Industrial Logistics Properties Trust (NASDAQ:ILPT) Stock Rating Lowered by Zacks Research

Industrial Logistics Properties Trust (NASDAQ:ILPT) was downgraded by equities researchers at Zacks Research from a “strong-buy” rating to a “hold” rating in a report issued on Wednesday,Zacks.com reports.

Several other brokerages have also recently weighed in on ILPT. Wall Street Zen upgraded Industrial Logistics Properties Trust from a “hold” rating to a “buy” rating in a report on Saturday, May 23rd. Weiss Ratings lowered Industrial Logistics Properties Trust from a “sell (d)” rating to a “sell (d-)” rating in a report on Thursday, May 28th. Loop Capital set a $11.50 price target on Industrial Logistics Properties Trust in a research report on Wednesday. Finally, B. Riley Financial restated a “buy” rating on shares of Industrial Logistics Properties Trust in a research note on Thursday, April 23rd. One investment analyst has rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $11.50.

Industrial Logistics Properties Trust Stock Up 0.7%

Industrial Logistics Properties Trust stock opened at $9.19 on Wednesday. The company has a market cap of $612.70 million, a P/E ratio of -11.21 and a beta of 2.50. Industrial Logistics Properties Trust has a 1-year low of $4.92 and a 1-year high of $9.37. The company has a fifty day simple moving average of $8.74 and a 200 day simple moving average of $7.04. 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 issued its quarterly earnings results on Wednesday, April 29th. The company reported ($0.14) earnings per share (EPS) for the quarter, beating the consensus estimate 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. Research analysts anticipate that Industrial Logistics Properties Trust will post 1.34 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Strs Ohio bought a new stake in shares of Industrial Logistics Properties Trust in the 1st quarter valued at about $42,000. Rhumbline Advisers lifted its stake in Industrial Logistics Properties Trust by 16.3% in the 2nd quarter. Rhumbline Advisers now owns 95,564 shares of the company’s stock valued at $435,000 after purchasing an additional 13,418 shares during the last quarter. XTX Topco Ltd bought a new position in Industrial Logistics Properties Trust during the second quarter worth about $200,000. Marshall Wace LLP grew its holdings in Industrial Logistics Properties Trust by 163.9% during the second quarter. Marshall Wace LLP now owns 84,725 shares of the company’s stock worth $385,000 after purchasing an additional 52,623 shares during the period. Finally, Jump Financial LLC bought a new position in Industrial Logistics Properties Trust during the second quarter worth about $188,000. 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.