Industrial Logistics Properties Trust (NASDAQ:ILPT) Sets New 12-Month High – Here’s What Happened

Shares of Industrial Logistics Properties Trust (NASDAQ:ILPTGet Free Report) hit a new 52-week high during mid-day trading on Friday . The company traded as high as $9.35 and last traded at $9.28, with a volume of 2114725 shares changing hands. The stock had previously closed at $8.78.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. Wall Street Zen raised shares of Industrial Logistics Properties Trust from a “hold” rating to a “buy” rating in a report on Saturday, May 23rd. B. Riley Financial reissued a “buy” rating on shares of Industrial Logistics Properties Trust in a research note on Thursday, April 23rd. Loop Capital set a $7.40 target price on Industrial Logistics Properties Trust in a research report on Tuesday, March 3rd. Zacks Research upgraded Industrial Logistics Properties Trust from a “hold” rating to a “strong-buy” rating in a research note on Tuesday. Finally, Weiss Ratings cut Industrial Logistics Properties Trust from a “sell (d)” rating to a “sell (d-)” rating in a report on Thursday, May 28th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Industrial Logistics Properties Trust presently has an average rating of “Moderate Buy” and a consensus target price of $7.40.

View Our Latest Analysis on Industrial Logistics Properties Trust

Industrial Logistics Properties Trust Stock Up 5.7%

The company has a quick ratio of 4.24, a current ratio of 4.24 and a debt-to-equity ratio of 4.74. The stock has a 50-day simple moving average of $8.08 and a two-hundred day simple moving average of $6.56. The firm has a market cap of $618.65 million, a PE ratio of -11.32 and a beta of 2.50.

Industrial Logistics Properties Trust (NASDAQ:ILPTGet Free Report) last posted its quarterly earnings data on Wednesday, April 29th. The company reported ($0.14) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.20) by $0.06. The firm had revenue of $116.42 million during the quarter, compared to analysts’ expectations of $114.82 million. Industrial Logistics Properties Trust had a negative return on equity of 5.93% and a negative net margin of 11.93%. Analysts expect that Industrial Logistics Properties Trust will post 1.34 earnings per share for the current year.

Industrial Logistics Properties Trust Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, May 14th. Shareholders of record on Tuesday, April 21st were paid a $0.05 dividend. The ex-dividend date of this dividend was Tuesday, April 21st. This represents a $0.20 annualized dividend and a yield of 2.2%. Industrial Logistics Properties Trust’s dividend payout ratio is currently -24.39%.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Quarry LP purchased a new position in shares of Industrial Logistics Properties Trust during the third quarter worth approximately $28,000. Advisory Services Network LLC bought a new position in shares of Industrial Logistics Properties Trust during the 3rd quarter valued at $34,000. Royal Bank of Canada lifted its stake in Industrial Logistics Properties Trust by 387.2% in the fourth quarter. Royal Bank of Canada now owns 6,573 shares of the company’s stock worth $36,000 after purchasing an additional 5,224 shares during the last quarter. Strs Ohio bought a new stake in Industrial Logistics Properties Trust in the first quarter worth $42,000. Finally, Retirement Planning Co of New England Inc. purchased a new stake in Industrial Logistics Properties Trust during the fourth quarter valued at about $56,000. 49.08% of the stock is owned by hedge funds and other institutional investors.

Industrial Logistics Properties Trust Company Profile

(Get Free Report)

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.

Further Reading

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