Industrial Logistics Properties Trust (NASDAQ:ILPT) Upgraded by Zacks Investment Research to Hold

Zacks Investment Research upgraded shares of Industrial Logistics Properties Trust (NASDAQ:ILPT) from a sell rating to a hold rating in a report issued on Thursday morning, Zacks.com reports.

According to Zacks, “Industrial Logistics Properties Trust is focused on the ownership and leasing of industrial and logistics properties primarily in the United States. The Company’s properties include Hawaii properties, Mainland properties’ leases, Hawaii properties’ leases and Mainland properties. Industrial Logistics Properties Trust is based in NEWTON, United States. “

Separately, Bank of America downgraded shares of Industrial Logistics Properties Trust from a neutral rating to an underperform rating in a research note on Friday, January 3rd.

Shares of Industrial Logistics Properties Trust stock traded up $0.09 on Thursday, hitting $23.01. 355,222 shares of the company traded hands, compared to its average volume of 435,258. The stock’s 50 day moving average price is $21.83 and its 200-day moving average price is $21.48. The company has a current ratio of 2.66, a quick ratio of 2.66 and a debt-to-equity ratio of 1.39. Industrial Logistics Properties Trust has a 52 week low of $18.03 and a 52 week high of $23.16. The company has a market cap of $1.49 billion, a PE ratio of 25.29, a PEG ratio of 3.30 and a beta of 0.93.

Industrial Logistics Properties Trust (NASDAQ:ILPT) last posted its quarterly earnings results on Tuesday, October 29th. The company reported $0.17 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.43 by ($0.26). Industrial Logistics Properties Trust had a net margin of 28.27% and a return on equity of 5.80%. The company had revenue of $60.96 million for the quarter, compared to the consensus estimate of $60.53 million. As a group, research analysts anticipate that Industrial Logistics Properties Trust will post 1.75 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, February 20th. Stockholders of record on Monday, January 27th will be given a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 5.74%. The ex-dividend date is Friday, January 24th. Industrial Logistics Properties Trust’s payout ratio is 81.99%.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Barclays PLC lifted its stake in shares of Industrial Logistics Properties Trust by 3.9% during the 3rd quarter. Barclays PLC now owns 46,657 shares of the company’s stock worth $992,000 after purchasing an additional 1,765 shares during the last quarter. Pacer Advisors Inc. lifted its stake in shares of Industrial Logistics Properties Trust by 181.8% during the 3rd quarter. Pacer Advisors Inc. now owns 49,637 shares of the company’s stock worth $1,055,000 after purchasing an additional 32,020 shares during the last quarter. Rhumbline Advisers lifted its stake in shares of Industrial Logistics Properties Trust by 8.7% during the 3rd quarter. Rhumbline Advisers now owns 112,584 shares of the company’s stock worth $2,392,000 after purchasing an additional 9,004 shares during the last quarter. Pensionfund DSM Netherlands purchased a new stake in shares of Industrial Logistics Properties Trust during the 3rd quarter worth $2,903,000. Finally, State of New Jersey Common Pension Fund D lifted its stake in shares of Industrial Logistics Properties Trust by 50.7% during the 3rd quarter. State of New Jersey Common Pension Fund D now owns 254,000 shares of the company’s stock worth $5,397,000 after purchasing an additional 85,500 shares during the last quarter. Hedge funds and other institutional investors own 88.25% of the company’s stock.

About Industrial Logistics Properties Trust

Industrial Logistics Properties Trust is a real estate investment trust, or REIT, that owns and leases industrial and logistics properties throughout the United States. ILPT is managed by the operating subsidiary of The RMR Group Inc (Nasdaq: RMR), an alternative asset management company that is headquartered in Newton, MA.

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