Industrial Logistics Properties Trust (NASDAQ:ILPT) Stock Rating Lowered by Wall Street Zen

Key Points

• Wall Street Zen downgraded ILPT from “hold” to “sell.” Other analyst views are mixed, with MarketBeat reporting an overall “hold” rating and an average price target of $10.50.
• ILPT reported a quarterly loss of $0.46 per share, missing analysts’ estimate of a $0.14 loss; revenue of $116.81 million also came in slightly below expectations.
• The stock opened at $6.07, below its 50-day and 200-day moving averages of $7.08 and $7.38, respectively.

Industrial Logistics Properties Trust (NASDAQ:ILPT - Get Free Report) was downgraded by investment analysts at Wall Street Zen from a "hold" rating to a "sell" rating in a research note issued on Saturday, Wall Street Zen reports.

A number of other equities research analysts have also recently commented on the stock. Zacks Research cut shares of Industrial Logistics Properties Trust from a "strong-buy" rating to a "hold" rating in a report on Wednesday, October 28th. Weiss Ratings reiterated a "sell (d)" rating on shares of Industrial Logistics Properties Trust in a research note on Wednesday, October 28th. B. Riley Financial lowered 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, November 2nd. Loop Capital set a $11.50 price target on Industrial Logistics Properties Trust in a research report on Wednesday, July 22nd. Finally, Freedom Broker reduced their price objective on Industrial Logistics Properties Trust from $11.00 to $10.00 and set a "buy" rating for the company in a research note on Tuesday, November 3rd. Two investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of "Hold" and an average price target of $10.50.

Industrial Logistics Properties Trust Stock Up 0.2%

ILPT stock opened at $6.07 on Friday. The company has a fifty day moving average price of $7.08 and a 200 day moving average price of $7.38. Industrial Logistics Properties Trust has a 12 month low of $5.01 and a 12 month high of $9.43. The company has a market cap of $406.57 million, a price-to-earnings ratio of 4.85 and a beta of 2.55. The company has a debt-to-equity ratio of 5.27, a current ratio of 3.78 and a quick ratio of 3.78.

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 for the quarter, missing analysts' consensus estimates of ($0.14) by ($0.32). Industrial Logistics Properties Trust had a negative return on equity of 6.54% 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. Sell-side analysts expect that Industrial Logistics Properties Trust will post 1.26 earnings per share for the current year.

Hedge Funds Weigh In On Industrial Logistics Properties Trust

Several institutional investors have recently bought and sold shares of the company. State of Wyoming increased its stake 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 valued at $82,000 after purchasing an additional 2,194 shares in the last quarter. Royal Bank of Canada lifted its holdings in shares of Industrial Logistics Properties Trust by 72.8% in the first quarter. Royal Bank of Canada now owns 11,361 shares of the company's stock valued at $64,000 after purchasing an additional 4,788 shares in the last quarter. D.A. Davidson & CO. grew its position 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 purchasing an additional 5,087 shares during the last quarter. Asset Management One Co. Ltd. grew its position 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 purchasing an additional 5,828 shares during the last quarter. Finally, Sequoia Financial Advisors LLC increased its stake in shares of Industrial Logistics Properties Trust by 24.4% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 38,432 shares of the company's stock worth $341,000 after purchasing an additional 7,538 shares in the last quarter. 49.08% of the stock is owned by institutional investors and hedge funds.

About Industrial Logistics Properties Trust

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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