Industrial Logistics Properties Trust (NASDAQ:ILPT) Issues Quarterly Earnings Results, Misses Estimates By $0.03 EPS

Industrial Logistics Properties Trust (NASDAQ:ILPT) announced its earnings results on Wednesday. The company reported ($0.22) earnings per share for the quarter, missing the consensus estimate of ($0.19) by ($0.03), FiscalAI reports. The firm had revenue of $114.12 million during the quarter, compared to analyst estimates of $116.10 million. Industrial Logistics Properties Trust had a negative net margin of 11.93% and a negative return on equity of 5.93%.

Industrial Logistics Properties Trust Trading Down 3.5%

ILPT traded down $0.32 during midday trading on Wednesday, hitting $8.73. The company’s stock had a trading volume of 341,017 shares, compared to its average volume of 414,522. The company has a current ratio of 4.24, a quick ratio of 4.24 and a debt-to-equity ratio of 4.74. The firm has a market cap of $582.36 million, a P/E ratio of -10.65 and a beta of 2.50. The firm has a 50-day moving average price of $8.80 and a two-hundred day moving average price of $7.11. Industrial Logistics Properties Trust has a 52-week low of $4.92 and a 52-week high of $9.43.

Industrial Logistics Properties Trust Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 13th. Shareholders of record on Monday, July 20th will be issued a $0.10 dividend. This is a positive change from Industrial Logistics Properties Trust’s previous quarterly dividend of $0.05. The ex-dividend date is Monday, July 20th. This represents a $0.40 annualized dividend and a yield of 4.6%. Industrial Logistics Properties Trust’s dividend payout ratio (DPR) is presently -48.78%.

Analyst Ratings Changes

A number of equities research analysts have recently commented on ILPT shares. Zacks Research downgraded shares of Industrial Logistics Properties Trust from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 22nd. 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 $11.50 target price on shares of Industrial Logistics Properties Trust in a research report on Wednesday, July 22nd. Weiss Ratings cut shares of Industrial Logistics Properties Trust from a “sell (d)” rating to a “sell (d-)” rating in a research note on Thursday, May 28th. Finally, Wall Street Zen upgraded Industrial Logistics Properties Trust from a “hold” rating to a “buy” rating in a report on Saturday, May 23rd. One research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Industrial Logistics Properties Trust currently has a consensus rating of “Hold” and a consensus price target of $11.50.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Quarry LP acquired a new stake in shares of Industrial Logistics Properties Trust in the third quarter worth approximately $28,000. Advisory Services Network LLC acquired a new position in Industrial Logistics Properties Trust during the third quarter worth approximately $34,000. Royal Bank of Canada increased its position in 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 during the last quarter. Strs Ohio purchased a new position in Industrial Logistics Properties Trust during the first quarter worth approximately $42,000. Finally, State of Wyoming purchased a new position in Industrial Logistics Properties Trust during the fourth quarter worth approximately $68,000. 49.08% of the stock is currently owned by hedge funds and other institutional investors.

About Industrial Logistics Properties Trust

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.