Russell Investments Group Ltd. Acquires 841,750 Shares of Industrial Logistics Properties Trust $ILPT

Key Points

• Russell Investments Group Ltd. increased its stake in Industrial Logistics Properties Trust by 7,332.3%, acquiring a total of 853,230 shares, valued at approximately $2.93 million.
• The company recently announced a dividend increase, raising its quarterly payout from $0.01 to $0.05 per share, resulting in an annual yield of 3.3%.
• Analysts' ratings for Industrial Logistics Properties Trust vary, with Zacks Research downgrading the stock from "strong-buy" to "strong sell," while B. Riley initiated coverage with a "buy" rating and $5.00 target price.

Russell Investments Group Ltd. raised its position in shares of Industrial Logistics Properties Trust (NASDAQ:ILPT - Free Report) by 7,332.3% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 853,230 shares of the company's stock after acquiring an additional 841,750 shares during the period. Russell Investments Group Ltd. owned approximately 1.29% of Industrial Logistics Properties Trust worth $2,935,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. New Age Alpha Advisors LLC acquired a new position in shares of Industrial Logistics Properties Trust in the first quarter valued at approximately $34,000. Single Point Partners LLC acquired a new position in shares of Industrial Logistics Properties Trust in the first quarter valued at approximately $36,000. First Trust Advisors LP acquired a new position in shares of Industrial Logistics Properties Trust in the fourth quarter valued at approximately $39,000. ProShare Advisors LLC grew 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 valued at $67,000 after purchasing an additional 6,051 shares during the last quarter. Finally, XTX Topco Ltd acquired a new position in shares of Industrial Logistics Properties Trust in the fourth quarter valued at approximately $89,000. Institutional investors and hedge funds own 49.08% of the company's stock.

Industrial Logistics Properties Trust Price Performance

Shares of ILPT stock traded up $0.12 during trading on Friday, hitting $6.16. The company had a trading volume of 647,750 shares, compared to its average volume of 554,282. The company has a debt-to-equity ratio of 4.43, a quick ratio of 4.13 and a current ratio of 4.13. The firm has a market capitalization of $408.65 million, a P/E ratio of -4.40 and a beta of 2.33. The stock's 50-day moving average price is $5.43 and its 200 day moving average price is $4.08. Industrial Logistics Properties Trust has a one year low of $2.45 and a one year high of $6.32.

Industrial Logistics Properties Trust Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, August 14th. Investors of record on Monday, July 21st were paid a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 3.2%. This is an increase from Industrial Logistics Properties Trust's previous quarterly dividend of $0.01. The ex-dividend date was Monday, July 21st. Industrial Logistics Properties Trust's dividend payout ratio is presently -14.29%.

Analysts Set New Price Targets

Several research firms have recently commented on ILPT. B. Riley began coverage on Industrial Logistics Properties Trust in a research report on Friday, May 9th. They issued a "buy" rating and a $5.00 target price on the stock. Zacks Research downgraded Industrial Logistics Properties Trust from a "strong-buy" rating to a "strong sell" rating in a research report on Monday, August 18th. One research analyst has rated the stock with a Strong Buy rating and one has given a Sell rating to the stock. According to MarketBeat.com, Industrial Logistics Properties Trust currently has a consensus rating of "Moderate Buy" and an average price target of $5.00.

Insider Activity

In related news, Director Kevin C. Phelan purchased 5,000 shares of the business's stock in a transaction that occurred on Thursday, July 31st. The stock was acquired at an average cost of $5.43 per share, for a total transaction of $27,150.00. Following the completion of the purchase, the director owned 15,500 shares in the company, valued at approximately $84,165. This represents a 47.62% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 1.80% of the company's stock.

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.