Insider Buying: Industrial Logistics Properties Trust (NASDAQ:ILPT) Director Acquires $12,020.00 in Stock

Key Points

• Director Kevin Phelan bought 2,000 ILPT shares for $12,020 at an average price of $6.01, increasing his direct holdings by 26.67% to 9,500 shares.
• ILPT shares fell 3.7% to $6.06 in Thursday trading. The company’s latest quarterly loss of $0.46 per share was worse than the $0.14 loss analysts expected, while revenue also came in slightly below estimates.
• The trust announced a quarterly dividend of $0.10 per share, equivalent to a 6.6% annualized yield. Analysts’ average rating was Hold, with a consensus price target of $10.50.

Industrial Logistics Properties Trust (NASDAQ:ILPT - Get Free Report) Director Kevin Phelan purchased 2,000 shares of Industrial Logistics Properties Trust stock in a transaction on Monday, November 9th. The stock was bought at an average cost of $6.01 per share, with a total value of $12,020.00. Following the transaction, the director directly owned 9,500 shares of the company's stock, valued at approximately $57,095. The trade was a 26.67% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link.

Industrial Logistics Properties Trust Stock Down 3.7%

Shares of NASDAQ ILPT traded down $0.23 during mid-day trading on Thursday, reaching $6.06. 393,219 shares of the company traded hands, compared to its average volume of 404,279. The company has a debt-to-equity ratio of 5.27, a quick ratio of 3.78 and a current ratio of 3.78. The stock has a market cap of $405.90 million, a PE ratio of -7.13 and a beta of 2.55. The company's fifty day moving average is $7.17 and its two-hundred day moving average is $7.37. Industrial Logistics Properties Trust has a fifty-two week low of $5.01 and a fifty-two week high of $9.43.

Industrial Logistics Properties Trust (NASDAQ:ILPT - Get Free Report) last posted its earnings results on Wednesday, October 28th. The company reported ($0.46) earnings per share for the quarter, missing the consensus estimate of ($0.14) by ($0.32). The company had revenue of $116.81 million during the quarter, compared to analyst estimates of $117.48 million. Industrial Logistics Properties Trust had a negative return on equity of 6.54% and a negative net margin of 12.12%. On average, analysts expect that Industrial Logistics Properties Trust will post 1.26 earnings per share for the current year.

Industrial Logistics Properties Trust Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 12th. Stockholders of record on Monday, October 19th will be paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 6.6%. The ex-dividend date is Monday, October 19th. Industrial Logistics Properties Trust's payout ratio is presently -47.06%.

Analysts Set New Price Targets

Several research firms recently issued reports on ILPT. Zacks Research downgraded shares of Industrial Logistics Properties Trust from a "strong-buy" rating to a "hold" rating in a report on Wednesday, October 28th. B. Riley Financial dropped their target price on shares of Industrial Logistics Properties Trust from $11.00 to $10.00 and set a "buy" rating on the stock in a report on Monday, November 2nd. Loop Capital set a $11.50 target price on shares of Industrial Logistics Properties Trust in a research report on Wednesday, July 22nd. Weiss Ratings restated a "sell (d)" rating on shares of Industrial Logistics Properties Trust in a report on Wednesday, October 28th. Finally, Freedom Broker decreased their price target on shares of Industrial Logistics Properties Trust from $11.00 to $10.00 and set a "buy" rating for the company in a report on Tuesday, November 3rd. Two investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $10.50.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in ILPT. Ieq Capital LLC bought a new position in Industrial Logistics Properties Trust during the third quarter worth $230,000. Voya Investment Management LLC raised its stake in Industrial Logistics Properties Trust by 46.4% during the 3rd quarter. Voya Investment Management LLC now owns 78,990 shares of the company's stock valued at $561,000 after purchasing an additional 25,043 shares during the last quarter. Russell Investments Group Ltd. boosted its holdings in Industrial Logistics Properties Trust by 31.2% in the 3rd quarter. Russell Investments Group Ltd. now owns 469,099 shares of the company's stock valued at $3,331,000 after purchasing an additional 111,458 shares during the period. Allspring Global Investments Holdings LLC boosted its holdings in Industrial Logistics Properties Trust by 89.7% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 181,519 shares of the company's stock valued at $1,265,000 after purchasing an additional 85,808 shares during the period. Finally, State of Wyoming bought a new stake in Industrial Logistics Properties Trust in the 3rd quarter valued at $294,000. 49.08% of the stock is owned by institutional investors.

Industrial Logistics Properties Trust Company Profile

Industrial Logistics Properties Trust is a real estate investment trust that owns and leases industrial and logistics properties, including warehouses and distribution facilities. Its properties support activities such as storage, shipping and product distribution. The trust's portfolio serves tenants across the United States, including in Hawaii. Its properties are generally positioned to support regional and national supply chains. Formed in 2017, Industrial Logistics Properties Trust is externally managed by The RMR Group, a real estate management company.

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