Key Points
- Director Kevin Phelan bought 2,000 shares of Industrial Logistics Properties Trust at $8.87 each, increasing his ownership by 36.36% to 7,500 shares. The purchase was disclosed in an SEC filing.
- ILPT’s stock was slightly lower at $8.69, near its 52-week high of $8.89, and the company now has a market cap of about $579 million. Its balance sheet remains leveraged, with a debt-to-equity ratio of 4.74.
- Recent operating results and analyst views were mixed: the company beat quarterly EPS and revenue estimates, paid a $0.05 quarterly dividend, and currently carries an average Wall Street rating of “Hold” with a $7.40 price target.
Industrial Logistics Properties Trust (NASDAQ:ILPT - Get Free Report) Director Kevin Phelan bought 2,000 shares of the firm's stock in a transaction that occurred on Friday, May 22nd. The shares were acquired at an average price of $8.87 per share, with a total value of $17,740.00. Following the completion of the transaction, the director directly owned 7,500 shares of the company's stock, valued at $66,525. This trade represents a 36.36% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.
Industrial Logistics Properties Trust Trading Down 0.3%
NASDAQ ILPT opened at $8.69 on Thursday. The company has a market capitalization of $579.36 million, a PE ratio of -10.60 and a beta of 2.47. The company has a fifty day moving average of $6.85 and a 200 day moving average of $6.09. Industrial Logistics Properties Trust has a 1 year low of $3.18 and a 1 year high of $8.89. The company has a debt-to-equity ratio of 4.74, a current ratio of 4.24 and a quick ratio of 4.24.
Industrial Logistics Properties Trust (NASDAQ:ILPT - Get Free Report) last posted its earnings results on Wednesday, April 29th. The company reported ($0.14) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.20) by $0.06. The company had revenue of $116.42 million during the quarter, compared to the consensus estimate of $114.82 million. Industrial Logistics Properties Trust had a negative net margin of 11.93% and a negative return on equity of 5.93%. Research analysts forecast that Industrial Logistics Properties Trust will post 1.34 earnings per share for the current year.
Industrial Logistics Properties Trust Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Thursday, May 14th. Investors of record on Tuesday, April 21st were given a dividend of $0.05 per share. The ex-dividend date was Tuesday, April 21st. This represents a $0.20 dividend on an annualized basis and a yield of 2.3%. Industrial Logistics Properties Trust's payout ratio is currently -24.39%.
Institutional Inflows and Outflows
Several hedge funds have recently modified their holdings of ILPT. Bank of America Corp DE grew its stake 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 valued at $294,000 after acquiring an additional 9,898 shares in the last quarter. Royal Bank of Canada grew its stake in Industrial Logistics Properties Trust by 72.8% during the 1st quarter. Royal Bank of Canada now owns 11,361 shares of the company's stock valued at $64,000 after acquiring an additional 4,788 shares in the last quarter. Empowered Funds LLC purchased a new stake in Industrial Logistics Properties Trust during the 1st quarter valued at about $265,000. Quantinno Capital Management LP grew its stake in Industrial Logistics Properties Trust by 40.2% during the 1st 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 in the last quarter. Finally, Renaissance Technologies LLC grew its stake in Industrial Logistics Properties Trust by 59.8% during the 1st 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 in the last quarter. Institutional investors and hedge funds own 49.08% of the company's stock.
Wall Street Analyst Weigh In
A number of research analysts have weighed in on ILPT shares. Wall Street Zen upgraded shares of Industrial Logistics Properties Trust from a "hold" rating to a "buy" rating in a research report on Saturday, May 23rd. Loop Capital set a $7.40 price objective on shares of Industrial Logistics Properties Trust in a research report on Tuesday, March 3rd. Weiss Ratings reiterated a "sell (d)" rating on shares of Industrial Logistics Properties Trust in a research report 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 report on Friday, May 1st. Finally, B. Riley Financial reiterated a "buy" rating on shares of Industrial Logistics Properties Trust in a research report on Thursday, April 23rd. One investment analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $7.40.
Get Our Latest Stock Analysis on ILPT
Industrial Logistics Properties Trust Company Profile
(
Get Free Report)
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.
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