Union Square Park Capital Management LLC Sells 167,162 Shares of Industrial Logistics Properties Trust $ILPT

Union Square Park Capital Management LLC lessened its position in Industrial Logistics Properties Trust (NASDAQ:ILPT) by 18.0% in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 762,838 shares of the company’s stock after selling 167,162 shares during the quarter. Industrial Logistics Properties Trust makes up about 2.5% of Union Square Park Capital Management LLC’s holdings, making the stock its 6th biggest holding. Union Square Park Capital Management LLC owned 1.14% of Industrial Logistics Properties Trust worth $4,333,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in ILPT. Quarry LP purchased a new position in Industrial Logistics Properties Trust during the 3rd quarter worth approximately $28,000. Advisory Services Network LLC purchased a new stake in shares of Industrial Logistics Properties Trust in the third quarter valued at $34,000. Royal Bank of Canada boosted its position in shares of 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 buying an additional 5,224 shares during the period. SteelPeak Wealth LLC acquired a new stake in shares of Industrial Logistics Properties Trust in the first quarter worth $57,000. Finally, Retirement Planning Co of New England Inc. acquired a new position in Industrial Logistics Properties Trust during the fourth quarter valued at $56,000. Institutional investors and hedge funds own 49.08% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the company. Zacks Research downgraded Industrial Logistics Properties Trust from a “strong-buy” rating to a “hold” rating in a research note on Wednesday. Wall Street Zen upgraded Industrial Logistics Properties Trust from a “hold” rating to a “buy” rating in a report on Saturday, May 23rd. Loop Capital set a $11.50 price target on shares of Industrial Logistics Properties Trust in a research report on Wednesday. B. Riley Financial restated a “buy” rating on shares of Industrial Logistics Properties Trust in a report on Thursday, April 23rd. Finally, Weiss Ratings downgraded shares of Industrial Logistics Properties Trust from a “sell (d)” rating to a “sell (d-)” rating in a research report on Thursday, May 28th. One equities research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Industrial Logistics Properties Trust has an average rating of “Hold” and an average price target of $11.50.

Industrial Logistics Properties Trust Stock Up 0.1%

Shares of Industrial Logistics Properties Trust stock opened at $9.20 on Friday. The firm has a market cap of $613.36 million, a price-to-earnings ratio of -11.22 and a beta of 2.50. The company has a debt-to-equity ratio of 4.74, a current ratio of 4.24 and a quick ratio of 4.24. Industrial Logistics Properties Trust has a 52-week low of $4.92 and a 52-week high of $9.43. The stock has a 50-day simple moving average of $8.77 and a 200-day simple moving average of $7.05.

Industrial Logistics Properties Trust (NASDAQ:ILPT) last released its quarterly earnings data on Wednesday, April 29th. The company reported ($0.14) EPS for the quarter, topping analysts’ consensus estimates of ($0.20) by $0.06. The firm 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 return on equity of 5.93% and a negative net margin of 11.93%. On average, equities research analysts expect that Industrial Logistics Properties Trust will post 1.34 earnings per share for the current fiscal year.

Industrial Logistics Properties Trust Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 13th. Shareholders of record on Monday, July 20th will be given a $0.10 dividend. This is a positive change from Industrial Logistics Properties Trust’s previous quarterly dividend of $0.05. This represents a $0.40 annualized dividend and a yield of 4.3%. The ex-dividend date of this dividend is Monday, July 20th. Industrial Logistics Properties Trust’s payout ratio is presently -48.78%.

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.