Industrial Logistics Properties Trust (NASDAQ:ILPT) Shares Up 5.3% After Analyst Upgrade

Shares of Industrial Logistics Properties Trust (NASDAQ:ILPT) shot up 5.3% during trading on Tuesday after Zacks Research upgraded the stock from a hold rating to a strong-buy rating. The stock traded as high as $8.42 and last traded at $8.5260. Approximately 7,916 shares changed hands during trading, a decline of 98% from the average daily volume of 392,091 shares. The stock had previously closed at $8.10.

ILPT has been the subject of several other research reports. Weiss Ratings cut Industrial Logistics Properties Trust from a “sell (d)” rating to a “sell (d-)” rating in a research note on Thursday, May 28th. Wall Street Zen upgraded Industrial Logistics Properties Trust from a “hold” rating to a “buy” rating in a report on Saturday, May 23rd. Loop Capital set a $7.40 price objective on Industrial Logistics Properties Trust in a research report on Tuesday, March 3rd. Finally, B. Riley Financial restated a “buy” rating on shares of Industrial Logistics Properties Trust in a report on Thursday, April 23rd. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $7.40.

Hedge Funds Weigh In On Industrial Logistics Properties Trust

A number of hedge funds and other institutional investors have recently bought and sold shares of ILPT. UMB Bank n.a. acquired a new position in Industrial Logistics Properties Trust in the 4th quarter valued at about $7,092,000. Millennium Management LLC boosted its stake in shares of Industrial Logistics Properties Trust by 181.2% in the third quarter. Millennium Management LLC now owns 1,308,289 shares of the company’s stock valued at $7,627,000 after purchasing an additional 843,033 shares during the period. Nantahala Capital Management LLC boosted its stake in shares of Industrial Logistics Properties Trust by 27.9% in the second quarter. Nantahala Capital Management LLC now owns 3,206,219 shares of the company’s stock valued at $14,588,000 after purchasing an additional 699,975 shares during the period. Invesco Ltd. grew its holdings in shares of Industrial Logistics Properties Trust by 201.2% in the third quarter. Invesco Ltd. now owns 551,302 shares of the company’s stock valued at $3,214,000 after purchasing an additional 368,294 shares in the last quarter. Finally, Inspire Investing LLC acquired a new position in shares of Industrial Logistics Properties Trust in the fourth quarter valued at approximately $1,263,000. 49.08% of the stock is currently owned by hedge funds and other institutional investors.

Industrial Logistics Properties Trust Stock Performance

The firm’s 50 day moving average is $8.02 and its two-hundred day moving average is $6.54. The stock has a market capitalization of $580.03 million, a PE ratio of -10.61 and a beta of 2.50. The company has a debt-to-equity ratio of 4.74, a quick ratio of 4.24 and a current ratio of 4.24.

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

Industrial Logistics Properties Trust Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, May 14th. Investors of record on Tuesday, April 21st were issued a $0.05 dividend. The ex-dividend date was Tuesday, April 21st. This represents a $0.20 dividend on an annualized basis and a yield of 2.3%. Industrial Logistics Properties Trust’s dividend payout ratio (DPR) is -24.39%.

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.