Industrial Logistics Properties Trust (NASDAQ:ILPT) Stock Rating Raised to Strong-Buy at Zacks Research

Key Points

• Zacks Research upgraded Industrial Logistics Properties Trust from “hold” to “strong buy.” Analysts have a consensus “Moderate Buy” rating and an $11.50 price target.
• ILPT shares opened at $7.09, versus a 12-month range of $4.92 to $9.43, with a market capitalization of approximately $473.6 million.
• The company’s latest quarterly results fell short of expectations, reporting a loss of $0.22 per share and revenue of $114.12 million; institutional investors own about 49.08% of the stock.

Industrial Logistics Properties Trust (NASDAQ:ILPT - Get Free Report) was upgraded by research analysts at Zacks Research from a "hold" rating to a "strong-buy" rating in a research note issued on Tuesday, Zacks reports.

Several other equities research analysts also recently weighed in on ILPT. Loop Capital set a $11.50 target price on shares of Industrial Logistics Properties Trust in a research note on Wednesday, July 22nd. Weiss Ratings upgraded Industrial Logistics Properties Trust from a "sell (d-)" rating to a "sell (d)" rating in a research report on Thursday, July 30th. Finally, Wall Street Zen downgraded Industrial Logistics Properties Trust from a "buy" rating to a "hold" rating in a research note on Saturday, August 1st. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $11.50.

Industrial Logistics Properties Trust Stock Performance

Shares of Industrial Logistics Properties Trust stock opened at $7.09 on Tuesday. The firm's fifty day simple moving average is $8.27 and its 200-day simple moving average is $7.89. Industrial Logistics Properties Trust has a 12 month low of $4.92 and a 12 month high of $9.43. The stock has a market capitalization of $473.59 million, a price-to-earnings ratio of -9.85 and a beta of 2.49. 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 (NASDAQ:ILPT - Get Free Report) last issued its quarterly earnings results on Wednesday, July 29th. The company reported ($0.22) earnings per share for the quarter, missing analysts' consensus estimates of ($0.19) by ($0.03). Industrial Logistics Properties Trust had a negative return on equity of 5.34% and a negative net margin of 10.37%.The business had revenue of $114.12 million for the quarter, compared to analyst estimates of $116.10 million. As a group, equities analysts forecast that Industrial Logistics Properties Trust will post 1.37 earnings per share for the current year.

Institutional Investors Weigh In On Industrial Logistics Properties Trust

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. SteelPeak Wealth LLC acquired a new position in shares of Industrial Logistics Properties Trust during the 1st quarter worth $57,000. SG Americas Securities LLC purchased a new stake in Industrial Logistics Properties Trust during the first quarter worth about $64,000. Royal Bank of Canada boosted its holdings in Industrial Logistics Properties Trust by 72.8% during the first 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 in the last quarter. State of Wyoming boosted its holdings in Industrial Logistics Properties Trust by 17.9% during the first 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. Finally, Sequoia Financial Advisors LLC grew its position in Industrial Logistics Properties Trust by 24.4% during the second quarter. Sequoia Financial Advisors LLC now owns 38,432 shares of the company's stock worth $341,000 after buying an additional 7,538 shares during the period. Institutional investors and hedge funds own 49.08% of the company's stock.

Industrial Logistics Properties Trust Company Profile

Industrial Logistics Properties Trust NASDAQ: ILPT is a real estate investment trust that owns and manages industrial and logistics properties in the United States. Its portfolio is designed to support essential supply-chain activities and includes distribution centers, warehouses, manufacturing facilities, and other industrial properties.

The trust generally leases its properties to business and government tenants, with locations serving a range of industries and transportation markets.

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