Industrial Logistics Properties Trust (NASDAQ:ILPT) Shares Gap Down on Disappointing Earnings

Industrial Logistics Properties Trust (NASDAQ:ILPTGet Free Report)’s stock price gapped down before the market opened on Thursday following a dissappointing earnings announcement. The stock had previously closed at $8.73, but opened at $8.07. Industrial Logistics Properties Trust shares last traded at $8.2940, with a volume of 73,662 shares trading hands.

The company reported ($0.22) EPS for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.03). Industrial Logistics Properties Trust had a negative net margin of 10.37% and a negative return on equity of 5.34%. The firm had revenue of $114.12 million during the quarter, compared to analysts’ expectations of $116.10 million.

Industrial Logistics Properties Trust Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 13th. Investors of record on Monday, July 20th will be paid a dividend of $0.10 per share. The ex-dividend date is Monday, July 20th. This is an increase from Industrial Logistics Properties Trust’s previous quarterly dividend of $0.05. This represents a $0.40 dividend on an annualized basis and a dividend yield of 4.6%. Industrial Logistics Properties Trust’s payout ratio is presently -55.56%.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on ILPT. Loop Capital set a $11.50 price target on Industrial Logistics Properties Trust in a research note on Wednesday, July 22nd. Zacks Research cut Industrial Logistics Properties Trust from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 22nd. Weiss Ratings upgraded Industrial Logistics Properties Trust from a “sell (d-)” rating to a “sell (d)” rating in a report on Thursday. Wall Street Zen lowered Industrial Logistics Properties Trust from a “buy” rating to a “hold” rating in a research report on Saturday. Finally, B. Riley Financial restated a “buy” rating on shares of Industrial Logistics Properties Trust in a research note on Thursday, April 23rd. One investment analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Industrial Logistics Properties Trust has an average rating of “Hold” and an average price target of $11.50.

Get Our Latest Stock Analysis on ILPT

Institutional Investors Weigh In On Industrial Logistics Properties Trust

A number of institutional investors and hedge funds have recently bought and sold shares of ILPT. Quarry LP acquired a new position in Industrial Logistics Properties Trust in the third quarter valued at $28,000. Advisory Services Network LLC acquired a new stake in shares of Industrial Logistics Properties Trust during the third quarter worth about $34,000. Royal Bank of Canada increased its position in shares of Industrial Logistics Properties Trust by 387.2% during 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 in the last quarter. Strs Ohio acquired a new stake in shares of Industrial Logistics Properties Trust during the first quarter worth about $42,000. Finally, Retirement Planning Co of New England Inc. purchased a new stake in shares of Industrial Logistics Properties Trust in the 4th quarter valued at about $56,000. 49.08% of the stock is owned by hedge funds and other institutional investors.

Industrial Logistics Properties Trust Price Performance

The firm has a market capitalization of $574.72 million, a PE ratio of -11.96 and a beta of 2.50. The company has a current ratio of 4.11, a quick ratio of 4.24 and a debt-to-equity ratio of 4.97. The company has a fifty day moving average price of $8.80 and a two-hundred day moving average price of $7.15.

About Industrial Logistics Properties Trust

(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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