Industrial Logistics Properties Trust (NASDAQ:ILPT) Sets New 1-Year High - What's Next?

Key Points

• Industrial Logistics Properties Trust hit a new 52-week high on Monday, trading as high as $8.30 before closing at $8.04.
• Analyst sentiment remains mixed: the stock has a consensus Hold rating with an average target price of $7.40, while recent calls ranged from Buy to Sell.
• The company recently beat earnings estimates, reporting a smaller-than-expected loss of $0.14 per share and revenue of $116.42 million, and it also declared a quarterly dividend of $0.05 per share.

Industrial Logistics Properties Trust (NASDAQ:ILPT - Get Free Report) shares hit a new 52-week high during trading on Monday . The stock traded as high as $8.30 and last traded at $8.04, with a volume of 73661 shares. The stock had previously closed at $8.15.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Zacks Research lowered shares of Industrial Logistics Properties Trust from a "strong-buy" rating to a "hold" rating in a report on Friday, May 1st. B. Riley Financial restated a "buy" rating on shares of Industrial Logistics Properties Trust in a report on Thursday, April 23rd. Weiss Ratings restated a "sell (d)" rating on shares of Industrial Logistics Properties Trust in a report on Monday, April 27th. Finally, Loop Capital set a $7.40 price objective on shares of Industrial Logistics Properties Trust in a report on Tuesday, March 3rd. One equities research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $7.40.

Industrial Logistics Properties Trust Stock Down 4.0%

The stock's 50 day simple moving average is $6.28 and its two-hundred day simple moving average is $5.83. The firm has a market cap of $521.65 million, a P/E ratio of -9.54 and a beta of 2.47. 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 (NASDAQ:ILPT - Get Free Report) last announced its earnings results on Wednesday, April 29th. The company reported ($0.14) earnings per share for the quarter, beating analysts' consensus estimates of ($0.20) by $0.06. Industrial Logistics Properties Trust had a negative net margin of 11.93% and a negative return on equity of 5.93%. The business had revenue of $116.42 million during the quarter, compared to the consensus estimate of $114.82 million. As a group, research analysts forecast that Industrial Logistics Properties Trust will post 1.34 earnings per share for the current year.

Industrial Logistics Properties Trust Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 14th. Investors of record on Tuesday, April 21st will be given a dividend of $0.05 per share. The ex-dividend date of this dividend is Tuesday, April 21st. This represents a $0.20 annualized dividend and a dividend yield of 2.6%. Industrial Logistics Properties Trust's dividend payout ratio (DPR) is -24.39%.

Institutional Investors Weigh In On Industrial Logistics Properties Trust

Several institutional investors and hedge funds have recently made changes to their positions in ILPT. Quarry LP bought a new stake in shares of Industrial Logistics Properties Trust during the third quarter valued at approximately $28,000. Advisory Services Network LLC purchased a new position in shares of Industrial Logistics Properties Trust during the 3rd quarter worth $34,000. Royal Bank of Canada boosted its stake 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 acquiring an additional 5,224 shares during the last quarter. Strs Ohio purchased a new position in shares of Industrial Logistics Properties Trust during the 1st quarter worth $42,000. Finally, Retirement Planning Co of New England Inc. purchased a new position in shares of Industrial Logistics Properties Trust during the 4th quarter worth $56,000. Institutional investors own 49.08% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.