Industrial Logistics Properties Trust (NASDAQ:ILPT) Sets New 52-Week High – Time to Buy?

Industrial Logistics Properties Trust (NASDAQ:ILPT) shares reached a new 52-week high during mid-day trading on Friday . The company traded as high as $9.35 and last traded at $9.28, with a volume of 2114725 shares trading hands. The stock had previously closed at $8.78.

Analysts Set New Price Targets

ILPT has been the topic of a number of recent analyst reports. Weiss Ratings lowered Industrial Logistics Properties Trust from a “sell (d)” rating to a “sell (d-)” rating in a report on Thursday, May 28th. Loop Capital set a $7.40 price target on Industrial Logistics Properties Trust in a report on Tuesday, March 3rd. Wall Street Zen raised shares of Industrial Logistics Properties Trust from a “hold” rating to a “buy” rating in a research report on Saturday, May 23rd. B. Riley Financial reaffirmed a “buy” rating on shares of Industrial Logistics Properties Trust in a research report on Thursday, April 23rd. Finally, Zacks Research raised shares of Industrial Logistics Properties Trust from a “hold” rating to a “strong-buy” rating in a research report on Tuesday. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat, Industrial Logistics Properties Trust currently has a consensus rating of “Moderate Buy” and a consensus target price of $7.40.

Industrial Logistics Properties Trust Price Performance

The business’s 50 day moving average is $8.08 and its 200-day moving average is $6.56. The firm has a market capitalization of $618.65 million, a P/E ratio of -11.32 and a beta of 2.50. The company has a quick ratio of 4.24, a current ratio of 4.24 and a debt-to-equity ratio of 4.74.

Industrial Logistics Properties Trust (NASDAQ:ILPT) last released its earnings results on Wednesday, April 29th. The company reported ($0.14) earnings per share for the quarter, topping the consensus estimate of ($0.20) by $0.06. The firm had revenue of $116.42 million during the quarter, compared to analysts’ expectations 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%. As a group, sell-side analysts predict that Industrial Logistics Properties Trust will post 1.34 EPS for the current fiscal year.

Industrial Logistics Properties Trust Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, May 14th. Stockholders of record on Tuesday, April 21st were issued a dividend of $0.05 per share. The ex-dividend date was Tuesday, April 21st. This represents a $0.20 annualized dividend and a dividend yield of 2.2%. Industrial Logistics Properties Trust’s dividend payout ratio is -24.39%.

Institutional Investors Weigh In On Industrial Logistics Properties Trust

Institutional investors have recently added to or reduced their stakes in the business. Empowered Funds LLC bought a new position in Industrial Logistics Properties Trust during the 1st quarter worth $265,000. Bank of America Corp DE increased its holdings in Industrial Logistics Properties Trust by 23.6% during the 1st quarter. Bank of America Corp DE now owns 51,792 shares of the company’s stock worth $294,000 after purchasing an additional 9,898 shares in the last quarter. Royal Bank of Canada raised its holdings in shares of Industrial Logistics Properties Trust by 72.8% in the first quarter. Royal Bank of Canada now owns 11,361 shares of the company’s stock valued at $64,000 after purchasing an additional 4,788 shares during the last quarter. Quantinno Capital Management LP increased its position in shares of Industrial Logistics Properties Trust by 40.2% during the first quarter. Quantinno Capital Management LP now owns 54,557 shares of the company’s stock valued at $310,000 after acquiring an additional 15,637 shares during the last quarter. Finally, Renaissance Technologies LLC boosted its stake in Industrial Logistics Properties Trust by 59.8% in the first quarter. Renaissance Technologies LLC now owns 458,989 shares of the company’s stock valued at $2,607,000 after acquiring an additional 171,689 shares during the last quarter. 49.08% of the stock is owned by institutional investors.

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.