Industrial Logistics Properties Trust (NASDAQ:ILPT) Stock Gets Price Target Reduction from Freedom Broker

Industrial Logistics Properties Trust (NASDAQ:ILPT) had its target price reduced by Freedom Broker from $11.00 to $10.00 in a report released on Tuesday morning,Benzinga reports. They currently have a buy rating on the stock.

Other analysts also recently issued research reports about the stock. B. Riley Financial cut their price target on shares of Industrial Logistics Properties Trust from $11.00 to $10.00 and set a “buy” rating for the company in a report on Monday. Wall Street Zen cut Industrial Logistics Properties Trust from a “buy” rating to a “hold” rating in a research note on Saturday, August 1st. Zacks Research downgraded Industrial Logistics Properties Trust from a “strong-buy” rating to a “hold” rating in a report on Wednesday, October 28th. Loop Capital set a $11.50 price objective on Industrial Logistics Properties Trust in a research report on Wednesday, July 22nd. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Industrial Logistics Properties Trust in a research note on Wednesday, October 28th. Two investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $10.50.

Industrial Logistics Properties Trust Stock Down 6.4%

Shares of NASDAQ ILPT opened at $6.03 on Tuesday. The company has a debt-to-equity ratio of 5.27, a quick ratio of 3.78 and a current ratio of 3.78. Industrial Logistics Properties Trust has a 52 week low of $5.01 and a 52 week high of $9.43. The stock has a market capitalization of $403.89 million, a P/E ratio of 5.15 and a beta of 2.55. The stock’s fifty day moving average is $7.35 and its 200 day moving average is $7.37.

Industrial Logistics Properties Trust (NASDAQ:ILPT) last posted its quarterly earnings data on Wednesday, October 28th. The company reported ($0.46) earnings per share for the quarter, missing the consensus estimate of ($0.14) by ($0.32). The firm had revenue of $116.81 million for the quarter, compared to the consensus estimate of $117.48 million. Industrial Logistics Properties Trust had a negative return on equity of 6.54% and a negative net margin of 12.12%. Sell-side analysts forecast 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 declared a quarterly dividend, which will be paid on Thursday, November 12th. Stockholders of record on Monday, October 19th will be paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 6.6%. The ex-dividend date is Monday, October 19th. Industrial Logistics Properties Trust’s dividend payout ratio is presently -47.06%.

Institutional Investors Weigh In On Industrial Logistics Properties Trust

Hedge funds and other institutional investors have recently bought and sold shares of the company. Renaissance Technologies LLC raised its holdings in Industrial Logistics Properties Trust by 59.8% in the 1st quarter. Renaissance Technologies LLC now owns 458,989 shares of the company’s stock valued at $2,607,000 after buying an additional 171,689 shares during the last quarter. Bank of New York Mellon Corp acquired a new stake in Industrial Logistics Properties Trust during the 2nd quarter worth approximately $1,758,000. Arrowstreet Capital Limited Partnership acquired a new stake in Industrial Logistics Properties Trust during the 1st quarter worth approximately $1,243,000. Public Employees Retirement System of Ohio grew its holdings in Industrial Logistics Properties Trust by 240.6% during the 1st quarter. Public Employees Retirement System of Ohio now owns 63,384 shares of the company’s stock worth $360,000 after acquiring an additional 44,772 shares during the last quarter. Finally, Bank of America Corp DE grew its holdings in Industrial Logistics Properties Trust by 23.6% during the 1st quarter. Bank of America Corp DE now owns 51,792 shares of the company’s stock worth $294,000 after acquiring an additional 9,898 shares during the last quarter. Institutional investors own 49.08% of the company’s stock.

Industrial Logistics Properties Trust Company Profile

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.