Industrial Logistics Properties Trust (NASDAQ:ILPT) Reaches New 52-Week High – Here’s Why

Industrial Logistics Properties Trust (NASDAQ:ILPT)’s share price hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $8.30 and last traded at $8.2550, with a volume of 203529 shares. The stock had previously closed at $8.10.

Analysts Set New Price Targets

A number of research analysts recently issued reports on ILPT shares. Weiss Ratings reiterated a “sell (d)” rating on shares of Industrial Logistics Properties Trust in a research note on Monday, April 27th. Zacks Research downgraded shares of Industrial Logistics Properties Trust from a “strong-buy” rating to a “hold” rating in a research note on Friday, May 1st. B. Riley Financial reiterated a “buy” rating on shares of Industrial Logistics Properties Trust in a research note on Thursday, April 23rd. Finally, Loop Capital set a $7.40 price target on shares of Industrial Logistics Properties Trust in a research note on Tuesday, March 3rd. One research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $7.40.

Industrial Logistics Properties Trust Trading Up 2.0%

The company has a quick ratio of 4.24, a current ratio of 4.24 and a debt-to-equity ratio of 4.74. The business’s fifty day simple moving average is $6.51 and its two-hundred day simple moving average is $5.93. The company has a market cap of $550.69 million, a price-to-earnings ratio of -10.07 and a beta of 2.47.

Industrial Logistics Properties Trust (NASDAQ:ILPT) last released its quarterly earnings data on Wednesday, April 29th. The company reported ($0.14) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.20) by $0.06. Industrial Logistics Properties Trust had a negative net margin of 11.93% and a negative return on equity of 5.93%. The company had revenue of $116.42 million for the quarter, compared to analysts’ expectations of $114.82 million. On average, equities analysts predict that Industrial Logistics Properties Trust will post 1.34 EPS for the current year.

Industrial Logistics Properties Trust Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 14th. Shareholders of record on Tuesday, April 21st were issued a dividend of $0.05 per share. The ex-dividend date of this dividend was Tuesday, April 21st. This represents a $0.20 dividend on an annualized basis and a yield of 2.4%. Industrial Logistics Properties Trust’s dividend payout ratio (DPR) is presently -24.39%.

Hedge Funds Weigh In On Industrial Logistics Properties Trust

A number of institutional investors have recently modified their holdings of the business. Register Financial Advisors LLC increased its holdings in shares of Industrial Logistics Properties Trust by 4.2% in the 3rd quarter. Register Financial Advisors LLC now owns 49,509 shares of the company’s stock valued at $289,000 after acquiring an additional 2,012 shares during the period. State of Wyoming increased its holdings in shares of Industrial Logistics Properties Trust by 17.9% in the 1st quarter. State of Wyoming now owns 14,469 shares of the company’s stock valued at $82,000 after acquiring an additional 2,194 shares during the period. Deutsche Bank AG increased its holdings in shares of Industrial Logistics Properties Trust by 3.0% in the 4th quarter. Deutsche Bank AG now owns 85,843 shares of the company’s stock valued at $476,000 after acquiring an additional 2,496 shares during the period. Jain Global LLC increased its holdings in shares of Industrial Logistics Properties Trust by 17.3% in the 3rd quarter. Jain Global LLC now owns 16,975 shares of the company’s stock valued at $99,000 after acquiring an additional 2,500 shares during the period. Finally, Verition Fund Management LLC increased its holdings in shares of Industrial Logistics Properties Trust by 5.6% in the 3rd quarter. Verition Fund Management LLC now owns 53,861 shares of the company’s stock valued at $314,000 after acquiring an additional 2,845 shares during the period. 49.08% of the stock is owned by institutional investors and hedge funds.

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.