Industrial Logistics Properties Trust (ILPT) Downgraded by Zacks Investment Research

Zacks Investment Research downgraded shares of Industrial Logistics Properties Trust (NASDAQ:ILPT) from a buy rating to a hold rating in a research note released on Wednesday.

According to Zacks, “Industrial Logistics Properties Trust is focused on the ownership and leasing of industrial and logistics properties primarily in the United States. The Company’s properties include Hawaii properties, Mainland properties’ leases, Hawaii properties’ leases and Mainland properties. Industrial Logistics Properties Trust is based in NEWTON, United States. “

Other equities research analysts have also issued research reports about the stock. B. Riley set a $29.00 price objective on shares of Industrial Logistics Properties Trust and gave the stock a buy rating in a research report on Monday, October 29th. Royal Bank of Canada reissued a buy rating and issued a $26.00 price objective on shares of Industrial Logistics Properties Trust in a research report on Tuesday, July 31st. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The company presently has a consensus rating of Buy and a consensus target price of $25.33.

NASDAQ:ILPT opened at $21.57 on Wednesday. The company has a quick ratio of 5.27, a current ratio of 4.71 and a debt-to-equity ratio of 0.42. Industrial Logistics Properties Trust has a fifty-two week low of $17.21 and a fifty-two week high of $24.70.

Industrial Logistics Properties Trust (NASDAQ:ILPT) last released its quarterly earnings data on Friday, October 26th. The company reported $0.28 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.41 by ($0.13). Industrial Logistics Properties Trust had a return on equity of 7.80% and a net margin of 44.65%. The business had revenue of $40.43 million during the quarter, compared to analyst estimates of $40.29 million. Sell-side analysts forecast that Industrial Logistics Properties Trust will post 1.64 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 12th. Stockholders of record on Monday, October 29th will be given a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 6.12%. The ex-dividend date is Friday, October 26th.

Several institutional investors have recently added to or reduced their stakes in the company. Acadian Asset Management LLC acquired a new stake in shares of Industrial Logistics Properties Trust in the third quarter worth $145,000. TCW Group Inc. grew its holdings in Industrial Logistics Properties Trust by 62.8% during the 3rd quarter. TCW Group Inc. now owns 576,169 shares of the company’s stock valued at $13,258,000 after purchasing an additional 222,337 shares in the last quarter. Russell Investments Group Ltd. acquired a new stake in Industrial Logistics Properties Trust during the 3rd quarter valued at $5,549,000. Massachusetts Financial Services Co. MA grew its holdings in Industrial Logistics Properties Trust by 121.2% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,500,309 shares of the company’s stock valued at $34,522,000 after purchasing an additional 822,097 shares in the last quarter. Finally, Pensionfund DSM Netherlands grew its holdings in Industrial Logistics Properties Trust by 23.3% during the 3rd quarter. Pensionfund DSM Netherlands now owns 59,200 shares of the company’s stock valued at $1,362,000 after purchasing an additional 11,200 shares in the last quarter. 30.54% of the stock is owned by institutional investors.

Industrial Logistics Properties Trust Company Profile

Industrial Logistics Properties Trust is a real estate investment trust, or REIT, that owns and leases industrial and logistics properties throughout the United States. ILPT is managed by the operating subsidiary of The RMR Group Inc (Nasdaq: RMR), an alternative asset management company that is headquartered in Newton, MA.

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