Cubist Systematic Strategies LLC Buys Shares of 81,192 Industrial Logistics Properties Trust $ILPT

Key Points

• Cubist Systematic Strategies LLC acquired 81,192 shares of Industrial Logistics Properties Trust, valued at approximately $279,000, during the first quarter.
• Industrial Logistics Properties Trust recently announced a quarterly dividend of $0.05 per share, marking an increase from its previous dividend of $0.01, with a current yield of 3.2%.
• Zacks Research downgraded Industrial Logistics Properties Trust from a "strong-buy" to a "strong sell" rating, while the overall consensus rating for the stock remains "Moderate Buy" with an average target price of $5.00.

Cubist Systematic Strategies LLC purchased a new position in Industrial Logistics Properties Trust (NASDAQ:ILPT - Free Report) in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 81,192 shares of the company's stock, valued at approximately $279,000. Cubist Systematic Strategies LLC owned 0.12% of Industrial Logistics Properties Trust as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. D. E. Shaw & Co. Inc. boosted its stake in shares of Industrial Logistics Properties Trust by 1.3% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 1,574,742 shares of the company's stock valued at $5,748,000 after purchasing an additional 19,995 shares during the period. Union Square Park Capital Management LLC boosted its position in Industrial Logistics Properties Trust by 40.1% in the 4th quarter. Union Square Park Capital Management LLC now owns 1,200,000 shares of the company's stock valued at $4,380,000 after buying an additional 343,749 shares during the last quarter. Russell Investments Group Ltd. boosted its position in Industrial Logistics Properties Trust by 7,332.3% in the 1st quarter. Russell Investments Group Ltd. now owns 853,230 shares of the company's stock valued at $2,935,000 after buying an additional 841,750 shares during the last quarter. Northern Trust Corp boosted its position in Industrial Logistics Properties Trust by 2.0% in the 4th quarter. Northern Trust Corp now owns 541,038 shares of the company's stock valued at $1,975,000 after buying an additional 10,562 shares during the last quarter. Finally, DigitalBridge Group Inc. boosted its holdings 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 valued at $1,665,000 after purchasing an additional 76,000 shares during the last quarter. Hedge funds and other institutional investors own 49.08% of the company's stock.

Analysts Set New Price Targets

Separately, Zacks Research downgraded Industrial Logistics Properties Trust from a "strong-buy" rating to a "strong sell" rating in a report on Monday, August 18th. One equities research analyst has rated the stock with a Strong Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $5.00.

Insider Transactions at Industrial Logistics Properties Trust

In other Industrial Logistics Properties Trust news, Director Kevin C. Phelan bought 5,000 shares of the business's stock in a transaction on Thursday, July 31st. The shares were purchased at an average price of $5.43 per share, with a total value of $27,150.00. Following the completion of the acquisition, the director directly owned 15,500 shares of the company's stock, valued at approximately $84,165. The trade was a 47.62% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 1.80% of the stock is owned by corporate insiders.

Industrial Logistics Properties Trust Stock Performance

Shares of Industrial Logistics Properties Trust stock traded up $0.02 during trading hours on Wednesday, reaching $6.37. The company's stock had a trading volume of 358,449 shares, compared to its average volume of 398,609. The company's 50 day simple moving average is $5.84 and its 200 day simple moving average is $4.29. The company has a debt-to-equity ratio of 4.43, a quick ratio of 4.13 and a current ratio of 4.13. Industrial Logistics Properties Trust has a one year low of $2.45 and a one year high of $6.57. The stock has a market cap of $422.59 million, a P/E ratio of -4.55 and a beta of 2.39.

Industrial Logistics Properties Trust Increases Dividend

The firm also recently announced 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 dividend on an annualized basis and a yield of 3.1%. The ex-dividend date of this dividend was Monday, July 21st. Industrial Logistics Properties Trust's dividend payout ratio is -14.29%.

About Industrial Logistics Properties Trust

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.