Zacks Research Downgrades Industrial Logistics Properties Trust (NASDAQ:ILPT) to Hold

Industrial Logistics Properties Trust (NASDAQ:ILPT) was downgraded by stock analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a note issued to investors on Wednesday,Zacks.com reports.

Other research analysts have also recently issued reports about the stock. Weiss Ratings cut shares of Industrial Logistics Properties Trust from a “sell (d)” rating to a “sell (d-)” rating in a report on Thursday, May 28th. Wall Street Zen raised Industrial Logistics Properties Trust from a “hold” rating to a “buy” rating in a report on Saturday, May 23rd. Loop Capital set a $11.50 target price on Industrial Logistics Properties Trust in a research report on Wednesday. Finally, B. Riley Financial reaffirmed a “buy” rating on shares of Industrial Logistics Properties Trust in a research note on Thursday, April 23rd. One analyst has rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Industrial Logistics Properties Trust presently has an average rating of “Hold” and an average target price of $11.50.

Industrial Logistics Properties Trust Stock Performance

ILPT stock opened at $9.19 on Wednesday. The company has a market capitalization of $612.70 million, a P/E ratio of -11.21 and a beta of 2.50. The company has a 50-day simple moving average of $8.74 and a 200 day simple moving average of $7.04. Industrial Logistics Properties Trust has a fifty-two week low of $4.92 and a fifty-two week high of $9.37. The company has a quick ratio of 4.24, a current ratio of 4.24 and a debt-to-equity ratio of 4.74.

Industrial Logistics Properties Trust (NASDAQ:ILPT) last announced its earnings results on Wednesday, April 29th. The company reported ($0.14) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.20) by $0.06. The firm had revenue of $116.42 million during the quarter, compared to analyst estimates 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%. Sell-side analysts predict that Industrial Logistics Properties Trust will post 1.34 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Industrial Logistics Properties Trust

Several large investors have recently made changes to their positions in ILPT. Quarry LP acquired a new position in shares of Industrial Logistics Properties Trust in the 3rd quarter worth approximately $28,000. Advisory Services Network LLC acquired a new stake in Industrial Logistics Properties Trust during the third quarter valued at approximately $34,000. Royal Bank of Canada lifted its stake in Industrial Logistics Properties Trust by 387.2% during 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 last quarter. SteelPeak Wealth LLC acquired a new stake in Industrial Logistics Properties Trust during the first quarter valued at approximately $57,000. Finally, Retirement Planning Co of New England Inc. bought a new stake in Industrial Logistics Properties Trust during the fourth quarter worth approximately $56,000. 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.