Industrial Logistics Properties Trust (NASDAQ:ILPT – Get Free Report) announced a quarterly dividend on Thursday, October 8th. Investors of record on Monday, October 19th will be given a dividend of $0.10 per share on Thursday, November 12th. This represents a $0.40 annualized dividend and a dividend yield of 5.6%. The ex-dividend date of this dividend is Monday, October 19th.
Industrial Logistics Properties Trust has decreased its dividend payment by an average of 0.4% annually over the last three years. Industrial Logistics Properties Trust has a dividend payout ratio of -35.1% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect Industrial Logistics Properties Trust to earn $1.56 per share next year, which means the company should continue to be able to cover its $0.40 annual dividend with an expected future payout ratio of 25.6%.
Industrial Logistics Properties Trust Price Performance
Shares of ILPT stock opened at $7.14 on Friday. Industrial Logistics Properties Trust has a 1-year low of $4.92 and a 1-year high of $9.43. The company has a debt-to-equity ratio of 4.97, a current ratio of 4.11 and a quick ratio of 4.11. The firm has a fifty day moving average of $8.02 and a two-hundred day moving average of $7.92. The firm has a market cap of $476.60 million, a P/E ratio of -9.92 and a beta of 2.54.
Hedge Funds Weigh In On Industrial Logistics Properties Trust
A number of institutional investors have recently made changes to their positions in the business. Sequoia Financial Advisors LLC increased its stake in Industrial Logistics Properties Trust by 24.4% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 38,432 shares of the company’s stock valued at $341,000 after buying an additional 7,538 shares during the period. Bank of New York Mellon Corp acquired a new stake in Industrial Logistics Properties Trust in the 2nd quarter valued at about $1,758,000. Empowered Funds LLC bought a new stake in Industrial Logistics Properties Trust in the first quarter valued at about $265,000. Bank of America Corp DE boosted its stake in Industrial Logistics Properties Trust by 23.6% in the 1st quarter. Bank of America Corp DE now owns 51,792 shares of the company’s stock worth $294,000 after purchasing an additional 9,898 shares during the period. Finally, Royal Bank of Canada raised its holdings in shares of Industrial Logistics Properties Trust by 72.8% in the 1st quarter. Royal Bank of Canada now owns 11,361 shares of the company’s stock valued at $64,000 after purchasing an additional 4,788 shares during the period. 49.08% of the stock is owned by institutional investors and hedge funds.
About Industrial Logistics Properties Trust
Industrial Logistics Properties Trust (NASDAQ: ILPT) is a real estate investment trust that owns and leases industrial and logistics properties in the United States. Its portfolio includes distribution centers, warehouses, service facilities and other properties used for supply-chain, transportation and industrial operations.
The company generally leases properties to business tenants under long-term agreements, with a focus on facilities that support e-commerce, distribution, logistics and related commercial activities.
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