Nuveen LLC Makes New $462,000 Investment in Industrial Logistics Properties Trust $ILPT

Key Points

• Nuveen LLC has acquired approximately 134,234 shares of Industrial Logistics Properties Trust, valued at about $462,000, representing a 0.20% ownership stake.
• Several institutional investors have increased their stakes in Industrial Logistics Properties Trust, with ProShare Advisors boosting their position by 49.0% during the fourth quarter.
• The company has increased its quarterly dividend to $0.05, yielding 3.2%, up from its previous dividend of $0.01.

Nuveen LLC acquired a new stake in shares of Industrial Logistics Properties Trust (NASDAQ:ILPT - Free Report) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 134,234 shares of the company's stock, valued at approximately $462,000. Nuveen LLC owned about 0.20% of Industrial Logistics Properties Trust as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. New Age Alpha Advisors LLC bought a new position in Industrial Logistics Properties Trust during the first quarter valued at $34,000. ProShare Advisors LLC grew its holdings 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 last quarter. Bank of America Corp DE grew its holdings 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 last quarter. First Trust Advisors LP bought a new position in shares of Industrial Logistics Properties Trust in the fourth quarter worth about $39,000. Finally, Wells Fargo & Company MN grew its holdings in shares of Industrial Logistics Properties Trust by 27.6% in the fourth quarter. Wells Fargo & Company MN now owns 38,530 shares of the company's stock worth $141,000 after purchasing an additional 8,329 shares during the last quarter. Institutional investors own 49.08% of the company's stock.

Industrial Logistics Properties Trust Trading Down 0.3%

Shares of NASDAQ ILPT traded down $0.02 during mid-day trading on Friday, reaching $6.14. The company had a trading volume of 360,812 shares, compared to its average volume of 462,565. Industrial Logistics Properties Trust has a 52 week low of $2.45 and a 52 week high of $6.32. The business's 50-day moving average is $5.57 and its 200-day moving average is $4.16. The stock has a market cap of $407.33 million, a price-to-earnings 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 announced a quarterly dividend, which was paid on Thursday, August 14th. Shareholders of record on Monday, July 21st were issued a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 3.3%. The ex-dividend date was Monday, July 21st. This is a positive change from Industrial Logistics Properties Trust's previous quarterly dividend of $0.01. Industrial Logistics Properties Trust's dividend payout ratio (DPR) is currently -14.29%.

Insider Transactions at Industrial Logistics Properties Trust

In other Industrial Logistics Properties Trust news, Director Kevin C. Phelan bought 5,000 shares of the company's stock in a transaction on Thursday, July 31st. The shares were bought at an average cost of $5.43 per share, for a total transaction of $27,150.00. Following the acquisition, the director directly owned 15,500 shares in the company, valued at approximately $84,165. The trade was a 47.62% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 1.80% of the stock is currently owned by insiders.

Analysts Set New Price Targets

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

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.