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

Industrial Logistics Properties Trust (NASDAQ:ILPT) posted its quarterly earnings results on Wednesday. The company reported ($0.22) EPS for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.03), FiscalAI reports. The business 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 return on equity of 5.25% and a negative net margin of 10.37%.

Industrial Logistics Properties Trust Stock Performance

Shares of ILPT stock traded up $0.03 on Friday, hitting $8.50. The company’s stock had a trading volume of 32,272 shares, compared to its average volume of 411,819. The company has a debt-to-equity ratio of 4.74, a quick ratio of 4.24 and a current ratio of 4.24. The stock’s 50 day moving average is $8.80 and its 200-day moving average is $7.14. Industrial Logistics Properties Trust has a fifty-two week low of $4.92 and a fifty-two week high of $9.43. The company has a market capitalization of $566.76 million, a PE ratio of -11.80 and a beta of 2.50.

Industrial Logistics Properties Trust Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 13th. Stockholders of record on Monday, July 20th will be given a $0.10 dividend. The ex-dividend date of this dividend is Monday, July 20th. 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 4.7%. Industrial Logistics Properties Trust’s dividend payout ratio (DPR) is presently -55.56%.

Analyst Ratings Changes

Several research analysts have recently commented on ILPT shares. B. Riley Financial reiterated a “buy” rating on shares of Industrial Logistics Properties Trust in a research note on Thursday, April 23rd. Weiss Ratings downgraded Industrial Logistics Properties Trust from a “sell (d)” rating to a “sell (d-)” rating in a report on Thursday, May 28th. 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. 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. Finally, Loop Capital set a $11.50 target price on shares of Industrial Logistics Properties Trust in a report on Wednesday, July 22nd. One analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Industrial Logistics Properties Trust currently has a consensus rating of “Hold” and an average price target of $11.50.

Institutional Trading of Industrial Logistics Properties Trust

Institutional investors have recently bought and sold shares of the business. UMB Bank n.a. acquired a new position in shares of Industrial Logistics Properties Trust during the 4th quarter worth approximately $7,092,000. Millennium Management LLC raised its position in shares of Industrial Logistics Properties Trust by 181.2% in the third quarter. Millennium Management LLC now owns 1,308,289 shares of the company’s stock valued at $7,627,000 after buying an additional 843,033 shares in the last quarter. Nantahala Capital Management LLC boosted its stake in shares of Industrial Logistics Properties Trust by 27.9% in the second quarter. Nantahala Capital Management LLC now owns 3,206,219 shares of the company’s stock valued at $14,588,000 after buying an additional 699,975 shares during the period. Invesco Ltd. grew its position in Industrial Logistics Properties Trust by 201.2% during the third quarter. Invesco Ltd. now owns 551,302 shares of the company’s stock worth $3,214,000 after buying an additional 368,294 shares in the last quarter. Finally, Inspire Investing LLC acquired a new stake in Industrial Logistics Properties Trust during the fourth quarter worth approximately $1,263,000. Institutional investors own 49.08% of the company’s stock.

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.