Industrial Logistics Properties Trust (NASDAQ:ILPT) Sets New 12-Month High on Earnings Beat

Industrial Logistics Properties Trust (NASDAQ:ILPT) reached a new 52-week high during trading on Wednesday after the company announced better than expected quarterly earnings. The stock traded as high as $7.79 and last traded at $7.6310, with a volume of 193232 shares changing hands. The stock had previously closed at $7.64.

The company reported ($0.14) EPS for the quarter, beating the consensus estimate 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 5.87%. The company had revenue of $116.42 million during the quarter, compared to analysts’ expectations of $114.82 million.

Industrial Logistics Properties Trust Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 14th. Stockholders of record on Tuesday, April 21st will be issued a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date is Tuesday, April 21st. Industrial Logistics Properties Trust’s dividend payout ratio (DPR) is presently -19.80%.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on ILPT. B. Riley Financial restated a “buy” rating on shares of Industrial Logistics Properties Trust in a report on Thursday, April 23rd. Weiss Ratings restated a “sell (d)” rating on shares of Industrial Logistics Properties Trust in a report on Monday. Loop Capital set a $7.40 price objective on shares of Industrial Logistics Properties Trust in a report on Tuesday, March 3rd. Finally, Zacks Research upgraded shares of Industrial Logistics Properties Trust from a “hold” rating to a “strong-buy” rating in a report on Wednesday, April 22nd. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Industrial Logistics Properties Trust presently has a consensus rating of “Moderate Buy” and an average target price of $6.20.

Institutional Investors Weigh In On Industrial Logistics Properties Trust

Several hedge funds and other institutional investors have recently bought and sold shares of ILPT. Quarry LP acquired a new stake in Industrial Logistics Properties Trust during the 3rd quarter worth $28,000. Advisory Services Network LLC acquired a new stake in Industrial Logistics Properties Trust during the 3rd quarter worth $34,000. Royal Bank of Canada raised its stake in Industrial Logistics Properties Trust by 387.2% during the 4th quarter. Royal Bank of Canada now owns 6,573 shares of the company’s stock worth $36,000 after acquiring an additional 5,224 shares in the last quarter. Strs Ohio acquired a new stake in Industrial Logistics Properties Trust during the 1st quarter worth $42,000. Finally, Retirement Planning Co of New England Inc. acquired a new stake in Industrial Logistics Properties Trust during the 4th quarter worth $56,000. 49.08% of the stock is currently owned by institutional investors and hedge funds.

Industrial Logistics Properties Trust Price Performance

The company’s 50 day moving average is $6.16 and its 200 day moving average is $5.78. The company has a current ratio of 4.29, a quick ratio of 4.29 and a debt-to-equity ratio of 4.66. The stock has a market capitalization of $513.21 million, a price-to-earnings ratio of -9.39 and a beta of 2.39.

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.