Bank of New York Mellon Corp Invests $1.76 Million in Industrial Logistics Properties Trust $ILPT

Bank of New York Mellon Corp bought a new position in shares of Industrial Logistics Properties Trust (NASDAQ:ILPT - Free Report) during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund bought 198,157 shares of the company's stock, valued at approximately $1,758,000. Bank of New York Mellon Corp owned 0.30% of Industrial Logistics Properties Trust at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the business. State of Wyoming boosted its position in shares of Industrial Logistics Properties Trust by 17.9% during the 1st quarter. State of Wyoming now owns 14,469 shares of the company's stock worth $82,000 after purchasing an additional 2,194 shares in the last quarter. Deutsche Bank AG increased its holdings in shares of Industrial Logistics Properties Trust by 3.0% in the 4th quarter. Deutsche Bank AG now owns 85,843 shares of the company's stock valued at $476,000 after purchasing an additional 2,496 shares in the last quarter. Jain Global LLC grew its position in Industrial Logistics Properties Trust by 17.3% during the third quarter. Jain Global LLC now owns 16,975 shares of the company's stock worth $99,000 after buying an additional 2,500 shares during the period. Verition Fund Management LLC grew its position in Industrial Logistics Properties Trust by 5.6% during the third quarter. Verition Fund Management LLC now owns 53,861 shares of the company's stock worth $314,000 after buying an additional 2,845 shares during the period. Finally, Hillsdale Investment Management Inc. increased its holdings in Industrial Logistics Properties Trust by 4.7% in the first quarter. Hillsdale Investment Management Inc. now owns 66,300 shares of the company's stock valued at $377,000 after buying an additional 3,000 shares in the last quarter. 49.08% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. Loop Capital set a $11.50 price target on Industrial Logistics Properties Trust in a report on Wednesday, July 22nd. Weiss Ratings raised Industrial Logistics Properties Trust from a "sell (d-)" rating to a "sell (d)" rating in a report on Thursday, July 30th. Zacks Research downgraded Industrial Logistics Properties Trust from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, July 22nd. Finally, Wall Street Zen cut 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 given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $11.50.

Industrial Logistics Properties Trust Trading Down 3.2%

Shares of ILPT opened at $7.97 on Wednesday. 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 1-year low of $4.92 and a 1-year high of $9.43. The stock has a market cap of $532.00 million, a price-to-earnings ratio of -11.07 and a beta of 2.49. The firm has a 50 day simple moving average of $8.68 and a 200-day simple moving average of $7.72.

Industrial Logistics Properties Trust (NASDAQ:ILPT - Get Free Report) last posted its earnings results on Wednesday, July 29th. The company reported ($0.22) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.19) by ($0.03). Industrial Logistics Properties Trust had a negative net margin of 10.37% and a negative return on equity of 5.34%. The company had revenue of $114.12 million during the quarter, compared to analysts' expectations of $116.10 million. Equities analysts forecast that Industrial Logistics Properties Trust will post 1.37 EPS for the current fiscal year.

Industrial Logistics Properties Trust Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 13th. Investors of record on Monday, July 20th were paid a dividend of $0.10 per share. The ex-dividend date of this dividend was Monday, July 20th. This is a positive change from Industrial Logistics Properties Trust's previous quarterly dividend of $0.05. This represents a $0.40 annualized dividend and a dividend yield of 5.0%. Industrial Logistics Properties Trust's payout ratio is currently -55.56%.

About Industrial Logistics Properties Trust

Industrial Logistics Properties Trust NASDAQ: ILPT is a real estate investment trust focused on acquiring, owning and operating industrial logistics properties across the United States. The company specializes in modern distribution centers, cross-dock facilities and last-mile delivery hubs designed to support e-commerce, retail, manufacturing and third-party logistics customers. ILPT’s assets are characterized by high ceilings, ample loading docks and clear spans to accommodate a wide range of warehouse functions.

Formed as a spin-off from STAG Industrial, Inc in January 2022, ILPT commenced operations with a portfolio of strategically located facilities and a disciplined acquisition strategy.

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