Industrial Logistics Properties Trust (NASDAQ:ILPT) Rating Lowered to Strong Sell at Zacks Research

Key Points

• Industrial Logistics Properties Trust (NASDAQ:ILPT) was downgraded from a "strong-buy" to a "strong sell" rating by analysts at Zacks Research.
• B. Riley initiated coverage on the stock with a "buy" rating and a price target of $5.00, while the current consensus rating is "Moderate Buy."
• Insider buying activity increased, as Director Kevin C. Phelan acquired 5,000 shares, boosting his ownership by 47.62%, signaling potential confidence in the company.

Industrial Logistics Properties Trust (NASDAQ:ILPT - Get Free Report) was downgraded by analysts at Zacks Research from a "strong-buy" rating to a "strong sell" rating in a report issued on Monday,Zacks.com reports.

Separately, B. Riley started coverage on shares of Industrial Logistics Properties Trust in a report on Friday, May 9th. They issued a "buy" rating and a $5.00 price objective for the company. One investment analyst has rated the stock with a Strong Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Industrial Logistics Properties Trust presently has an average rating of "Moderate Buy" and a consensus target price of $5.00.

Industrial Logistics Properties Trust Price Performance

Shares of NASDAQ ILPT opened at $5.9350 on Monday. Industrial Logistics Properties Trust has a twelve month low of $2.45 and a twelve month high of $6.23. The firm has a market cap of $393.73 million, a P/E ratio of -4.24 and a beta of 2.33. The company has a 50 day moving average of $5.14 and a 200 day moving average of $3.97. The company has a quick ratio of 4.13, a current ratio of 4.13 and a debt-to-equity ratio of 4.43.

Insiders Place Their Bets

In other Industrial Logistics Properties Trust news, Director Kevin C. Phelan acquired 5,000 shares of the business's stock in a transaction dated Thursday, July 31st. The stock was purchased at an average price of $5.43 per share, with a total value of $27,150.00. Following the transaction, the director directly owned 15,500 shares in the company, valued at approximately $84,165. The trade was a 47.62% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Joseph Morea bought 20,000 shares of the company's stock in a transaction that occurred on Friday, May 30th. The stock was purchased at an average cost of $3.31 per share, with a total value of $66,200.00. Following the acquisition, the director directly owned 112,191 shares in the company, valued at $371,352.21. This trade represents a 21.69% increase in their position. The disclosure for this purchase can be found here. Insiders own 1.80% of the company's stock.

Institutional Trading of Industrial Logistics Properties Trust

Several hedge funds have recently made changes to their positions in ILPT. New Age Alpha Advisors LLC purchased a new stake in shares of Industrial Logistics Properties Trust during the 1st quarter valued at about $34,000. Single Point Partners LLC purchased a new stake in Industrial Logistics Properties Trust in the 1st quarter worth about $36,000. PNC Financial Services Group Inc. raised its position in Industrial Logistics Properties Trust by 125.7% in the 2nd quarter. PNC Financial Services Group Inc. now owns 7,881 shares of the company's stock worth $36,000 after purchasing an additional 4,389 shares during the period. First Trust Advisors LP purchased a new stake in Industrial Logistics Properties Trust in the 4th quarter worth about $39,000. Finally, Strs Ohio purchased a new stake in Industrial Logistics Properties Trust in the 1st quarter worth about $42,000. 49.08% of the stock is currently owned by hedge funds and other institutional investors.

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.

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