Short Interest in Industrial Logistics Properties Trust (NASDAQ:ILPT) Increases By 44.1%

Key Points

• Short interest in Industrial Logistics Properties Trust (NASDAQ:ILPT) increased by 44.1% in August, reaching a total of 1,330,000 shares.
• The company recently declared a quarterly dividend of $0.05 per share, which is an increase from the previous dividend of $0.01, leading to a 3.3% dividend yield.
• Analysts have downgraded the stock from a "strong-buy" to a "strong sell," while it currently holds a consensus rating of "Moderate Buy" with a price target of $5.00.

Industrial Logistics Properties Trust (NASDAQ:ILPT - Get Free Report) was the recipient of a large increase in short interest during the month of August. As of August 15th, there was short interest totaling 1,330,000 shares, anincreaseof44.1% from the July 31st total of 923,200 shares. Based on an average daily volume of 535,300 shares, the short-interest ratio is presently 2.5 days. Currently,2.5% of the company's stock are sold short. Currently,2.5% of the company's stock are sold short. Based on an average daily volume of 535,300 shares, the short-interest ratio is presently 2.5 days.

Industrial Logistics Properties Trust Trading Down 0.3%

ILPT opened at $6.14 on Monday. The firm has a market capitalization of $407.33 million, a price-to-earnings ratio of -4.39 and a beta of 2.39. The company has a debt-to-equity ratio of 4.43, a current ratio of 4.13 and a quick ratio of 4.13. The company's 50 day simple moving average is $5.57 and its two-hundred day simple moving average is $4.16. Industrial Logistics Properties Trust has a 1-year low of $2.45 and a 1-year high of $6.32.

Industrial Logistics Properties Trust Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, August 14th. Stockholders of record on Monday, July 21st were given a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 3.3%. The ex-dividend date of this dividend was Monday, July 21st. This is a boost from Industrial Logistics Properties Trust's previous quarterly dividend of $0.01. Industrial Logistics Properties Trust's dividend payout ratio is presently -14.29%.

Wall Street Analysts Forecast Growth

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

Insider Activity at Industrial Logistics Properties Trust

In other Industrial Logistics Properties Trust news, Director Kevin C. Phelan acquired 5,000 shares of the firm's stock in a transaction dated Thursday, July 31st. The stock was purchased at an average price of $5.43 per share, for a total transaction of $27,150.00. Following the acquisition, the director owned 15,500 shares in the company, valued at approximately $84,165. This trade represents a 47.62% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 1.80% of the company's stock.

Institutional Trading of Industrial Logistics Properties Trust

Several institutional investors have recently made changes to their positions in ILPT. PNC Financial Services Group Inc. raised its position in 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 valued at $36,000 after purchasing an additional 4,389 shares during the period. New Age Alpha Advisors LLC acquired a new position in shares of Industrial Logistics Properties Trust during the first quarter worth $34,000. Single Point Partners LLC acquired a new position in shares of Industrial Logistics Properties Trust during the first quarter worth $36,000. First Trust Advisors LP acquired a new position in shares of Industrial Logistics Properties Trust during the fourth quarter worth $39,000. Finally, Ground Swell Capital LLC acquired a new position in Industrial Logistics Properties Trust in the second quarter valued at $54,000. Hedge funds and other institutional investors own 49.08% of the company's stock.

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.

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