Industrial Logistics Properties Trust (NASDAQ:ILPT) Shares Gap Down on Disappointing Earnings

Industrial Logistics Properties Trust (NASDAQ:ILPT)’s stock price gapped down before the market opened on Thursday following a dissappointing earnings announcement. The stock had previously closed at $8.73, but opened at $8.07. Industrial Logistics Properties Trust shares last traded at $8.2940, with a volume of 73,662 shares trading hands.

The company reported ($0.22) earnings per share for the quarter, missing the consensus estimate of ($0.19) by ($0.03). The company had revenue of $114.12 million during the quarter, compared to the consensus estimate of $116.10 million. Industrial Logistics Properties Trust had a negative net margin of 10.37% and a negative return on equity of 5.34%.

Industrial Logistics Properties Trust Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 13th. Shareholders of record on Monday, July 20th will be issued a $0.10 dividend. The ex-dividend date of this dividend is Monday, July 20th. This represents a $0.40 annualized dividend and a yield of 4.6%. This is an increase from Industrial Logistics Properties Trust’s previous quarterly dividend of $0.05. Industrial Logistics Properties Trust’s payout ratio is currently -55.56%.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on ILPT. B. Riley Financial restated a “buy” rating on shares of Industrial Logistics Properties Trust in a research report on Thursday, April 23rd. Loop Capital set a $11.50 target price on Industrial Logistics Properties Trust in a research report on Wednesday, July 22nd. Weiss Ratings upgraded Industrial Logistics Properties Trust from a “sell (d-)” rating to a “sell (d)” rating in a research note on Thursday. Zacks Research cut Industrial Logistics Properties Trust from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 22nd. Finally, Wall Street Zen downgraded Industrial Logistics Properties Trust from a “buy” rating to a “hold” rating in a research note on Saturday. One research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $11.50.

Institutional Trading of Industrial Logistics Properties Trust

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Quarry LP bought a new stake in Industrial Logistics Properties Trust in the 3rd quarter valued at about $28,000. Advisory Services Network LLC bought a new position in shares of Industrial Logistics Properties Trust during the third quarter worth approximately $34,000. Royal Bank of Canada increased its holdings in shares of 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 worth $36,000 after purchasing an additional 5,224 shares during the period. Strs Ohio acquired a new stake in shares of Industrial Logistics Properties Trust in the first quarter valued at approximately $42,000. Finally, Retirement Planning Co of New England Inc. acquired a new stake in shares of Industrial Logistics Properties Trust in the fourth quarter valued at approximately $56,000. Institutional investors and hedge funds own 49.08% of the company’s stock.

Industrial Logistics Properties Trust Trading Up 1.7%

The company has a debt-to-equity ratio of 4.97, a current ratio of 4.11 and a quick ratio of 4.24. The company has a market capitalization of $574.72 million, a price-to-earnings ratio of -11.96 and a beta of 2.50. The business’s 50-day moving average price is $8.80 and its two-hundred day moving average price is $7.15.

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.