Industrial Logistics Properties Trust (NASDAQ:ILPT) Releases Quarterly Earnings Results

Key Points

• Quarterly results fell short of expectations: Industrial Logistics Properties Trust reported an adjusted loss of $0.22 per share, versus the $0.19 loss analysts expected, while revenue of $114.12 million also missed the $116.10 million consensus estimate.
• The company doubled its quarterly dividend to $0.10 per share, implying an annualized dividend of $0.40 and a 4.6% yield.
• Shares traded at $8.73 following the release, while analysts maintained a consensus “Hold” rating with an $11.50 price target; institutional investors own approximately 49.1% of the stock.

Industrial Logistics Properties Trust (NASDAQ:ILPT - Get Free Report) announced its earnings results on Wednesday. The company reported ($0.22) earnings per share for the quarter, missing the consensus estimate of ($0.19) by ($0.03), FiscalAI reports. The company had revenue of $114.12 million during the quarter, compared to analysts' expectations of $116.10 million. Industrial Logistics Properties Trust had a negative net margin of 11.93% and a negative return on equity of 5.93%.

Industrial Logistics Properties Trust Price Performance

Shares of NASDAQ ILPT traded down $0.32 during trading on Wednesday, hitting $8.73. 341,017 shares of the company were exchanged, compared to its average volume of 414,522. The company has a market cap of $582.36 million, a price-to-earnings ratio of -10.65 and a beta of 2.50. Industrial Logistics Properties Trust has a 1 year low of $4.92 and a 1 year high of $9.43. The firm's fifty day moving average price is $8.80 and its 200 day moving average price is $7.11. The company has a debt-to-equity ratio of 4.74, a current ratio of 4.24 and a quick ratio of 4.24.

Industrial Logistics Properties Trust Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 13th. Shareholders of record on Monday, July 20th will be given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 4.6%. The ex-dividend date is Monday, July 20th. This is an increase from Industrial Logistics Properties Trust's previous quarterly dividend of $0.05. Industrial Logistics Properties Trust's payout ratio is presently -48.78%.

Hedge Funds Weigh In On Industrial Logistics Properties Trust

A number of large investors have recently made changes to their positions in the stock. UMB Bank n.a. acquired a new stake in shares of Industrial Logistics Properties Trust in the fourth quarter valued at approximately $7,092,000. Millennium Management LLC raised its position in shares of Industrial Logistics Properties Trust by 181.2% during the 3rd quarter. Millennium Management LLC now owns 1,308,289 shares of the company's stock worth $7,627,000 after purchasing an additional 843,033 shares during the last quarter. Nantahala Capital Management LLC raised its position in shares of 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 worth $14,588,000 after purchasing an additional 699,975 shares during the last quarter. Invesco Ltd. lifted its stake in Industrial Logistics Properties Trust by 201.2% in the 3rd quarter. Invesco Ltd. now owns 551,302 shares of the company's stock valued at $3,214,000 after buying an additional 368,294 shares in the last quarter. Finally, Inspire Investing LLC purchased a new stake in Industrial Logistics Properties Trust in the 4th quarter valued at approximately $1,263,000. Hedge funds and other institutional investors own 49.08% of the company's stock.

Analyst Ratings Changes

Several analysts have recently commented on ILPT shares. B. Riley Financial restated a "buy" rating on shares of Industrial Logistics Properties Trust in a research note on Thursday, April 23rd. Wall Street Zen raised shares of Industrial Logistics Properties Trust from a "hold" rating to a "buy" rating in a report on Saturday, May 23rd. Loop Capital set a $11.50 price objective on shares of Industrial Logistics Properties Trust in a research report on Wednesday, July 22nd. Weiss Ratings lowered Industrial Logistics Properties Trust from a "sell (d)" rating to a "sell (d-)" rating in a report on Thursday, May 28th. Finally, Zacks Research cut Industrial Logistics Properties Trust from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, July 22nd. One equities research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $11.50.

Industrial Logistics Properties Trust Company Profile

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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