Industrial Logistics Properties Trust (NASDAQ:ILPT) Rating Lowered to Hold at Zacks Research

Industrial Logistics Properties Trust (NASDAQ:ILPT) was downgraded by Zacks Research from a “strong-buy” rating to a “hold” rating in a report released on Thursday,Zacks.com reports.

Separately, Weiss Ratings reiterated a “sell (d)” rating on shares of Industrial Logistics Properties Trust in a research note on Wednesday. One research analyst has rated the stock with a Strong Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $5.00.

Industrial Logistics Properties Trust Stock Performance

Shares of ILPT opened at $5.33 on Thursday. The stock has a market capitalization of $355.30 million, a PE ratio of -3.95 and a beta of 2.48. The business’s fifty day moving average price is $5.64 and its 200 day moving average price is $5.70. The company has a debt-to-equity ratio of 4.59, a current ratio of 3.53 and a quick ratio of 3.53. Industrial Logistics Properties Trust has a 12-month low of $2.45 and a 12-month high of $6.57.

Industrial Logistics Properties Trust (NASDAQ:ILPT) last released its earnings results on Tuesday, October 28th. The company reported ($0.33) earnings per share for the quarter, missing the consensus estimate of $0.26 by ($0.59). Industrial Logistics Properties Trust had a negative net margin of 19.87% and a negative return on equity of 9.20%. The business had revenue of $110.94 million for the quarter, compared to the consensus estimate of $111.93 million.

Institutional Trading of Industrial Logistics Properties Trust

Several hedge funds have recently bought and sold shares of ILPT. Vanguard Group Inc. increased its position in shares of Industrial Logistics Properties Trust by 0.5% during the 3rd quarter. Vanguard Group Inc. now owns 3,244,244 shares of the company’s stock valued at $18,914,000 after purchasing an additional 15,006 shares during the period. Nantahala Capital Management LLC boosted its stake in Industrial Logistics Properties Trust by 27.9% during the second quarter. Nantahala Capital Management LLC now owns 3,206,219 shares of the company’s stock valued at $14,588,000 after buying an additional 699,975 shares in the last quarter. Millennium Management LLC boosted its stake in Industrial Logistics Properties Trust by 181.2% during the third quarter. Millennium Management LLC now owns 1,308,289 shares of the company’s stock valued at $7,627,000 after buying an additional 843,033 shares in the last quarter. Thrivent Financial for Lutherans grew its holdings in Industrial Logistics Properties Trust by 4.1% during the second quarter. Thrivent Financial for Lutherans now owns 686,801 shares of the company’s stock worth $3,125,000 after acquiring an additional 26,842 shares during the period. Finally, Gateway Wealth Partners LLC bought a new stake in Industrial Logistics Properties Trust in the third quarter worth about $3,224,000. 49.08% of the stock is currently owned by institutional investors.

Industrial Logistics Properties Trust Company Profile

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.