Industrial Logistics Properties Trust (NASDAQ:ILPT) Stock Price Target Cut by B. Riley Financial

Key Points

• B. Riley Financial cut ILPT’s price target from $11.00 to $10.00 but maintained a “Buy” rating, implying roughly 47% upside from the stock’s $6.79 price.
• Analyst sentiment is mixed: MarketBeat reports an average rating of “Hold” and a consensus price target of $10.75, with ratings ranging from Buy to Sell.
• ILPT recently reported a wider-than-expected quarterly loss, posting adjusted EPS of -$0.46 versus estimates of -$0.14, while revenue slightly missed forecasts at $116.81 million.

Industrial Logistics Properties Trust (NASDAQ:ILPT - Get Free Report) had its target price lowered by investment analysts at B. Riley Financial from $11.00 to $10.00 in a note issued to investors on Monday, Benzinga reports. The firm presently has a "buy" rating on the stock. B. Riley Financial's price objective would indicate a potential upside of 47.38% from the stock's current price.

Other research analysts have also recently issued research reports about the company. Loop Capital set a $11.50 target price on Industrial Logistics Properties Trust in a research note on Wednesday, July 22nd. Wall Street Zen downgraded shares of Industrial Logistics Properties Trust from a "buy" rating to a "hold" rating in a report on Saturday, August 1st. Zacks Research lowered shares of Industrial Logistics Properties Trust from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, October 28th. Finally, Weiss Ratings reaffirmed a "sell (d)" rating on shares of Industrial Logistics Properties Trust in a research note on Wednesday. One analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $10.75.

Industrial Logistics Properties Trust Price Performance

NASDAQ:ILPT traded down $0.01 during midday trading on Monday, hitting $6.79. 244,431 shares of the stock were exchanged, compared to its average volume of 398,162. The company has a market capitalization of $454.48 million, a price-to-earnings ratio of -7.99 and a beta of 2.54. 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 one year low of $5.01 and a one year high of $9.43. The business has a 50-day moving average price of $7.51 and a two-hundred day moving average price of $7.36.

Industrial Logistics Properties Trust (NASDAQ:ILPT - Get Free Report) last issued its quarterly earnings results on Wednesday, October 28th. The company reported ($0.46) earnings per share (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 firm had revenue of $116.81 million for the quarter, compared to the consensus estimate of $117.48 million. Sell-side analysts predict that Industrial Logistics Properties Trust will post 1.24 EPS for the current year.

Hedge Funds Weigh In On Industrial Logistics Properties Trust

Institutional investors have recently bought and sold shares of the stock. Renaissance Technologies LLC lifted its stake in Industrial Logistics Properties Trust by 59.8% during the first quarter. Renaissance Technologies LLC now owns 458,989 shares of the company's stock valued at $2,607,000 after buying an additional 171,689 shares in the last quarter. Arrowstreet Capital Limited Partnership purchased a new position in shares of Industrial Logistics Properties Trust in the first quarter worth approximately $1,243,000. Bank of New York Mellon Corp purchased a new position in shares of Industrial Logistics Properties Trust in the second quarter worth approximately $1,758,000. D.A. Davidson & CO. raised its holdings 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 acquiring an additional 5,087 shares during the period. Finally, Asset Management One Co. Ltd. raised its holdings in shares of Industrial Logistics Properties Trust by 7.0% during the third quarter. Asset Management One Co. Ltd. now owns 88,883 shares of the company's stock valued at $631,000 after acquiring an additional 5,828 shares during the period. Hedge funds and other institutional investors own 49.08% of the company's stock.

About Industrial Logistics Properties Trust

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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