Zacks Research Upgrades Industrial Logistics Properties Trust (NASDAQ:ILPT) to “Strong-Buy”

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

Separately, Weiss Ratings reiterated a “sell (d)” rating on shares of Industrial Logistics Properties Trust in a research note on Friday, October 31st. Two equities research analysts have rated the stock with a Strong Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Industrial Logistics Properties Trust presently has a consensus rating of “Buy” and an average target price of $5.00.

Industrial Logistics Properties Trust Price Performance

Shares of NASDAQ ILPT opened at $5.53 on Wednesday. The stock’s 50-day simple moving average is $5.51 and its 200-day simple moving average is $5.56. The firm has a market capitalization of $368.62 million, a PE ratio of -4.10 and a beta of 2.49. Industrial Logistics Properties Trust has a fifty-two week low of $2.45 and a fifty-two week high of $6.57. The company has a debt-to-equity ratio of 4.59, a quick ratio of 3.53 and a current ratio of 3.53.

Industrial Logistics Properties Trust (NASDAQ:ILPT) last announced its quarterly earnings results on Tuesday, October 28th. The company reported ($0.33) EPS for the quarter, missing the consensus estimate of $0.26 by ($0.59). Industrial Logistics Properties Trust had a negative net margin of 19.87% and a negative return on equity of 9.20%. The company had revenue of $110.94 million during the quarter, compared to analysts’ expectations of $111.93 million.

Institutional Trading of Industrial Logistics Properties Trust

A number of large investors have recently bought and sold shares of the business. Millennium Management LLC increased its stake in 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 grew its holdings in shares of Industrial Logistics Properties Trust by 27.9% during the second quarter. Nantahala Capital Management LLC now owns 3,206,219 shares of the company’s stock worth $14,588,000 after buying an additional 699,975 shares during the last quarter. Gateway Wealth Partners LLC acquired a new position in Industrial Logistics Properties Trust in the 3rd quarter valued at about $3,224,000. Invesco Ltd. raised its stake in Industrial Logistics Properties Trust by 201.2% during the 3rd quarter. Invesco Ltd. now owns 551,302 shares of the company’s stock valued at $3,214,000 after acquiring an additional 368,294 shares during the last quarter. Finally, Algert Global LLC raised its stake in Industrial Logistics Properties Trust by 530.3% during the 3rd quarter. Algert Global LLC now owns 250,966 shares of the company’s stock valued at $1,463,000 after acquiring an additional 211,150 shares during the last quarter. Institutional investors and hedge funds own 49.08% of the company’s stock.

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.