Invesco Ltd. Sells 48,326 Shares of Industrial Logistics Properties Trust $ILPT

Key Points

• Invesco Ltd. reduced its stake in Industrial Logistics Properties Trust by 17.1% in Q1 2023, owning approximately 234,904 shares valued at around $808,000.
• Insider activity increased as Director Kevin C. Phelan bought 5,000 shares at an average price of $5.43, raising his total ownership to 15,500 shares.
• Industrial Logistics Properties Trust increased its quarterly dividend to $0.05 per share, resulting in a dividend yield of 3.4%, after previously issuing a dividend of only $0.01.

Invesco Ltd. trimmed its stake in Industrial Logistics Properties Trust (NASDAQ:ILPT - Free Report) by 17.1% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 234,904 shares of the company's stock after selling 48,326 shares during the quarter. Invesco Ltd. owned about 0.36% of Industrial Logistics Properties Trust worth $808,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Price T Rowe Associates Inc. MD raised its stake in Industrial Logistics Properties Trust by 15.3% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 24,124 shares of the company's stock worth $89,000 after buying an additional 3,199 shares during the period. ProShare Advisors LLC raised its stake in Industrial Logistics Properties Trust by 49.0% during the 4th quarter. ProShare Advisors LLC now owns 18,388 shares of the company's stock worth $67,000 after buying an additional 6,051 shares during the period. Wells Fargo & Company MN raised its stake in Industrial Logistics Properties Trust by 27.6% during the 4th quarter. Wells Fargo & Company MN now owns 38,530 shares of the company's stock worth $141,000 after buying an additional 8,329 shares during the period. New Age Alpha Advisors LLC acquired a new position in Industrial Logistics Properties Trust during the 1st quarter worth approximately $34,000. Finally, Single Point Partners LLC acquired a new position in Industrial Logistics Properties Trust during the 1st quarter worth approximately $36,000. 49.08% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Industrial Logistics Properties Trust

In other Industrial Logistics Properties Trust news, Director Kevin C. Phelan purchased 5,000 shares of the firm's stock in a transaction that occurred on Thursday, July 31st. The stock was bought at an average cost of $5.43 per share, with a total value of $27,150.00. Following the completion of the transaction, the director owned 15,500 shares of the company's stock, valued at $84,165. The trade was a 47.62% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 1.80% of the company's stock.

Wall Street Analyst Weigh In

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

Industrial Logistics Properties Trust Stock Up 0.3%

Industrial Logistics Properties Trust stock traded up $0.02 during trading on Tuesday, hitting $6.15. 313,071 shares of the company were exchanged, compared to its average volume of 450,526. The business's 50 day moving average is $5.64 and its 200 day moving average is $4.19. Industrial Logistics Properties Trust has a 52 week low of $2.45 and a 52 week high of $6.32. The company has a market capitalization of $407.99 million, a P/E ratio of -4.39 and a beta of 2.39. The company has a current ratio of 4.13, a quick ratio of 4.13 and a debt-to-equity ratio of 4.43.

Industrial Logistics Properties Trust Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 14th. Investors of record on Monday, July 21st were given a dividend of $0.05 per share. The ex-dividend date of this dividend was Monday, July 21st. This is a positive change 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 3.3%. Industrial Logistics Properties Trust's dividend payout ratio (DPR) is -14.29%.

Industrial Logistics Properties Trust 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.