Industrial Logistics Properties Trust (NASDAQ:ILPT) Given New $10.00 Price Target at B. Riley Financial

Industrial Logistics Properties Trust (NASDAQ:ILPT) had its price target dropped by stock analysts at B. Riley Financial from $11.00 to $10.00 in a research note issued to investors on Monday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. B. Riley Financial‘s price target points to a potential upside of 47.38% from the company’s current price.

A number of other research firms also recently issued reports on ILPT. Zacks Research downgraded shares of Industrial Logistics Properties Trust from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, October 28th. Wall Street Zen downgraded shares of Industrial Logistics Properties Trust from a “buy” rating to a “hold” rating in a research note on Saturday, August 1st. Weiss Ratings reiterated a “sell (d)” rating on shares of Industrial Logistics Properties Trust in a report on Wednesday. Finally, Loop Capital set a $11.50 price objective on Industrial Logistics Properties Trust in a research report on Wednesday, July 22nd. One research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $10.75.

Industrial Logistics Properties Trust Stock Down 0.2%

Shares of ILPT stock traded down $0.01 on Monday, reaching $6.79. 244,431 shares of the company’s stock traded hands, compared to its average volume of 398,162. The company has a market capitalization of $454.48 million, a P/E ratio of -7.99 and a beta of 2.54. Industrial Logistics Properties Trust has a 12-month low of $5.01 and a 12-month high of $9.43. The company has a debt-to-equity ratio of 5.27, a quick ratio of 3.78 and a current ratio of 3.78. The business’s 50 day moving average price is $7.51 and its two-hundred day moving average price is $7.36.

Industrial Logistics Properties Trust (NASDAQ:ILPT) last announced its quarterly earnings data on Wednesday, October 28th. The company reported ($0.46) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.14) by ($0.32). Industrial Logistics Properties Trust had a negative return on equity of 6.54% and a negative net margin of 12.12%. The business had revenue of $116.81 million during the quarter, compared to analysts’ expectations of $117.48 million. On average, equities analysts forecast that Industrial Logistics Properties Trust will post 1.24 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of ILPT. SteelPeak Wealth LLC bought a new position in shares of Industrial Logistics Properties Trust during the 1st quarter valued at $57,000. SG Americas Securities LLC acquired a new position in Industrial Logistics Properties Trust during the first quarter worth $64,000. Royal Bank of Canada increased its position in Industrial Logistics Properties Trust by 72.8% during the first quarter. Royal Bank of Canada now owns 11,361 shares of the company’s stock worth $64,000 after buying an additional 4,788 shares during the last quarter. State of Wyoming raised its holdings in Industrial Logistics Properties Trust by 17.9% during the first quarter. State of Wyoming now owns 14,469 shares of the company’s stock valued at $82,000 after buying an additional 2,194 shares in the last quarter. Finally, Sequoia Financial Advisors LLC raised its holdings in Industrial Logistics Properties Trust by 24.4% during the second quarter. Sequoia Financial Advisors LLC now owns 38,432 shares of the company’s stock valued at $341,000 after buying an additional 7,538 shares in the last quarter. 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 owning and leasing industrial and logistics properties. Its portfolio includes distribution centers, warehouse facilities, and other properties used for transportation, storage, manufacturing, and related business activities.

The company serves tenants across the United States, with properties located in a variety of major logistics markets and industrial regions. Its facilities support supply-chain operations for businesses that require strategically located space near transportation networks and population centers.

Industrial Logistics Properties Trust was established in 2017 and is externally managed by The RMR Group, a property management and real estate services company.