Renaissance Technologies LLC Purchases 171,689 Shares of Industrial Logistics Properties Trust $ILPT

Renaissance Technologies LLC lifted its position in Industrial Logistics Properties Trust (NASDAQ:ILPT) by 59.8% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 458,989 shares of the company’s stock after buying an additional 171,689 shares during the quarter. Renaissance Technologies LLC’s holdings in Industrial Logistics Properties Trust were worth $2,607,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of the company. Strs Ohio bought a new position in Industrial Logistics Properties Trust in the 1st quarter worth $42,000. Rhumbline Advisers increased its stake in shares of Industrial Logistics Properties Trust by 16.3% in the second quarter. Rhumbline Advisers now owns 95,564 shares of the company’s stock worth $435,000 after purchasing an additional 13,418 shares during the period. XTX Topco Ltd bought a new position in shares of Industrial Logistics Properties Trust in the second quarter worth about $200,000. Marshall Wace LLP increased its stake in shares of Industrial Logistics Properties Trust by 163.9% in the second quarter. Marshall Wace LLP now owns 84,725 shares of the company’s stock worth $385,000 after purchasing an additional 52,623 shares during the period. Finally, Jump Financial LLC acquired a new position in shares of Industrial Logistics Properties Trust during the 2nd quarter worth about $188,000. 49.08% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several brokerages recently weighed in on ILPT. B. Riley Financial restated a “buy” rating on shares of Industrial Logistics Properties Trust in a research note on Thursday, April 23rd. Weiss Ratings upgraded Industrial Logistics Properties Trust from a “sell (d-)” rating to a “sell (d)” rating in a report on Thursday, July 30th. Zacks Research downgraded shares of Industrial Logistics Properties Trust from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 22nd. Loop Capital set a $11.50 target price on shares of Industrial Logistics Properties Trust in a research report on Wednesday, July 22nd. Finally, Wall Street Zen cut shares of Industrial Logistics Properties Trust from a “buy” rating to a “hold” rating in a research note on Saturday, August 1st. One research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Industrial Logistics Properties Trust presently has a consensus rating of “Hold” and an average target price of $11.50.

Industrial Logistics Properties Trust Price Performance

NASDAQ ILPT opened at $8.78 on Monday. Industrial Logistics Properties Trust has a twelve month low of $4.92 and a twelve month high of $9.43. The stock has a market cap of $586.07 million, a PE ratio of -12.19 and a beta of 2.49. The firm has a 50-day simple moving average of $8.80 and a 200 day simple moving average of $7.26. The company has a debt-to-equity ratio of 4.97, a quick ratio of 4.11 and a current ratio of 4.11.

Industrial Logistics Properties Trust (NASDAQ:ILPT) last issued its quarterly earnings results on Wednesday, July 29th. The company reported ($0.22) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.19) by ($0.03). The firm had revenue of $114.12 million for the quarter, compared to the consensus estimate of $116.10 million. Industrial Logistics Properties Trust had a negative net margin of 10.37% and a negative return on equity of 5.34%. On average, research analysts forecast that Industrial Logistics Properties Trust will post 1.34 EPS for the current year.

Industrial Logistics Properties Trust Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 13th. Stockholders of record on Monday, July 20th will be given a dividend of $0.10 per share. This is a boost 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%. The ex-dividend date is Monday, July 20th. Industrial Logistics Properties Trust’s dividend payout ratio (DPR) is presently -55.56%.

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.