CastleKnight Management LP Purchases 154,200 Shares of Industrial Logistics Properties Trust $ILPT

CastleKnight Management LP lifted its position in Industrial Logistics Properties Trust (NASDAQ:ILPT) by 8.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,911,859 shares of the company’s stock after acquiring an additional 154,200 shares during the quarter. CastleKnight Management LP owned 2.87% of Industrial Logistics Properties Trust worth $10,592,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in ILPT. Quarry LP bought a new stake in shares of Industrial Logistics Properties Trust in the third quarter valued at about $28,000. Advisory Services Network LLC bought a new stake in shares of Industrial Logistics Properties Trust in the third quarter valued at about $34,000. Royal Bank of Canada raised its holdings in shares of Industrial Logistics Properties Trust by 387.2% in the fourth quarter. Royal Bank of Canada now owns 6,573 shares of the company’s stock valued at $36,000 after acquiring an additional 5,224 shares in the last quarter. Strs Ohio bought a new stake in shares of Industrial Logistics Properties Trust in the first quarter valued at about $42,000. Finally, Retirement Planning Co of New England Inc. bought a new stake in shares of Industrial Logistics Properties Trust in the fourth quarter valued at about $56,000. 49.08% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on ILPT. Weiss Ratings downgraded Industrial Logistics Properties Trust from a “sell (d)” rating to a “sell (d-)” rating in a report on Thursday, May 28th. Loop Capital set a $7.40 price objective on Industrial Logistics Properties Trust in a report on Tuesday, March 3rd. B. Riley Financial reiterated a “buy” rating on shares of Industrial Logistics Properties Trust in a research note on Thursday, April 23rd. Wall Street Zen upgraded Industrial Logistics Properties Trust from a “hold” rating to a “buy” rating in a research note on Saturday, May 23rd. Finally, Zacks Research lowered Industrial Logistics Properties Trust from a “strong-buy” rating to a “hold” rating in a research note on Friday, May 1st. One research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Industrial Logistics Properties Trust currently has a consensus rating of “Hold” and a consensus price target of $7.40.

Industrial Logistics Properties Trust Price Performance

ILPT opened at $8.32 on Thursday. The business’s 50-day moving average is $7.74 and its two-hundred day moving average is $6.44. Industrial Logistics Properties Trust has a 1 year low of $4.33 and a 1 year high of $9.17. The company has a debt-to-equity ratio of 4.74, a current ratio of 4.24 and a quick ratio of 4.24. The firm has a market capitalization of $554.69 million, a PE ratio of -10.15 and a beta of 2.50.

Industrial Logistics Properties Trust (NASDAQ:ILPT) last posted its earnings results on Wednesday, April 29th. The company reported ($0.14) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.20) by $0.06. Industrial Logistics Properties Trust had a negative return on equity of 5.93% and a negative net margin of 11.93%.The company had revenue of $116.42 million for the quarter, compared to analyst estimates of $114.82 million. Research analysts anticipate 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 declared a quarterly dividend, which was paid on Thursday, May 14th. Stockholders of record on Tuesday, April 21st were paid a dividend of $0.05 per share. The ex-dividend date was Tuesday, April 21st. This represents a $0.20 dividend on an annualized basis and a dividend yield of 2.4%. Industrial Logistics Properties Trust’s payout ratio is presently -24.39%.

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.