Key Points
- Director Kevin Phelan bought 2,000 ILPT shares at $6.01 each, investing $12,020 and increasing his stake by 26.67% to 9,500 shares.
- ILPT missed quarterly earnings estimates, reporting a loss of $0.46 per share versus the expected loss of $0.14; revenue was also slightly below forecast at $116.81 million.
- The trust’s quarterly dividend is $0.10 per share, equivalent to a 6.6% annualized yield. Analysts’ consensus rating is Hold, with an average price target of $10.50.
Industrial Logistics Properties Trust (NASDAQ:ILPT - Get Free Report) Director Kevin Phelan acquired 2,000 shares of the business's stock in a transaction dated Monday, November 9th. The stock was purchased at an average cost of $6.01 per share, with a total value of $12,020.00. Following the transaction, the director owned 9,500 shares of the company's stock, valued at approximately $57,095. The trade was a 26.67% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.
Industrial Logistics Properties Trust Stock Performance
NASDAQ ILPT opened at $6.06 on Friday. The business's 50-day moving average price is $7.12 and its 200 day moving average price is $7.38. The company has a current ratio of 3.78, a quick ratio of 3.78 and a debt-to-equity ratio of 5.27. Industrial Logistics Properties Trust has a twelve month low of $5.01 and a twelve month high of $9.43. The company has a market capitalization of $405.90 million, a PE ratio of 5.03 and a beta of 2.55.
Industrial Logistics Properties Trust (NASDAQ:ILPT - Get Free Report) last posted its quarterly earnings data on Wednesday, October 28th. The company reported ($0.46) EPS for the quarter, missing analysts' consensus estimates of ($0.14) by ($0.32). Industrial Logistics Properties Trust had a negative net margin of 12.12% and a negative return on equity of 6.54%. The company had revenue of $116.81 million for the quarter, compared to analyst estimates of $117.48 million. On average, research analysts predict that Industrial Logistics Properties Trust will post 1.26 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, November 12th. Shareholders of record on Monday, October 19th were issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 6.6%. The ex-dividend date was Monday, October 19th. Industrial Logistics Properties Trust's dividend payout ratio (DPR) is -47.06%.
Analyst Ratings Changes
Several research analysts recently weighed in on ILPT shares. Freedom Broker cut their target price on Industrial Logistics Properties Trust from $11.00 to $10.00 and set a "buy" rating on the stock in a research report on Tuesday, November 3rd. B. Riley Financial dropped their price target on Industrial Logistics Properties Trust from $11.00 to $10.00 and set a "buy" rating for the company in a research note on Monday, November 2nd. Loop Capital set a $11.50 price objective on Industrial Logistics Properties Trust in a report on Wednesday, July 22nd. Weiss Ratings reaffirmed a "sell (d)" rating on shares of Industrial Logistics Properties Trust in a research note on Wednesday, October 28th. Finally, Zacks Research cut Industrial Logistics Properties Trust from a "strong-buy" rating to a "hold" rating in a report on Wednesday, October 28th. Two equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $10.50.
Read Our Latest Analysis on Industrial Logistics Properties Trust
Institutional Trading of Industrial Logistics Properties Trust
A number of hedge funds have recently made changes to their positions in the company. SteelPeak Wealth LLC acquired a new position in shares of Industrial Logistics Properties Trust during the first quarter worth $57,000. Royal Bank of Canada increased 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 worth $64,000 after buying an additional 4,788 shares during the period. State of Wyoming lifted its holdings in Industrial Logistics Properties Trust by 17.9% in the 1st quarter. State of Wyoming now owns 14,469 shares of the company's stock worth $82,000 after buying an additional 2,194 shares in the last quarter. Ieq Capital LLC acquired a new position in Industrial Logistics Properties Trust in the 3rd quarter worth $230,000. Finally, Bleakley Financial Group LLC purchased a new position in Industrial Logistics Properties Trust in the 3rd quarter valued at about $246,000. Hedge funds and other institutional investors own 49.08% of the company's stock.
About Industrial Logistics Properties Trust
(
Get Free Report)
Industrial Logistics Properties Trust is a real estate investment trust that owns and leases industrial and logistics properties, including warehouses and distribution facilities. Its properties support activities such as storage, shipping and product distribution. The trust's portfolio serves tenants across the United States, including in Hawaii. Its properties are generally positioned to support regional and national supply chains. Formed in 2017, Industrial Logistics Properties Trust is externally managed by The RMR Group, a real estate management company.
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