Kevin Phelan Acquires 2,000 Shares of Industrial Logistics Properties Trust (NASDAQ:ILPT) Stock

Industrial Logistics Properties Trust (NASDAQ:ILPT) Director Kevin Phelan bought 2,000 shares of the firm’s stock in a transaction on Friday, May 22nd. The shares were acquired at an average price of $8.87 per share, for a total transaction of $17,740.00. Following the transaction, the director owned 7,500 shares in the company, valued at approximately $66,525. This represents a 36.36% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Industrial Logistics Properties Trust Stock Performance

Shares of NASDAQ:ILPT opened at $8.90 on Friday. The company’s 50 day moving average price is $6.90 and its two-hundred day moving average price is $6.11. Industrial Logistics Properties Trust has a 12-month low of $3.18 and a 12-month high of $9.03. The firm has a market cap of $593.36 million, a PE ratio of -10.85 and a beta of 2.47. The company has a quick ratio of 4.24, a current ratio of 4.24 and a debt-to-equity ratio of 4.74.

Industrial Logistics Properties Trust (NASDAQ:ILPT) last announced its earnings results on Wednesday, April 29th. The company reported ($0.14) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.20) by $0.06. Industrial Logistics Properties Trust had a negative net margin of 11.93% and a negative return on equity of 5.93%. The firm had revenue of $116.42 million for the quarter, compared to analyst estimates of $114.82 million. Equities research analysts predict that Industrial Logistics Properties Trust will post 1.34 earnings per share for the current year.

Industrial Logistics Properties Trust Announces Dividend

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

Institutional Trading of Industrial Logistics Properties Trust

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Quarry LP bought a new position in Industrial Logistics Properties Trust in the 3rd quarter valued at approximately $28,000. Advisory Services Network LLC acquired a new stake in Industrial Logistics Properties Trust in the third quarter valued at approximately $34,000. Royal Bank of Canada boosted its position in 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 buying an additional 5,224 shares in the last quarter. SteelPeak Wealth LLC acquired a new stake in Industrial Logistics Properties Trust in the first quarter valued at approximately $57,000. Finally, Retirement Planning Co of New England Inc. acquired a new stake in Industrial Logistics Properties Trust in the fourth quarter valued at approximately $56,000. Institutional investors own 49.08% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on ILPT. Zacks Research lowered shares of Industrial Logistics Properties Trust from a “strong-buy” rating to a “hold” rating in a research report on Friday, May 1st. 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. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Industrial Logistics Properties Trust in a report on Monday, April 27th. B. Riley Financial reaffirmed a “buy” rating on shares of Industrial Logistics Properties Trust in a report on Thursday, April 23rd. Finally, Loop Capital set a $7.40 price target on shares of Industrial Logistics Properties Trust in a report on Tuesday, March 3rd. One equities research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Industrial Logistics Properties Trust presently has a consensus rating of “Hold” and a consensus target price of $7.40.

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.