Industrial Logistics Properties Trust (NASDAQ:ILPT) Reaches New 52-Week High – Here’s Why

Industrial Logistics Properties Trust (NASDAQ:ILPT)’s share price hit a new 52-week high during trading on Tuesday . The company traded as high as $8.30 and last traded at $8.2550, with a volume of 203529 shares changing hands. The stock had previously closed at $8.10.

Wall Street Analyst Weigh In

Several brokerages have issued reports on ILPT. B. Riley Financial reissued a “buy” rating on shares of Industrial Logistics Properties Trust in a research note on Thursday, April 23rd. Loop Capital set a $7.40 target price on shares of Industrial Logistics Properties Trust in a research report on Tuesday, March 3rd. Zacks Research lowered shares of Industrial Logistics Properties Trust from a “strong-buy” rating to a “hold” rating in a research report on Friday, May 1st. Finally, Weiss Ratings restated a “sell (d)” rating on shares of Industrial Logistics Properties Trust in a research report on Monday, April 27th. One analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $7.40.

Industrial Logistics Properties Trust Stock Up 2.0%

The company has a debt-to-equity ratio of 4.74, a quick ratio of 4.24 and a current ratio of 4.24. The firm’s 50-day moving average is $6.51 and its 200 day moving average is $5.93. The firm has a market capitalization of $550.69 million, a PE ratio of -10.07 and a beta of 2.47.

Industrial Logistics Properties Trust (NASDAQ:ILPT) last released its quarterly earnings data on Wednesday, April 29th. The company reported ($0.14) EPS 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 business had revenue of $116.42 million for the quarter, compared to analyst estimates of $114.82 million. As a group, research analysts forecast that Industrial Logistics Properties Trust will post 1.34 earnings per share for the current fiscal year.

Industrial Logistics Properties Trust Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 14th. Investors of record on Tuesday, April 21st were given a $0.05 dividend. The ex-dividend date was Tuesday, April 21st. This represents a $0.20 annualized dividend and a dividend yield of 2.4%. Industrial Logistics Properties Trust’s payout ratio is currently -24.39%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Bank of America Corp DE lifted its holdings in Industrial Logistics Properties Trust by 23.6% in the 1st quarter. Bank of America Corp DE now owns 51,792 shares of the company’s stock valued at $294,000 after purchasing an additional 9,898 shares in the last quarter. Royal Bank of Canada lifted its holdings in Industrial Logistics Properties Trust by 72.8% in the 1st quarter. Royal Bank of Canada now owns 11,361 shares of the company’s stock valued at $64,000 after purchasing an additional 4,788 shares in the last quarter. Empowered Funds LLC purchased a new position in Industrial Logistics Properties Trust in the 1st quarter valued at about $265,000. Quantinno Capital Management LP lifted its holdings in Industrial Logistics Properties Trust by 40.2% in the 1st quarter. Quantinno Capital Management LP now owns 54,557 shares of the company’s stock valued at $310,000 after purchasing an additional 15,637 shares in the last quarter. Finally, Renaissance Technologies LLC lifted its holdings in Industrial Logistics Properties Trust by 59.8% in the 1st quarter. Renaissance Technologies LLC now owns 458,989 shares of the company’s stock valued at $2,607,000 after purchasing an additional 171,689 shares in the last quarter. 49.08% of the stock is currently owned by hedge funds and other institutional investors.

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.