Industrial Logistics Properties Trust (NASDAQ:ILPT) Sets New 52-Week High – Time to Buy?

Shares of Industrial Logistics Properties Trust (NASDAQ:ILPT) reached a new 52-week high during trading on Friday . The stock traded as high as $9.35 and last traded at $9.28, with a volume of 2114725 shares trading hands. The stock had previously closed at $8.78.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on ILPT shares. Wall Street Zen raised shares of Industrial Logistics Properties Trust from a “hold” rating to a “buy” rating in a report on Saturday, May 23rd. B. Riley Financial reaffirmed a “buy” rating on shares of Industrial Logistics Properties Trust in a report on Thursday, April 23rd. Weiss Ratings downgraded Industrial Logistics Properties Trust from a “sell (d)” rating to a “sell (d-)” rating in a research report on Thursday, May 28th. Loop Capital set a $7.40 price target on Industrial Logistics Properties Trust in a research report on Tuesday, March 3rd. Finally, Zacks Research upgraded Industrial Logistics Properties Trust from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, June 23rd. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Industrial Logistics Properties Trust currently has an average rating of “Moderate Buy” and an average target price of $7.40.

Industrial Logistics Properties Trust Price Performance

The stock has a market capitalization of $618.70 million, a PE ratio of -11.32 and a beta of 2.50. 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 stock’s fifty day moving average is $8.15 and its 200-day moving average is $6.58.

Industrial Logistics Properties Trust (NASDAQ:ILPT) last released its quarterly earnings data on Wednesday, April 29th. The company reported ($0.14) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.20) by $0.06. The company had revenue of $116.42 million during the quarter, compared to analysts’ expectations of $114.82 million. Industrial Logistics Properties Trust had a negative net margin of 11.93% and a negative return on equity of 5.93%. As a group, equities analysts predict that Industrial Logistics Properties Trust will post 1.34 earnings per share for the current fiscal year.

Industrial Logistics Properties Trust Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 14th. Investors of record on Tuesday, April 21st were paid a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 2.2%. The ex-dividend date was Tuesday, April 21st. Industrial Logistics Properties Trust’s payout ratio is currently -24.39%.

Hedge Funds Weigh In On Industrial Logistics Properties Trust

A number of hedge funds have recently bought and sold shares of the business. Quarry LP acquired a new stake in Industrial Logistics Properties Trust in the third quarter valued at approximately $28,000. Advisory Services Network LLC acquired a new position in shares of Industrial Logistics Properties Trust during the 3rd quarter worth approximately $34,000. Royal Bank of Canada raised its stake in shares of Industrial Logistics Properties Trust by 387.2% during the 4th quarter. Royal Bank of Canada now owns 6,573 shares of the company’s stock worth $36,000 after buying an additional 5,224 shares during the period. Strs Ohio purchased a new position in shares of Industrial Logistics Properties Trust during the 1st quarter valued at approximately $42,000. Finally, Retirement Planning Co of New England Inc. purchased a new position in shares of Industrial Logistics Properties Trust during the 4th quarter valued at approximately $56,000. Hedge funds and other institutional investors 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.