Industrial Logistics Properties Trust (ILPT) Reaches New 1-Year High at $24.02

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Industrial Logistics Properties Trust (NASDAQ:ILPT) hit a new 52-week high during mid-day trading on Friday . The stock traded as high as $24.02 and last traded at $24.01, with a volume of 1845 shares changing hands. The stock had previously closed at $23.95.

Several equities research analysts recently weighed in on the company. Royal Bank of Canada restated a “buy” rating and issued a $26.00 target price on shares of Industrial Logistics Properties Trust in a report on Tuesday, July 31st. Zacks Investment Research upgraded Industrial Logistics Properties Trust from a “hold” rating to a “buy” rating and set a $23.00 target price for the company in a report on Wednesday, May 2nd. Finally, Bank of America restated a “neutral” rating on shares of Industrial Logistics Properties Trust in a report on Thursday, June 28th. One analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the stock. Industrial Logistics Properties Trust has an average rating of “Hold” and a consensus target price of $25.50.

The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.05.

Industrial Logistics Properties Trust (NASDAQ:ILPT) last posted its earnings results on Friday, July 27th. The company reported $0.29 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.43 by ($0.14). The company had revenue of $39.42 million during the quarter, compared to analysts’ expectations of $39.58 million. research analysts predict that Industrial Logistics Properties Trust will post 1.64 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Monday, August 13th. Investors of record on Monday, July 30th were issued a $0.33 dividend. This is a positive change from Industrial Logistics Properties Trust’s previous quarterly dividend of $0.27. This represents a $1.32 annualized dividend and a yield of 5.49%. The ex-dividend date of this dividend was Friday, July 27th.

A number of institutional investors and hedge funds have recently bought and sold shares of ILPT. Fort Washington Investment Advisors Inc. OH acquired a new stake in Industrial Logistics Properties Trust in the 1st quarter worth approximately $570,000. Wells Fargo & Company MN acquired a new position in shares of Industrial Logistics Properties Trust during the first quarter worth approximately $243,000. Rhumbline Advisers acquired a new position in shares of Industrial Logistics Properties Trust during the first quarter worth approximately $393,000. Sumitomo Mitsui Trust Holdings Inc. acquired a new position in shares of Industrial Logistics Properties Trust during the first quarter worth approximately $392,000. Finally, Advantus Capital Management Inc acquired a new position in shares of Industrial Logistics Properties Trust during the first quarter worth approximately $2,441,000. Hedge funds and other institutional investors own 31.73% of the company’s stock.

About Industrial Logistics Properties Trust (NASDAQ:ILPT)

Industrial Logistics Properties Trust is focused on the ownership and leasing of industrial and logistics properties throughout the United States. The Company owns 266 properties with a total of approximately 28.5 million square feet, including: 226 buildings, leasable land parcels and easements totaling approximately 16.8 million square feet located on the island of Oahu, Hawaii; and 40 properties with approximately 11.7 million square feet located in 24 other states.

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