Insider Buying: Industrial Logistics Properties Trust (NASDAQ:ILPT) Director Buys $12,020.00 in Stock

Industrial Logistics Properties Trust (NASDAQ:ILPT) Director Kevin Phelan bought 2,000 shares of the business’s stock in a transaction on Monday, November 9th. The stock was bought at an average price of $6.01 per share, for a total transaction of $12,020.00. Following the transaction, the director directly owned 9,500 shares of the company’s stock, valued at approximately $57,095. This represents a 26.67% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website.

Industrial Logistics Properties Trust Price Performance

Shares of NASDAQ ILPT traded up $0.01 during midday trading on Friday, reaching $6.07. 343,335 shares of the company were exchanged, compared to its average volume of 537,028. The stock’s 50-day moving average price is $7.08 and its 200-day moving average price is $7.38. The stock has a market cap of $406.57 million, a P/E ratio of -7.14 and a beta of 2.55. Industrial Logistics Properties Trust has a one year low of $5.01 and a one year high of $9.43. The company has a quick ratio of 3.78, a current ratio of 3.78 and a debt-to-equity ratio of 5.27.

Industrial Logistics Properties Trust (NASDAQ:ILPT) last announced its quarterly earnings results 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 company had revenue of $116.81 million for the quarter, compared to analyst estimates of $117.48 million. On average, sell-side analysts anticipate that Industrial Logistics Properties Trust will post 1.26 earnings per share for the current fiscal year.

Industrial Logistics Properties Trust Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 12th. Investors of record on Monday, October 19th were given a dividend of $0.10 per share. The ex-dividend date was Monday, October 19th. This represents a $0.40 dividend on an annualized basis and a yield of 6.6%. Industrial Logistics Properties Trust’s payout ratio is currently -47.06%.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. Wall Street Zen cut Industrial Logistics Properties Trust from a “hold” rating to a “sell” rating in a report on Saturday. Zacks Research lowered Industrial Logistics Properties Trust from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, October 28th. Loop Capital set a $11.50 price target on Industrial Logistics Properties Trust in a report on Wednesday, July 22nd. Weiss Ratings restated a “sell (d)” rating on shares of Industrial Logistics Properties Trust in a report on Wednesday, October 28th. Finally, B. Riley Financial lowered their price objective on Industrial Logistics Properties Trust from $11.00 to $10.00 and set a “buy” rating for the company in a research note on Monday, November 2nd. Two analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $10.50.

Hedge Funds Weigh In On Industrial Logistics Properties Trust

A number of hedge funds have recently modified their holdings of ILPT. SteelPeak Wealth LLC acquired a new stake in Industrial Logistics Properties Trust in the first quarter valued at $57,000. Royal Bank of Canada raised its position in Industrial Logistics Properties Trust by 72.8% during the 1st quarter. Royal Bank of Canada now owns 11,361 shares of the company’s stock worth $64,000 after purchasing an additional 4,788 shares during the last quarter. State of Wyoming raised its position in Industrial Logistics Properties Trust by 17.9% during the 1st quarter. State of Wyoming now owns 14,469 shares of the company’s stock worth $82,000 after purchasing an additional 2,194 shares during the last quarter. US Asset Management LLC acquired a new position in Industrial Logistics Properties Trust during the 3rd quarter worth about $230,000. Finally, Ieq Capital LLC acquired a new position in Industrial Logistics Properties Trust during the 3rd quarter worth about $230,000. Institutional investors and hedge funds own 49.08% of the company’s stock.

Industrial Logistics Properties Trust Company Profile

Industrial Logistics Properties Trust is a real estate investment trust that owns and leases industrial and logistics properties, including warehouses and distribution facilities. Its properties support activities such as storage, shipping and product distribution. The trust’s portfolio serves tenants across the United States, including in Hawaii. Its properties are generally positioned to support regional and national supply chains. Formed in 2017, Industrial Logistics Properties Trust is externally managed by The RMR Group, a real estate management company.