Industrial Logistics Properties Trust (NASDAQ:ILPT) Given New $10.00 Price Target at Freedom Broker

Key Points

• Freedom Broker lowered its price target on Industrial Logistics Properties Trust from $11 to $10 but maintained a Buy rating, implying 56.86% upside from the prior close.
• ILPT shares fell 3.4% to $6.38 in Tuesday trading. The stock’s average analyst rating is Hold, with an average price target of $10.50.
• The company missed quarterly earnings expectations, reporting a loss of $0.46 per share versus the consensus estimate of a $0.14 loss; revenue was also slightly below forecasts.

Industrial Logistics Properties Trust (NASDAQ:ILPT - Get Free Report) had its price target dropped by analysts at Freedom Broker from $11.00 to $10.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The brokerage presently has a "buy" rating on the stock. Freedom Broker's price objective indicates a potential upside of 56.86% from the stock's previous close.

ILPT has been the topic of several other research reports. Wall Street Zen cut shares of Industrial Logistics Properties Trust from a "buy" rating to a "hold" rating in a research report on Saturday, August 1st. Weiss Ratings reaffirmed a "sell (d)" rating on shares of Industrial Logistics Properties Trust in a report on Wednesday, October 28th. Zacks Research downgraded Industrial Logistics Properties Trust from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, October 28th. B. Riley Financial dropped their price target on Industrial Logistics Properties Trust from $11.00 to $10.00 and set a "buy" rating on the stock in a report on Monday. Finally, Loop Capital set a $11.50 price target on Industrial Logistics Properties Trust in a report on Wednesday, July 22nd. Two equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $10.50.

Industrial Logistics Properties Trust Trading Down 3.4%

NASDAQ ILPT traded down $0.23 during mid-day trading on Tuesday, reaching $6.38. 298,172 shares of the stock were exchanged, compared to its average volume of 399,896. The stock has a market cap of $425.53 million, a P/E ratio of -7.52 and a beta of 2.54. The company has a debt-to-equity ratio of 4.97, a current ratio of 4.11 and a quick ratio of 4.11. Industrial Logistics Properties Trust has a one year low of $5.01 and a one year high of $9.43. The stock has a 50 day simple moving average of $7.47 and a 200-day simple moving average of $7.36.

Industrial Logistics Properties Trust (NASDAQ:ILPT - Get Free Report) last issued its earnings results on Wednesday, October 28th. The company reported ($0.46) EPS for the quarter, missing the consensus estimate of ($0.14) by ($0.32). The firm had revenue of $116.81 million during the quarter, compared to analyst estimates of $117.48 million. Industrial Logistics Properties Trust had a negative net margin of 12.12% and a negative return on equity of 6.39%. On average, analysts anticipate that Industrial Logistics Properties Trust will post 1.24 EPS for the current year.

Institutional Trading of Industrial Logistics Properties Trust

A number of institutional investors have recently modified their holdings of ILPT. Renaissance Technologies LLC lifted its position in shares of Industrial Logistics Properties Trust by 59.8% in the 1st quarter. Renaissance Technologies LLC now owns 458,989 shares of the company's stock worth $2,607,000 after purchasing an additional 171,689 shares during the period. Arrowstreet Capital Limited Partnership bought a new stake in shares of Industrial Logistics Properties Trust during the 1st quarter valued at about $1,243,000. Bank of New York Mellon Corp purchased a new position in shares of Industrial Logistics Properties Trust during the second quarter valued at about $1,758,000. D.A. Davidson & CO. increased its position in shares of Industrial Logistics Properties Trust by 3.7% during the third quarter. D.A. Davidson & CO. now owns 141,687 shares of the company's stock valued at $1,006,000 after buying an additional 5,087 shares during the period. Finally, Asset Management One Co. Ltd. raised its stake in Industrial Logistics Properties Trust by 7.0% in the third quarter. Asset Management One Co. Ltd. now owns 88,883 shares of the company's stock worth $631,000 after buying an additional 5,828 shares in the last quarter. 49.08% of the stock is currently owned by hedge funds and other institutional investors.

Industrial Logistics Properties Trust Company Profile

Industrial Logistics Properties Trust NASDAQ: ILPT is a real estate investment trust focused on owning and leasing industrial and logistics properties. Its portfolio includes distribution centers, warehouse facilities, and other properties used for transportation, storage, manufacturing, and related business activities.

The company serves tenants across the United States, with properties located in a variety of major logistics markets and industrial regions. Its facilities support supply-chain operations for businesses that require strategically located space near transportation networks and population centers.

Industrial Logistics Properties Trust was established in 2017 and is externally managed by The RMR Group, a property management and real estate services company.

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