Stock analysts at Colliers Securities initiated coverage on shares of INDUS Realty Trust (NASDAQ:INDT – Get Rating) in a research note issued on Tuesday, Briefing.com reports. The firm set a “neutral” rating and a $70.00 price target on the stock. Colliers Securities’ target price indicates a potential upside of 10.78% from the company’s current price.
Several other research analysts have also weighed in on INDT. JMP Securities lowered their target price on shares of INDUS Realty Trust from $85.00 to $81.00 and set a “market outperform” rating for the company in a research note on Wednesday, May 18th. BTIG Research increased their price objective on shares of INDUS Realty Trust from $74.00 to $91.00 in a research report on Tuesday, January 25th. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $80.50.
Shares of INDT stock opened at $63.19 on Tuesday. INDUS Realty Trust has a twelve month low of $61.36 and a twelve month high of $82.94. The company’s 50-day moving average price is $71.27 and its 200-day moving average price is $74.74. The stock has a market cap of $643.65 million, a price-to-earnings ratio of 46.46 and a beta of 0.84.
In related news, major shareholder Ccp Sbs Gp, Llc acquired 7,127 shares of INDUS Realty Trust stock in a transaction dated Wednesday, May 4th. The shares were acquired at an average cost of $71.51 per share, for a total transaction of $509,651.77. Following the completion of the purchase, the insider now owns 733,474 shares in the company, valued at $52,450,725.74. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Over the last quarter, insiders have acquired 118,497 shares of company stock worth $8,570,830. 18.70% of the stock is owned by company insiders.
Several large investors have recently made changes to their positions in INDT. Goldman Sachs Group Inc. lifted its stake in INDUS Realty Trust by 25.9% during the third quarter. Goldman Sachs Group Inc. now owns 23,736 shares of the company’s stock worth $1,664,000 after purchasing an additional 4,879 shares during the last quarter. Moors & Cabot Inc. purchased a new stake in shares of INDUS Realty Trust during the 3rd quarter worth approximately $719,000. Daiwa Securities Group Inc. boosted its holdings in shares of INDUS Realty Trust by 66.7% in the 4th quarter. Daiwa Securities Group Inc. now owns 1,857 shares of the company’s stock valued at $151,000 after buying an additional 743 shares in the last quarter. Metropolitan Life Insurance Co NY purchased a new position in shares of INDUS Realty Trust in the 3rd quarter valued at $104,000. Finally, Geode Capital Management LLC raised its stake in INDUS Realty Trust by 1.9% during the 3rd quarter. Geode Capital Management LLC now owns 84,218 shares of the company’s stock worth $5,903,000 after acquiring an additional 1,547 shares in the last quarter. 66.78% of the stock is currently owned by institutional investors.
About INDUS Realty Trust (Get Rating)
INDUS Realty Trust, Inc is a real estate business principally engaged in developing, acquiring, managing and leasing industrial/warehouse properties. INDUS owns 41 buildings totaling approximately 4.6 million square feet (4.2 million of which is industrial/warehouse space) in Connecticut, Pennsylvania, North Carolina and Florida in addition to over 3,400 acres of undeveloped land.
- Get a free copy of the StockNews.com research report on INDUS Realty Trust (INDT)
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