Industrial Logistics Properties Trust (NASDAQ:ILPT – Get Free Report)’s share price hit a new 52-week high on Monday . The stock traded as high as $8.30 and last traded at $8.04, with a volume of 73661 shares traded. The stock had previously closed at $8.15.
Analysts Set New Price Targets
A number of research analysts recently weighed in on the stock. Loop Capital set a $7.40 target price on shares of Industrial Logistics Properties Trust in a research note on Tuesday, March 3rd. Weiss Ratings restated a “sell (d)” rating on shares of Industrial Logistics Properties Trust in a research note on Monday, April 27th. B. Riley Financial restated a “buy” rating on shares of Industrial Logistics Properties Trust in a research note on Thursday, April 23rd. Finally, Zacks Research cut shares of Industrial Logistics Properties Trust from a “strong-buy” rating to a “hold” rating in a research note on Friday, May 1st. One research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $7.40.
Read Our Latest Report on Industrial Logistics Properties Trust
Industrial Logistics Properties Trust Stock Performance
Industrial Logistics Properties Trust (NASDAQ:ILPT – Get Free Report) last announced its quarterly earnings results on Wednesday, April 29th. The company reported ($0.14) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.20) by $0.06. The company had revenue of $116.42 million for the quarter, compared to the consensus estimate of $114.82 million. Industrial Logistics Properties Trust had a negative net margin of 11.93% and a negative return on equity of 5.93%. As a group, equities analysts anticipate that Industrial Logistics Properties Trust will post 1.34 earnings per share for the current fiscal year.
Industrial Logistics Properties Trust Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Thursday, May 14th. Shareholders of record on Tuesday, April 21st will be issued a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date is Tuesday, April 21st. Industrial Logistics Properties Trust’s payout ratio is currently -24.39%.
Institutional Trading of Industrial Logistics Properties Trust
A number of large investors have recently made changes to their positions in the business. SteelPeak Wealth LLC bought a new stake in shares of Industrial Logistics Properties Trust in the 1st quarter worth about $57,000. D.A. Davidson & CO. boosted its stake in shares of Industrial Logistics Properties Trust by 31.1% during the 1st quarter. D.A. Davidson & CO. now owns 126,600 shares of the company’s stock worth $719,000 after purchasing an additional 30,000 shares during the period. Bank of New York Mellon Corp boosted its stake in shares of Industrial Logistics Properties Trust by 5.4% during the 1st quarter. Bank of New York Mellon Corp now owns 191,998 shares of the company’s stock worth $1,091,000 after purchasing an additional 9,915 shares during the period. Hillsdale Investment Management Inc. boosted its stake in shares of Industrial Logistics Properties Trust by 4.7% during the 1st quarter. Hillsdale Investment Management Inc. now owns 66,300 shares of the company’s stock worth $377,000 after purchasing an additional 3,000 shares during the period. Finally, Inspire Investing LLC boosted its stake in shares of Industrial Logistics Properties Trust by 16.3% during the 1st quarter. Inspire Investing LLC now owns 265,173 shares of the company’s stock worth $1,506,000 after purchasing an additional 37,176 shares during the period. 49.08% of the stock is currently owned by institutional investors.
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.
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