Industrial Logistics Properties Trust (NASDAQ:ILPT) Short Interest Down 22.6% in August

Key Points

• Industrial Logistics Properties Trust (NASDAQ:ILPT) experienced a 22.6% decline in short interest during August, reducing the total to 1,030,000 shares.
• Director Kevin C. Phelan significantly increased his stake by purchasing 5,000 shares at an average price of $5.43 each, raising his total shares to 15,500.
• The company recently increased its quarterly dividend from $0.01 to $0.05, translating to a 3.1% dividend yield.

Industrial Logistics Properties Trust (NASDAQ:ILPT - Get Free Report) saw a significant decline in short interest during the month of August. As of August 31st, there was short interest totaling 1,030,000 shares, a decline of 22.6% from the August 15th total of 1,330,000 shares. Based on an average daily volume of 558,800 shares, the days-to-cover ratio is currently 1.8 days. Approximately 2.0% of the company's shares are short sold. Approximately 2.0% of the company's shares are short sold. Based on an average daily volume of 558,800 shares, the days-to-cover ratio is currently 1.8 days.

Industrial Logistics Properties Trust Stock Down 3.7%

Industrial Logistics Properties Trust stock traded down $0.24 during trading hours on Friday, hitting $6.21. The stock had a trading volume of 800,591 shares, compared to its average volume of 399,321. The company has a quick ratio of 4.13, a current ratio of 4.13 and a debt-to-equity ratio of 4.43. The stock has a market capitalization of $411.97 million, a P/E ratio of -4.44 and a beta of 2.39. Industrial Logistics Properties Trust has a 12-month low of $2.45 and a 12-month high of $6.57. The stock's 50-day moving average price is $5.88 and its 200-day moving average price is $4.32.

Industrial Logistics Properties Trust Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 14th. Shareholders of record on Monday, July 21st were issued a dividend of $0.05 per share. This is an increase from Industrial Logistics Properties Trust's previous quarterly dividend of $0.01. This represents a $0.20 dividend on an annualized basis and a yield of 3.2%. The ex-dividend date of this dividend was Monday, July 21st. Industrial Logistics Properties Trust's dividend payout ratio is currently -14.29%.

Insider Buying and Selling

In other news, Director Kevin C. Phelan purchased 5,000 shares of the business's stock in a transaction on Thursday, July 31st. The shares were acquired at an average price of $5.43 per share, with a total value of $27,150.00. Following the completion of the transaction, the director owned 15,500 shares of the company's stock, valued at $84,165. The trade was a 47.62% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 1.80% of the company's stock.

Institutional Trading of Industrial Logistics Properties Trust

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. New Age Alpha Advisors LLC purchased a new stake in Industrial Logistics Properties Trust during the first quarter valued at approximately $34,000. Single Point Partners LLC purchased a new stake in shares of Industrial Logistics Properties Trust in the first quarter worth $36,000. PNC Financial Services Group Inc. increased its stake in shares of Industrial Logistics Properties Trust by 125.7% in the second quarter. PNC Financial Services Group Inc. now owns 7,881 shares of the company's stock worth $36,000 after purchasing an additional 4,389 shares in the last quarter. Strs Ohio purchased a new stake in shares of Industrial Logistics Properties Trust in the first quarter worth $42,000. Finally, Ground Swell Capital LLC purchased a new stake in shares of Industrial Logistics Properties Trust in the second quarter worth $54,000. 49.08% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Separately, Zacks Research lowered shares of Industrial Logistics Properties Trust from a "strong-buy" rating to a "strong sell" rating in a research note on Monday, August 18th. One investment analyst has rated the stock with a Strong Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $5.00.

About Industrial Logistics Properties Trust

Industrial Logistics Properties Trust Nasdaq: ILPT is a real estate investment trust, or REIT, focused on owning and leasing high quality distribution and logistics properties. As of December 31, 2023, ILPT's portfolio consisted of 411 properties containing approximately 60 million rentable square feet located in 39 states.