Industrial Logistics Properties Trust (NASDAQ:ILPT) Reaches New 1-Year High - Still a Buy?

Key Points

• Industrial Logistics Properties Trust hit a new 52-week high of $9.37, extending a recent rally as the stock traded above its prior close.
• Analyst sentiment is mixed but generally cautious: the consensus rating is Hold with an average price target of $11.50, after recent upgrades and downgrades from multiple firms.
• The REIT reported better-than-expected quarterly results and raised its dividend to $0.10 per share quarterly, boosting the annualized yield to about 4.3%.

Industrial Logistics Properties Trust (NASDAQ:ILPT - Get Free Report)'s stock price reached a new 52-week high during trading on Friday . The company traded as high as $9.37 and last traded at $9.31, with a volume of 31536 shares trading hands. The stock had previously closed at $9.19.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on ILPT shares. Zacks Research cut shares of Industrial Logistics Properties Trust from a "strong-buy" rating to a "hold" rating in a research note on Wednesday. B. Riley Financial restated a "buy" rating on shares of Industrial Logistics Properties Trust in a research report on Thursday, April 23rd. Loop Capital set a $11.50 price target on Industrial Logistics Properties Trust in a report on Wednesday. Weiss Ratings downgraded Industrial Logistics Properties Trust from a "sell (d)" rating to a "sell (d-)" rating in a research report on Thursday, May 28th. Finally, Wall Street Zen raised Industrial Logistics Properties Trust from a "hold" rating to a "buy" rating in a research note on Saturday, May 23rd. One equities research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Industrial Logistics Properties Trust presently has an average rating of "Hold" and an average target price of $11.50.

Industrial Logistics Properties Trust Price Performance

The company has a quick ratio of 4.24, a current ratio of 4.24 and a debt-to-equity ratio of 4.74. The stock's 50-day moving average price is $8.74 and its 200-day moving average price is $7.04. The company has a market capitalization of $625.36 million, a price-to-earnings ratio of -11.46 and a beta of 2.50.

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

Industrial Logistics Properties Trust Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 13th. Stockholders of record on Monday, July 20th will be paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 4.3%. This is a boost from Industrial Logistics Properties Trust's previous quarterly dividend of $0.05. The ex-dividend date of this dividend is Monday, July 20th. Industrial Logistics Properties Trust's payout ratio is currently -48.78%.

Institutional Trading of Industrial Logistics Properties Trust

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Quarry LP acquired a new position in Industrial Logistics Properties Trust during the 3rd quarter valued at about $28,000. Advisory Services Network LLC acquired a new stake in shares of Industrial Logistics Properties Trust during the 3rd quarter worth approximately $34,000. Royal Bank of Canada grew its position in shares of Industrial Logistics Properties Trust by 387.2% during the 4th quarter. Royal Bank of Canada now owns 6,573 shares of the company's stock worth $36,000 after buying an additional 5,224 shares during the period. Strs Ohio bought a new stake in shares of Industrial Logistics Properties Trust during the first quarter worth approximately $42,000. Finally, Retirement Planning Co of New England Inc. bought a new stake in shares of Industrial Logistics Properties Trust during the fourth quarter worth approximately $56,000. 49.08% of the stock is currently owned by institutional investors and hedge funds.

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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