Union Square Park Capital Management LLC Cuts Stock Holdings in Industrial Logistics Properties Trust $ILPT

Union Square Park Capital Management LLC lowered its stake in Industrial Logistics Properties Trust (NASDAQ:ILPT) by 18.0% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 762,838 shares of the company’s stock after selling 167,162 shares during the period. Industrial Logistics Properties Trust makes up approximately 2.5% of Union Square Park Capital Management LLC’s holdings, making the stock its 6th biggest position. Union Square Park Capital Management LLC’s holdings in Industrial Logistics Properties Trust were worth $4,333,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. State of Wyoming increased its holdings in shares of Industrial Logistics Properties Trust by 17.9% during the 1st quarter. State of Wyoming now owns 14,469 shares of the company’s stock valued at $82,000 after acquiring an additional 2,194 shares during the last quarter. Deutsche Bank AG lifted its holdings in Industrial Logistics Properties Trust by 3.0% in the 4th quarter. Deutsche Bank AG now owns 85,843 shares of the company’s stock worth $476,000 after purchasing an additional 2,496 shares during the last quarter. Jain Global LLC boosted its position in Industrial Logistics Properties Trust by 17.3% during the third quarter. Jain Global LLC now owns 16,975 shares of the company’s stock worth $99,000 after purchasing an additional 2,500 shares during the period. Verition Fund Management LLC boosted its position in Industrial Logistics Properties Trust by 5.6% during the third quarter. Verition Fund Management LLC now owns 53,861 shares of the company’s stock worth $314,000 after purchasing an additional 2,845 shares during the period. Finally, Hillsdale Investment Management Inc. grew its holdings in Industrial Logistics Properties Trust by 4.7% during the first quarter. Hillsdale Investment Management Inc. now owns 66,300 shares of the company’s stock valued at $377,000 after purchasing an additional 3,000 shares during the last quarter. Institutional investors own 49.08% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently commented on ILPT shares. Wall Street Zen raised shares of Industrial Logistics Properties Trust from a “hold” rating to a “buy” rating in a research report on Saturday, May 23rd. Loop Capital set a $11.50 target price on shares of Industrial Logistics Properties Trust in a research note on Wednesday. B. Riley Financial reiterated a “buy” rating on shares of Industrial Logistics Properties Trust in a report on Thursday, April 23rd. Zacks Research lowered shares of Industrial Logistics Properties Trust from a “strong-buy” rating to a “hold” rating in a research report on Wednesday. Finally, Weiss Ratings cut shares of Industrial Logistics Properties Trust from a “sell (d)” rating to a “sell (d-)” rating in a report on Thursday, May 28th. One analyst has rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Industrial Logistics Properties Trust has a consensus rating of “Hold” and a consensus price target of $11.50.

Industrial Logistics Properties Trust Price Performance

Shares of NASDAQ:ILPT opened at $9.20 on Friday. Industrial Logistics Properties Trust has a 1-year low of $4.92 and a 1-year high of $9.43. The firm has a market capitalization of $613.36 million, a PE ratio of -11.22 and a beta of 2.50. The business’s 50 day moving average is $8.77 and its 200-day moving average is $7.05. The company has a current ratio of 4.24, a quick ratio of 4.24 and a debt-to-equity ratio of 4.74.

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

Industrial Logistics Properties Trust Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 13th. Shareholders of record on Monday, July 20th will be issued a $0.10 dividend. This is a boost from Industrial Logistics Properties Trust’s previous quarterly dividend of $0.05. The ex-dividend date of this dividend is Monday, July 20th. This represents a $0.40 annualized dividend and a yield of 4.3%. Industrial Logistics Properties Trust’s payout ratio is presently -48.78%.

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.