Industrial Logistics Properties Trust (NASDAQ:ILPT) Reaches New 12-Month High – Time to Buy?

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 trading hands. The stock had previously closed at $8.72.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. 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 Friday, May 1st. Loop Capital set a $7.40 target price on Industrial Logistics Properties Trust in a research note on Tuesday, March 3rd. Weiss Ratings cut Industrial Logistics Properties Trust from a “sell (d)” rating to a “sell (d-)” rating in a research note on Thursday. Finally, Wall Street Zen raised Industrial Logistics Properties Trust from a “hold” rating to a “buy” rating in a research note on Saturday, May 23rd. One equities research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $7.40.

Industrial Logistics Properties Trust Trading Up 0.8%

The company has a market capitalization of $597.99 million, a P/E ratio of -10.94 and a beta of 2.47. The stock’s 50 day moving average is $6.96 and its 200-day moving average is $6.13. The company has a debt-to-equity ratio of 4.74, a current ratio of 4.24 and a quick ratio of 4.24.

Industrial Logistics Properties Trust (NASDAQ:ILPT) last released its quarterly earnings results on Wednesday, April 29th. The company reported ($0.14) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.20) by $0.06. The company had revenue of $116.42 million during 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 earnings per share for the current year.

Industrial Logistics Properties Trust Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, May 14th. Investors of record on Tuesday, April 21st were paid 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%.

Institutional Investors Weigh In On Industrial Logistics Properties Trust

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Bank of America Corp DE grew its stake in Industrial Logistics Properties Trust by 23.6% in the first quarter. Bank of America Corp DE now owns 51,792 shares of the company’s stock worth $294,000 after purchasing an additional 9,898 shares during the period. Royal Bank of Canada grew its holdings in Industrial Logistics Properties Trust by 72.8% in the first 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. Empowered Funds LLC purchased a new stake in Industrial Logistics Properties Trust in the first quarter worth about $265,000. Quantinno Capital Management LP grew its holdings in Industrial Logistics Properties Trust by 40.2% in the first 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 holdings in Industrial Logistics Properties Trust by 59.8% in the first 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 during the period. 49.08% of the stock is owned by hedge funds and other institutional investors.

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.