CastleKnight Management LP Raises Holdings in Industrial Logistics Properties Trust $ILPT

CastleKnight Management LP lifted its holdings in shares of Industrial Logistics Properties Trust (NASDAQ:ILPT) by 8.8% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 1,911,859 shares of the company’s stock after acquiring an additional 154,200 shares during the period. CastleKnight Management LP’s holdings in Industrial Logistics Properties Trust were worth $10,592,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the business. Vanguard Group Inc. grew its stake in shares of Industrial Logistics Properties Trust by 0.5% during the third quarter. Vanguard Group Inc. now owns 3,244,244 shares of the company’s stock worth $18,914,000 after acquiring an additional 15,006 shares during the last quarter. Nantahala Capital Management LLC grew its stake in shares of Industrial Logistics Properties Trust by 27.9% during the second quarter. Nantahala Capital Management LLC now owns 3,206,219 shares of the company’s stock worth $14,588,000 after acquiring an additional 699,975 shares during the last quarter. Millennium Management LLC grew its stake in shares of Industrial Logistics Properties Trust by 181.2% during the third quarter. Millennium Management LLC now owns 1,308,289 shares of the company’s stock worth $7,627,000 after acquiring an additional 843,033 shares during the last quarter. UMB Bank n.a. purchased a new stake in shares of Industrial Logistics Properties Trust during the fourth quarter worth about $7,092,000. Finally, LSV Asset Management grew its stake in shares of Industrial Logistics Properties Trust by 3.5% during the fourth quarter. LSV Asset Management now owns 1,175,557 shares of the company’s stock worth $6,513,000 after acquiring an additional 39,631 shares during the last quarter. Hedge funds and other institutional investors own 49.08% of the company’s stock.

Analyst Ratings Changes

ILPT has been the topic of a number of research analyst reports. Loop Capital set a $7.40 price target on Industrial Logistics Properties Trust in a research note on Tuesday, March 3rd. B. Riley Financial reiterated a “buy” rating on shares of Industrial Logistics Properties Trust in a research report on Thursday, April 23rd. Wall Street Zen upgraded Industrial Logistics Properties Trust from a “hold” rating to a “buy” rating in a research report on Saturday, May 23rd. Weiss Ratings lowered Industrial Logistics Properties Trust from a “sell (d)” rating to a “sell (d-)” rating in a research report on Thursday, May 28th. Finally, Zacks Research lowered Industrial Logistics Properties Trust from a “strong-buy” rating to a “hold” rating in a research report on Friday, May 1st. One research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $7.40.

Industrial Logistics Properties Trust Price Performance

Shares of NASDAQ ILPT opened at $8.32 on Thursday. The business’s 50 day moving average price is $7.74 and its 200 day moving average price is $6.44. The firm has a market cap of $554.69 million, a P/E ratio of -10.15 and a beta of 2.50. Industrial Logistics Properties Trust has a 52 week low of $4.33 and a 52 week high of $9.17. 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 issued its earnings results on Wednesday, April 29th. The company reported ($0.14) EPS for the quarter, beating analysts’ consensus estimates of ($0.20) by $0.06. Industrial Logistics Properties Trust had a negative return on equity of 5.93% and a negative net margin of 11.93%.The firm had revenue of $116.42 million for the quarter, compared to analyst estimates of $114.82 million. On average, sell-side analysts expect that Industrial Logistics Properties Trust will post 1.34 earnings per share for the current year.

Industrial Logistics Properties Trust Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, May 14th. Shareholders of record on Tuesday, April 21st were issued a $0.05 dividend. 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 payout ratio is presently -24.39%.

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.