Industrial Logistics Properties Trust (NASDAQ:ILPT) Plans Dividend Increase - $0.05 Per Share

Industrial Logistics Properties Trust (NASDAQ:ILPT - Get Free Report) announced a quarterly dividend on Saturday, July 12th, RTT News reports. Shareholders of record on Monday, July 21st will be paid a dividend of 0.05 per share on Thursday, August 14th. This represents a $0.20 annualized dividend and a yield of 3.62%. The ex-dividend date is Monday, July 21st. This is a 400.0% increase from Industrial Logistics Properties Trust's previous quarterly dividend of $0.01.

Industrial Logistics Properties Trust has a dividend payout ratio of -3.5% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments.

Industrial Logistics Properties Trust Trading Up 2.4%

NASDAQ ILPT traded up $0.13 during trading hours on Friday, hitting $5.52. The company's stock had a trading volume of 1,206,993 shares, compared to its average volume of 401,845. The stock has a fifty day moving average of $3.83 and a 200 day moving average of $3.60. Industrial Logistics Properties Trust has a twelve month low of $2.45 and a twelve month high of $5.58. The firm has a market capitalization of $365.09 million, a P/E ratio of -3.86 and a beta of 2.30. The company has a quick ratio of 5.16, a current ratio of 5.16 and a debt-to-equity ratio of 4.40.

Industrial Logistics Properties Trust (NASDAQ:ILPT - Get Free Report) last posted its earnings results on Tuesday, April 29th. The company reported $0.20 earnings per share for the quarter. Industrial Logistics Properties Trust had a negative net margin of 21.22% and a negative return on equity of 9.11%. The company had revenue of $111.91 million for the quarter.

Insider Activity

In related news, Director Joseph Morea bought 20,000 shares of the business's stock in a transaction dated Friday, May 30th. The stock was bought at an average price of $3.31 per share, for a total transaction of $66,200.00. Following the purchase, the director owned 112,191 shares in the company, valued at $371,352.21. This represents a 21.69% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 1.80% of the company's stock.

Institutional Trading of Industrial Logistics Properties Trust

An institutional investor recently bought a new position in Industrial Logistics Properties Trust stock. Strs Ohio bought a new stake in Industrial Logistics Properties Trust (NASDAQ:ILPT - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 12,200 shares of the company's stock, valued at approximately $42,000. Institutional investors own 49.08% of the company's stock.

Analyst Ratings Changes

Separately, B. Riley started coverage on shares of Industrial Logistics Properties Trust in a research report on Friday, May 9th. They issued a "buy" rating and a $5.00 price objective for the company.

Industrial Logistics Properties Trust Company 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.