Charles Schwab Investment Management Inc. decreased its holdings in Industrial Logistics Properties Trust (NASDAQ:ILPT - Free Report) by 49.2% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 489,748 shares of the company's stock after selling 473,522 shares during the period. Charles Schwab Investment Management Inc. owned about 0.74% of Industrial Logistics Properties Trust worth $1,685,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other large investors also recently bought and sold shares of ILPT. Union Square Park Capital Management LLC raised its stake in Industrial Logistics Properties Trust by 40.1% in the fourth quarter. Union Square Park Capital Management LLC now owns 1,200,000 shares of the company's stock worth $4,380,000 after buying an additional 343,749 shares in the last quarter. CastleKnight Management LP raised its stake in Industrial Logistics Properties Trust by 22.9% in the fourth quarter. CastleKnight Management LP now owns 1,818,213 shares of the company's stock worth $6,636,000 after buying an additional 338,435 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in Industrial Logistics Properties Trust in the fourth quarter worth approximately $560,000. DigitalBridge Group Inc. raised its stake in Industrial Logistics Properties Trust by 20.0% in the fourth quarter. DigitalBridge Group Inc. now owns 456,225 shares of the company's stock worth $1,665,000 after buying an additional 76,000 shares in the last quarter. Finally, US Asset Management LLC bought a new position in Industrial Logistics Properties Trust in the fourth quarter worth approximately $119,000. Institutional investors own 49.08% of the company's stock.
Wall Street Analysts Forecast Growth
A number of equities analysts recently commented on ILPT shares. Zacks Research downgraded shares of Industrial Logistics Properties Trust from a "strong-buy" rating to a "strong sell" rating in a research note on Monday, August 18th. B. Riley started coverage on shares of Industrial Logistics Properties Trust in a report on Friday, May 9th. They issued a "buy" rating and a $5.00 price target on the stock. One investment analyst has rated the stock with a Strong Buy rating and one has given a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $5.00.
Check Out Our Latest Report on Industrial Logistics Properties Trust
Industrial Logistics Properties Trust Stock Up 1.1%
NASDAQ ILPT traded up $0.07 on Thursday, hitting $5.94. The stock had a trading volume of 111,513 shares, compared to its average volume of 417,010. The business's fifty day moving average price is $5.51 and its 200 day moving average price is $4.12. The company has a debt-to-equity ratio of 4.43, a current ratio of 4.13 and a quick ratio of 4.13. Industrial Logistics Properties Trust has a 52-week low of $2.45 and a 52-week high of $6.32. The stock has a market cap of $393.73 million, a price-to-earnings ratio of -4.24 and a beta of 2.39.
Industrial Logistics Properties Trust Increases Dividend
The company also recently declared a quarterly dividend, which was paid on Thursday, August 14th. Shareholders of record on Monday, July 21st were issued a $0.05 dividend. This is an increase from Industrial Logistics Properties Trust's previous quarterly dividend of $0.01. This represents a $0.20 annualized dividend and a yield of 3.4%. The ex-dividend date of this dividend was Monday, July 21st. Industrial Logistics Properties Trust's dividend payout ratio is presently -14.29%.
Insider Transactions at Industrial Logistics Properties Trust
In other news, Director Kevin C. Phelan purchased 5,000 shares of the business's stock in a transaction on Thursday, July 31st. The shares were acquired at an average cost of $5.43 per share, with a total value of $27,150.00. Following the completion of the acquisition, the director owned 15,500 shares of the company's stock, valued at $84,165. This trade represents a 47.62% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 1.80% of the company's stock.
About Industrial Logistics Properties Trust
(
Free Report)
Industrial Logistics Properties Trust Nasdaq: ILPT is a real estate investment trust, or REIT, focused on owning and leasing high quality distribution and logistics properties. As of December 31, 2023, ILPT's portfolio consisted of 411 properties containing approximately 60 million rentable square feet located in 39 states.
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