Industrial Logistics Properties Trust (ILPT) Rating Lowered to Sell at Zacks Investment Research

Zacks Investment Research cut shares of Industrial Logistics Properties Trust (NASDAQ:ILPT) from a hold rating to a sell rating in a research report report published on Wednesday morning.

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. “

A number of other equities analysts have also 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 research note on Tuesday, July 31st. B. Riley set a $29.00 target price on Industrial Logistics Properties Trust and gave the stock a buy rating in a research note on Monday, October 29th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company’s stock. The company has an average rating of Hold and a consensus target price of $25.33.

Shares of NASDAQ ILPT opened at $22.22 on Wednesday. The company has a debt-to-equity ratio of 0.42, a current ratio of 4.71 and a quick ratio of 4.71. Industrial Logistics Properties Trust has a twelve month low of $17.21 and a twelve month high of $24.70.

Industrial Logistics Properties Trust (NASDAQ:ILPT) last announced its earnings results on Friday, October 26th. The company reported $0.28 earnings per share for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.13). The business had revenue of $40.43 million during the quarter, compared to the consensus estimate of $40.29 million. Industrial Logistics Properties Trust had a return on equity of 7.80% and a net margin of 44.65%. Equities analysts predict that Industrial Logistics Properties Trust will post 1.62 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 12th. Shareholders of record on Monday, October 29th will be paid a $0.33 dividend. The ex-dividend date of this dividend is Friday, October 26th. This represents a $1.32 dividend on an annualized basis and a yield of 5.94%.

Several institutional investors and hedge funds have recently bought and sold shares of the company. Sei Investments Co. boosted its holdings in shares of Industrial Logistics Properties Trust by 3.0% in the 2nd quarter. Sei Investments Co. now owns 86,071 shares of the company’s stock worth $1,924,000 after purchasing an additional 2,543 shares in the last quarter. B. Riley Financial Inc. boosted its holdings in shares of Industrial Logistics Properties Trust by 21.8% in the 2nd quarter. B. Riley Financial Inc. now owns 17,927 shares of the company’s stock worth $401,000 after purchasing an additional 3,213 shares in the last quarter. Alliancebernstein L.P. boosted its holdings in shares of Industrial Logistics Properties Trust by 21.3% in the 3rd quarter. Alliancebernstein L.P. now owns 20,200 shares of the company’s stock worth $465,000 after purchasing an additional 3,550 shares in the last quarter. Rhumbline Advisers boosted its holdings in shares of Industrial Logistics Properties Trust by 21.8% in the 2nd quarter. Rhumbline Advisers now owns 23,526 shares of the company’s stock worth $526,000 after purchasing an additional 4,216 shares in the last quarter. Finally, Western Standard LLC boosted its holdings in shares of Industrial Logistics Properties Trust by 1.4% in the 2nd quarter. Western Standard LLC now owns 363,268 shares of the company’s stock worth $8,119,000 after purchasing an additional 4,956 shares in the last quarter. Hedge funds and other institutional investors own 32.12% of the company’s stock.

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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