Industrial Logistics Properties Trust (NASDAQ:ILPT) Reaches New 1-Year High – Still a Buy?

Industrial Logistics Properties Trust (NASDAQ:ILPT)’s share price hit a new 52-week high during trading on Friday . The stock traded as high as $9.37 and last traded at $9.31, with a volume of 31536 shares trading hands. The stock had previously closed at $9.19.

Wall Street Analyst Weigh In

ILPT has been the topic of several recent research reports. B. Riley Financial restated a “buy” rating on shares of Industrial Logistics Properties Trust in a research report on Thursday, April 23rd. Weiss Ratings lowered Industrial Logistics Properties Trust from a “sell (d)” rating to a “sell (d-)” rating in a research note on Thursday, May 28th. Zacks Research cut Industrial Logistics Properties Trust from a “strong-buy” rating to a “hold” rating in a report on Wednesday. Wall Street Zen upgraded Industrial Logistics Properties Trust from a “hold” rating to a “buy” rating in a research report on Saturday, May 23rd. Finally, Loop Capital set a $11.50 price target on Industrial Logistics Properties Trust in a research note on Wednesday. One investment analyst has rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $11.50.

Industrial Logistics Properties Trust Stock Performance

The company has a debt-to-equity ratio of 4.74, a quick ratio of 4.24 and a current ratio of 4.24. The stock has a 50-day moving average of $8.74 and a 200-day moving average of $7.04. The firm has a market cap of $625.36 million, a price-to-earnings ratio of -11.46 and a beta of 2.50.

Industrial Logistics Properties Trust (NASDAQ:ILPT) last posted its quarterly earnings data on Wednesday, April 29th. The company reported ($0.14) earnings per share (EPS) 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 company had revenue of $116.42 million for the quarter, compared to the consensus estimate of $114.82 million. As a group, analysts anticipate that Industrial Logistics Properties Trust will post 1.34 EPS for the current fiscal year.

Industrial Logistics Properties Trust Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 13th. Stockholders of record on Monday, July 20th will be paid a dividend of $0.10 per share. The ex-dividend date is Monday, July 20th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 4.3%. This is a positive change from Industrial Logistics Properties Trust’s previous quarterly dividend of $0.05. Industrial Logistics Properties Trust’s dividend payout ratio (DPR) is currently -48.78%.

Hedge Funds Weigh In On Industrial Logistics Properties Trust

Hedge funds have recently modified their holdings of the stock. UMB Bank n.a. bought a new stake in Industrial Logistics Properties Trust during the fourth quarter worth about $7,092,000. Millennium Management LLC increased its position in shares of Industrial Logistics Properties Trust by 181.2% during the 3rd quarter. Millennium Management LLC now owns 1,308,289 shares of the company’s stock worth $7,627,000 after purchasing an additional 843,033 shares during the last quarter. Nantahala Capital Management LLC increased its position in shares of Industrial Logistics Properties Trust by 27.9% during the 2nd quarter. Nantahala Capital Management LLC now owns 3,206,219 shares of the company’s stock worth $14,588,000 after purchasing an additional 699,975 shares during the last quarter. Invesco Ltd. raised its stake in shares of Industrial Logistics Properties Trust by 201.2% during the 3rd quarter. Invesco Ltd. now owns 551,302 shares of the company’s stock worth $3,214,000 after purchasing an additional 368,294 shares in the last quarter. Finally, Inspire Investing LLC bought a new stake in shares of Industrial Logistics Properties Trust during the 4th quarter worth approximately $1,263,000. 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.