Industrial Logistics Properties Trust (NASDAQ:ILPT) Increases Dividend to $0.10 Per Share

Key Points

• Industrial Logistics Properties Trust raised its quarterly dividend to $0.10 per share from $0.05, a 100% increase. Shareholders of record on July 20 will be paid on August 13.
• The new dividend implies an annualized yield of about 4.5%, but the company’s current payout ratio is negative, indicating it is not fully covering the dividend with earnings yet.
• ILPT shares rose 4.3% to $8.94 on the announcement day. The company also recently reported a smaller-than-expected quarterly loss and revenue slightly above estimates.

Industrial Logistics Properties Trust (NASDAQ:ILPT - Get Free Report) declared a quarterly dividend on Thursday, July 9th. Stockholders of record on Monday, July 20th will be paid a dividend of 0.10 per share on Thursday, August 13th. This represents a c) annualized dividend and a dividend yield of 4.5%. The ex-dividend date of this dividend is Monday, July 20th. This is a 100.0% increase from Industrial Logistics Properties Trust's previous quarterly dividend of $0.05.

Industrial Logistics Properties Trust has decreased its dividend payment by an average of 0.4%annually over the last three years. Industrial Logistics Properties Trust has a dividend payout ratio of -17.5% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect Industrial Logistics Properties Trust to earn $1.43 per share next year, which means the company should continue to be able to cover its $0.20 annual dividend with an expected future payout ratio of 14.0%.

Industrial Logistics Properties Trust Stock Up 4.3%

Shares of NASDAQ ILPT traded up $0.37 during trading on Thursday, hitting $8.94. 553,215 shares of the company traded hands, compared to its average volume of 413,206. The firm has a market capitalization of $596.03 million, a price-to-earnings ratio of -10.90 and a beta of 2.50. The business's fifty day moving average is $8.47 and its 200 day moving average is $6.77. The company has a debt-to-equity ratio of 4.74, a quick ratio of 4.24 and a current ratio of 4.24. Industrial Logistics Properties Trust has a fifty-two week low of $4.78 and a fifty-two week high of $9.37.

Industrial Logistics Properties Trust (NASDAQ:ILPT - Get Free Report) last issued its earnings results on Wednesday, April 29th. The company reported ($0.14) EPS for the quarter, beating the consensus estimate of ($0.20) by $0.06. Industrial Logistics Properties Trust had a negative return on equity of 5.93% and a negative net margin of 11.93%.The company had revenue of $116.42 million during the quarter, compared to the consensus estimate of $114.82 million. Equities research analysts predict that Industrial Logistics Properties Trust will post 1.34 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Vanguard Group Inc. grew its holdings in Industrial Logistics Properties Trust by 0.5% during the third quarter. Vanguard Group Inc. now owns 3,244,244 shares of the company's stock worth $18,914,000 after buying an additional 15,006 shares in the last quarter. Nantahala Capital Management LLC lifted its stake in Industrial Logistics Properties Trust by 27.9% during the 2nd quarter. Nantahala Capital Management LLC now owns 3,206,219 shares of the company's stock valued at $14,588,000 after acquiring an additional 699,975 shares in the last quarter. CastleKnight Management LP boosted its position in Industrial Logistics Properties Trust by 8.8% in the fourth quarter. CastleKnight Management LP now owns 1,911,859 shares of the company's stock worth $10,592,000 after purchasing an additional 154,200 shares during the last quarter. Millennium Management LLC grew its stake in Industrial Logistics Properties Trust by 181.2% in the 3rd quarter. Millennium Management LLC now owns 1,308,289 shares of the company's stock valued at $7,627,000 after purchasing an additional 843,033 shares during the period. Finally, UMB Bank n.a. purchased a new stake in shares of Industrial Logistics Properties Trust during the 4th quarter valued at $7,092,000. Institutional investors own 49.08% of the company's stock.

About Industrial Logistics Properties Trust

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.

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