy rating in a research report released on Wednesday,Zacks.com reports.

Separately, Weiss Ratings reissued a “sell (d)” rating on shares of Industrial Logistics Properties Trust in a research report on Friday, October 31st. Two analysts have rated the stock with a Strong Buy rating and one has given a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $5.00.

Industrial Logistics Properties Trust Trading Down 0.2%

ILPT opened at $5.53 on Wednesday. The stock has a market capitalization of $368.62 million, a P/E ratio of -4.10 and a beta of 2.49. The company has a current ratio of 3.53, a quick ratio of 3.53 and a debt-to-equity ratio of 4.59. Industrial Logistics Properties Trust has a 12 month low of $2.45 and a 12 month high of $6.57. The firm’s fifty day simple moving average is $5.51 and its 200 day simple moving average is $5.56.

Industrial Logistics Properties Trust (NASDAQ:ILPT) last released its earnings results on Tuesday, October 28th. The company reported ($0.33) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.59). The firm had revenue of $110.94 million for the quarter, compared to the consensus estimate of $111.93 million. Industrial Logistics Properties Trust had a negative return on equity of 9.20% and a negative net margin of 19.87%.

Industrial Logistics Properties Trust Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 13th. Stockholders of record on Monday, October 27th were issued a $0.05 dividend. The ex-dividend date was Monday, October 27th. This represents a $0.20 annualized dividend and a dividend yield of 3.6%. Industrial Logistics Properties Trust’s dividend payout ratio (DPR) is presently -14.81%.

Institutional Trading of Industrial Logistics Properties Trust

Institutional investors and hedge funds have recently bought and sold shares of the stock. MetLife Investment Management LLC boosted its holdings in shares of Industrial Logistics Properties Trust by 34.6% in the 1st quarter. MetLife Investment Management LLC now owns 33,580 shares of the company’s stock valued at $116,000 after buying an additional 8,632 shares during the last quarter. Cubist Systematic Strategies LLC acquired a new position in Industrial Logistics Properties Trust during the first quarter worth $279,000. Los Angeles Capital Management LLC bought a new stake in Industrial Logistics Properties Trust during the second quarter worth $68,000. Bessemer Group Inc. acquired a new stake in Industrial Logistics Properties Trust in the second quarter valued at $92,000. Finally, Nomura Asset Management Co. Ltd. lifted its stake in Industrial Logistics Properties Trust by 13.9% in the second quarter. Nomura Asset Management Co. Ltd. now owns 89,900 shares of the company’s stock valued at $409,000 after acquiring an additional 11,000 shares during the last quarter. Institutional investors own 49.08% of the company’s stock.

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.