Flat Footed LLC Sells 265,505 Shares of Industrial Logistics Properties Trust $ILPT

Flat Footed LLC reduced its stake in Industrial Logistics Properties Trust (NASDAQ:ILPT) by 15.6% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,435,087 shares of the company’s stock after selling 265,505 shares during the period. Industrial Logistics Properties Trust accounts for 0.9% of Flat Footed LLC’s holdings, making the stock its 11th biggest holding. Flat Footed LLC owned about 2.15% of Industrial Logistics Properties Trust worth $8,151,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also modified their holdings of ILPT. Quarry LP bought a new position in Industrial Logistics Properties Trust in the third quarter worth approximately $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 raised its position in Industrial Logistics Properties Trust by 387.2% during the 4th 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 in the last quarter. Strs Ohio bought a new stake in Industrial Logistics Properties Trust during the 1st 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 4th quarter worth $56,000. 49.08% of the stock is owned by hedge funds and other institutional investors.

Industrial Logistics Properties Trust Stock Performance

ILPT stock opened at $9.20 on Monday. The firm has a market cap of $613.36 million, a price-to-earnings ratio of -11.22 and a beta of 2.50. The firm has a 50-day simple moving average of $8.77 and a two-hundred day simple moving average of $7.06. Industrial Logistics Properties Trust has a one year low of $4.92 and a one year high of $9.43. 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) earnings per share for the quarter, topping 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 for the quarter, compared to the consensus estimate of $114.82 million. On average, equities 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 disclosed a quarterly dividend, which will be paid on Thursday, August 13th. Stockholders of record on Monday, July 20th will be issued a $0.10 dividend. This is an increase from Industrial Logistics Properties Trust’s previous quarterly dividend of $0.05. The ex-dividend date of this dividend is Monday, July 20th. This represents a $0.40 annualized dividend and a dividend yield of 4.3%. Industrial Logistics Properties Trust’s payout ratio is currently -48.78%.

Analyst Ratings Changes

A number of research firms have recently issued reports on ILPT. Loop Capital set a $11.50 price target on Industrial Logistics Properties Trust in a research report on Wednesday. B. Riley Financial restated a “buy” rating on shares of Industrial Logistics Properties Trust in a report on Thursday, April 23rd. Zacks Research lowered shares of Industrial Logistics Properties Trust from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 22nd. 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. Finally, Wall Street Zen upgraded shares of Industrial Logistics Properties Trust from a “hold” rating to a “buy” rating in a report on Saturday, May 23rd. One analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $11.50.

Industrial Logistics Properties Trust 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.