Industrial Logistics Properties Trust (NASDAQ:ILPT) Shares Gap Down - Time to Sell?

Key Points

• ILPT shares gapped down from $8.73 to an opening price of $8.07, later trading near $8.29. The stock’s average analyst rating is “Hold,” with an $11.50 consensus price target.
• The company reported quarterly EPS of $0.31, exceeding the consensus estimate of a $0.19 loss, while revenue of $114.12 million fell short of expectations. ILPT remains unprofitable, with a negative net margin of 11.93%.
• ILPT doubled its quarterly dividend to $0.10 per share, implying a $0.40 annualized payout and a 4.7% yield. Institutional investors and hedge funds own approximately 49.08% of the company.

Industrial Logistics Properties Trust (NASDAQ:ILPT - Get Free Report)'s stock price gapped down prior to trading on Thursday . The stock had previously closed at $8.73, but opened at $8.07. Industrial Logistics Properties Trust shares last traded at $8.2940, with a volume of 73,662 shares changing hands.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. Weiss Ratings lowered shares of Industrial Logistics Properties Trust from a "sell (d)" rating to a "sell (d-)" rating in a report on Thursday, May 28th. Loop Capital set a $11.50 price target on shares of Industrial Logistics Properties Trust in a report on Wednesday, July 22nd. Zacks Research lowered shares of Industrial Logistics Properties Trust from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, July 22nd. B. Riley Financial reaffirmed a "buy" rating on shares of Industrial Logistics Properties Trust in a research note on Thursday, April 23rd. Finally, Wall Street Zen upgraded Industrial Logistics Properties Trust from a "hold" rating to a "buy" rating in a report on Saturday, May 23rd. One equities research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Industrial Logistics Properties Trust currently has an average rating of "Hold" and an average target price of $11.50.

Industrial Logistics Properties Trust Price Performance

The company has a market capitalization of $562.03 million, a price-to-earnings ratio of -10.14 and a beta of 2.50. 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 company has a 50 day simple moving average of $8.81 and a 200 day simple moving average of $7.13.

Industrial Logistics Properties Trust (NASDAQ:ILPT - Get Free Report) last posted its earnings results on Wednesday, July 29th. The company reported $0.31 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.19) by $0.50. Industrial Logistics Properties Trust had a negative net margin of 11.93% and a negative return on equity of 5.93%. The firm had revenue of $114.12 million during the quarter, compared to the consensus estimate of $116.10 million. As a group, research analysts predict that Industrial Logistics Properties Trust will post 1.34 EPS for the current year.

Industrial Logistics Properties Trust Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 13th. Shareholders of record on Monday, July 20th will be paid a dividend of $0.10 per share. This is an increase from Industrial Logistics Properties Trust's previous quarterly dividend of $0.05. This represents a $0.40 annualized dividend and a yield of 4.7%. The ex-dividend date is Monday, July 20th. Industrial Logistics Properties Trust's payout ratio is presently -48.78%.

Hedge Funds Weigh In On Industrial Logistics Properties Trust

Several hedge funds and other institutional investors have recently made changes to their positions in ILPT. Strs Ohio purchased a new position in Industrial Logistics Properties Trust in the 1st quarter worth approximately $42,000. Rhumbline Advisers grew its position in shares of Industrial Logistics Properties Trust by 16.3% during the 2nd quarter. Rhumbline Advisers now owns 95,564 shares of the company's stock valued at $435,000 after buying an additional 13,418 shares during the last quarter. XTX Topco Ltd acquired a new position in Industrial Logistics Properties Trust during the 2nd quarter valued at approximately $200,000. Marshall Wace LLP boosted its holdings in shares of Industrial Logistics Properties Trust by 163.9% during the second quarter. Marshall Wace LLP now owns 84,725 shares of the company's stock valued at $385,000 after acquiring an additional 52,623 shares during the period. Finally, Jump Financial LLC acquired a new stake in shares of Industrial Logistics Properties Trust in the second quarter valued at approximately $188,000. Institutional investors and hedge funds 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.

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