Industrial Logistics Properties Trust (NASDAQ:ILPT) Downgraded to Hold Rating by Zacks Research

Zacks Research lowered shares of Industrial Logistics Properties Trust (NASDAQ:ILPT) from a strong-buy rating to a hold rating in a research report released on Thursday,Zacks.com reports.

Separately, Weiss Ratings reissued a “sell (d)” rating on shares of Industrial Logistics Properties Trust in a report on Wednesday. One analyst has rated the stock with a Strong Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $5.00.

Industrial Logistics Properties Trust Stock Performance

ILPT opened at $5.33 on Thursday. The company has a quick ratio of 3.53, a current ratio of 3.53 and a debt-to-equity ratio of 4.59. The stock’s 50 day moving average price is $5.64 and its two-hundred day moving average price is $5.70. The firm has a market capitalization of $355.30 million, a P/E ratio of -3.95 and a beta of 2.48. Industrial Logistics Properties Trust has a 12-month low of $2.45 and a 12-month high of $6.57.

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

Industrial Logistics Properties Trust Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, February 19th. Stockholders of record on Monday, January 26th will be issued a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 3.8%. The ex-dividend date of this dividend is Monday, January 26th. Industrial Logistics Properties Trust’s dividend payout ratio (DPR) is presently -14.81%.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Quarry LP bought a new position in Industrial Logistics Properties Trust during the third quarter worth about $28,000. Advisory Services Network LLC acquired a new position in shares of Industrial Logistics Properties Trust in the 3rd quarter worth approximately $34,000. PNC Financial Services Group Inc. lifted its position in shares of Industrial Logistics Properties Trust by 125.7% during the 2nd quarter. PNC Financial Services Group Inc. now owns 7,881 shares of the company’s stock worth $36,000 after buying an additional 4,389 shares during the period. Strs Ohio bought a new position in shares of Industrial Logistics Properties Trust during the 1st quarter worth approximately $42,000. Finally, Ground Swell Capital LLC acquired a new stake in Industrial Logistics Properties Trust in the 2nd quarter valued at $54,000. 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.