Goldman Sachs Group Inc. Has $1.17 Million Holdings in Industrial Logistics Properties Trust $ILPT

Key Points

• Goldman Sachs Group Inc. reduced its position in Industrial Logistics Properties Trust by 20.6%, owning 341,267 shares valued at approximately $1.17 million at the end of the most recent quarter.
• Several institutional investors, including Nantahala Capital Management LLC and Russell Investments Group Ltd., increased their holdings significantly during the first quarter, indicating growing interest in the company.
• The company recently increased its quarterly dividend from $0.01 to $0.05 per share, reflecting a positive shift in financial performance despite a recent stock price decline.

Goldman Sachs Group Inc. lowered its stake in Industrial Logistics Properties Trust (NASDAQ:ILPT - Free Report) by 20.6% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 341,267 shares of the company's stock after selling 88,785 shares during the period. Goldman Sachs Group Inc. owned approximately 0.52% of Industrial Logistics Properties Trust worth $1,174,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of ILPT. Northern Trust Corp increased its position in shares of Industrial Logistics Properties Trust by 2.0% in the fourth quarter. Northern Trust Corp now owns 541,038 shares of the company's stock worth $1,975,000 after purchasing an additional 10,562 shares during the period. Bank of America Corp DE increased its position in shares of Industrial Logistics Properties Trust by 27.7% in the fourth quarter. Bank of America Corp DE now owns 80,111 shares of the company's stock worth $292,000 after purchasing an additional 17,391 shares during the period. ProShare Advisors LLC increased its position in shares of Industrial Logistics Properties Trust by 49.0% in the fourth quarter. ProShare Advisors LLC now owns 18,388 shares of the company's stock worth $67,000 after purchasing an additional 6,051 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in shares of Industrial Logistics Properties Trust in the fourth quarter worth $560,000. Finally, Single Point Partners LLC bought a new position in shares of Industrial Logistics Properties Trust in the first quarter worth $36,000. Institutional investors own 49.08% of the company's stock.

Industrial Logistics Properties Trust Price Performance

Shares of Industrial Logistics Properties Trust stock remained flat at $6.21 during midday trading on Monday. The company had a trading volume of 275,069 shares, compared to its average volume of 390,369. The stock's fifty day moving average is $5.88 and its two-hundred day moving average is $4.34. The company has a current ratio of 4.13, a quick ratio of 4.13 and a debt-to-equity ratio of 4.43. The stock has a market capitalization of $411.97 million, a price-to-earnings ratio of 9.41 and a beta of 2.39. Industrial Logistics Properties Trust has a one year low of $2.45 and a one year high of $6.57.

Industrial Logistics Properties Trust Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 14th. Investors of record on Monday, July 21st were paid 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 dividend yield of 3.2%. The ex-dividend date of this dividend was Monday, July 21st. Industrial Logistics Properties Trust's payout ratio is presently -14.29%.

Analyst Ratings Changes

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

Insider Activity at Industrial Logistics Properties Trust

In related news, Director Kevin C. Phelan acquired 5,000 shares of the business's stock in a transaction that occurred on Thursday, July 31st. The shares were bought at an average cost of $5.43 per share, with a total value of $27,150.00. Following the completion of the purchase, the director directly owned 15,500 shares in the company, valued at $84,165. The trade was a 47.62% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this link. 1.80% of the stock is currently owned by corporate insiders.

Industrial Logistics Properties Trust Company Profile

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.