Industrial Logistics Properties Trust (NASDAQ:ILPT) Stock Rating Cut to Hold at Zacks Research

Key Points

• Zacks Research downgraded Industrial Logistics Properties Trust from “strong buy” to “hold.” Other analyst views are mixed, resulting in a consensus “hold” rating and an average price target of $11.50.
• ILPT shares opened at $6.98, down 4.9%, and remain below their 50-day and 200-day moving averages. The stock has traded between $5.01 and $9.43 over the past year.
• The company reported a quarterly loss of $0.46 per share, missing estimates by $0.32, while revenue of $116.81 million was slightly below expectations. Institutional investors own approximately 49.08% of the stock.

Industrial Logistics Properties Trust (NASDAQ:ILPT - Get Free Report) was downgraded by investment analysts at Zacks Research from a "strong-buy" rating to a "hold" rating in a report released on Wednesday, Zacks reports.

A number of other equities analysts have also commented on the company. Loop Capital set a $11.50 price objective on Industrial Logistics Properties Trust in a research note on Wednesday, July 22nd. Weiss Ratings restated a "sell (d)" rating on shares of Industrial Logistics Properties Trust in a research note on Wednesday. Finally, Wall Street Zen downgraded Industrial Logistics Properties Trust from a "buy" rating to a "hold" rating in a research report on Saturday, August 1st. One investment analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Industrial Logistics Properties Trust presently has a consensus rating of "Hold" and an average price target of $11.50.

Industrial Logistics Properties Trust Trading Down 4.9%

Shares of NASDAQ ILPT opened at $6.98 on Wednesday. The stock has a market cap of $465.89 million, a price-to-earnings ratio of -8.21 and a beta of 2.54. The business has a 50 day simple moving average of $7.54 and a 200 day simple moving average of $7.35. The company has a debt-to-equity ratio of 4.97, a quick ratio of 4.11 and a current ratio of 4.11. Industrial Logistics Properties Trust has a 52 week low of $5.01 and a 52 week high of $9.43.

Industrial Logistics Properties Trust (NASDAQ:ILPT - Get Free Report) last posted 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). Industrial Logistics Properties Trust had a negative return on equity of 6.39% and a negative net margin of 12.12%. The business 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 1.37 earnings per share for the current fiscal year.

Institutional Trading of Industrial Logistics Properties Trust

Institutional investors have recently bought and sold shares of the stock. Renaissance Technologies LLC grew 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 worth $2,607,000 after buying an additional 171,689 shares during the last quarter. Arrowstreet Capital Limited Partnership acquired a new position in Industrial Logistics Properties Trust in the first quarter worth $1,243,000. Bank of New York Mellon Corp bought a new stake in shares of Industrial Logistics Properties Trust during the second quarter worth $1,758,000. D.A. Davidson & CO. increased its stake in shares of Industrial Logistics Properties Trust by 3.7% in 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 in the last quarter. Finally, Asset Management One Co. Ltd. raised its holdings in shares of 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 valued at $631,000 after buying an additional 5,828 shares during the last quarter. Institutional investors and hedge funds 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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