Industrial Logistics Properties Trust $ILPT Stake Raised by Renaissance Technologies LLC

Key Points

• Renaissance Technologies increased its ILPT stake by 59.8% in the first quarter to 458,989 shares, while institutional investors collectively own 49.08% of the company.
• ILPT reported quarterly EPS of -$0.22, missing estimates by $0.03, and revenue of $114.12 million, below the $116.10 million consensus forecast.
• The company doubled its quarterly dividend to $0.10 per share, equivalent to a 4.6% annualized yield, while analysts maintain a consensus “Hold” rating and an $11.50 price target.

Renaissance Technologies LLC boosted its holdings in shares of Industrial Logistics Properties Trust (NASDAQ:ILPT - Free Report) by 59.8% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 458,989 shares of the company's stock after acquiring an additional 171,689 shares during the quarter. Renaissance Technologies LLC owned 0.69% of Industrial Logistics Properties Trust worth $2,607,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Tudor Investment Corp ET AL purchased a new stake in shares of Industrial Logistics Properties Trust in the third quarter worth approximately $922,000. Arrowstreet Capital Limited Partnership purchased a new position in Industrial Logistics Properties Trust during the first quarter valued at approximately $1,243,000. GSA Capital Partners LLP increased its stake in Industrial Logistics Properties Trust by 70.9% in the 4th quarter. GSA Capital Partners LLP now owns 175,973 shares of the company's stock valued at $975,000 after buying an additional 73,033 shares during the period. CastleKnight Management LP increased its stake in Industrial Logistics Properties Trust by 8.8% in the 4th quarter. CastleKnight Management LP now owns 1,911,859 shares of the company's stock valued at $10,592,000 after buying an additional 154,200 shares during the period. Finally, Hillsdale Investment Management Inc. purchased a new stake in Industrial Logistics Properties Trust in the 4th quarter worth approximately $351,000. Hedge funds and other institutional investors own 49.08% of the company's stock.

Industrial Logistics Properties Trust Price Performance

Industrial Logistics Properties Trust stock opened at $8.78 on Monday. The company has a market capitalization of $586.07 million, a P/E ratio of -12.19 and a beta of 2.49. The firm's fifty day simple moving average is $8.80 and its 200-day simple moving average is $7.26. The company has a current ratio of 4.11, a quick ratio of 4.11 and a debt-to-equity ratio of 4.97. Industrial Logistics Properties Trust has a 1-year low of $4.92 and a 1-year high of $9.43.

Industrial Logistics Properties Trust (NASDAQ:ILPT - Get Free Report) last issued its quarterly earnings data 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). The business had revenue of $114.12 million during the quarter, compared to the consensus estimate of $116.10 million. Industrial Logistics Properties Trust had a negative return on equity of 5.34% and a negative net margin of 10.37%. Sell-side analysts forecast that Industrial Logistics Properties Trust will post 1.34 earnings per share for the current fiscal year.

Industrial Logistics Properties Trust Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 13th. Stockholders of record on Monday, July 20th will be paid a dividend of $0.10 per share. This is a boost from Industrial Logistics Properties Trust's previous quarterly dividend of $0.05. The ex-dividend date is Monday, July 20th. This represents a $0.40 annualized dividend and a dividend yield of 4.6%. Industrial Logistics Properties Trust's dividend payout ratio is currently -55.56%.

Analyst Ratings Changes

ILPT has been the subject of a number of research reports. Weiss Ratings raised shares of Industrial Logistics Properties Trust from a "sell (d-)" rating to a "sell (d)" rating in a research note on Thursday, July 30th. Zacks Research lowered Industrial Logistics Properties Trust from a "strong-buy" rating to a "hold" rating in a report on Wednesday, July 22nd. Wall Street Zen cut Industrial Logistics Properties Trust from a "buy" rating to a "hold" rating in a research report on Saturday, August 1st. B. Riley Financial restated a "buy" rating on shares of Industrial Logistics Properties Trust in a research note on Thursday, April 23rd. Finally, Loop Capital set a $11.50 target price on Industrial Logistics Properties Trust in a research report on Wednesday, July 22nd. One investment analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Industrial Logistics Properties Trust has an average rating of "Hold" and a consensus target price of $11.50.

Industrial Logistics Properties Trust Company Profile

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.

Want to see what other hedge funds are holding ILPT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Industrial Logistics Properties Trust (NASDAQ:ILPT - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source