Royal Bank of Canada Takes $3.66 Million Position in Industrial Logistics Properties Trust (NASDAQ:ILPT)

Royal Bank of Canada acquired a new stake in shares of Industrial Logistics Properties Trust (NASDAQ:ILPT) during the second quarter, HoldingsChannel.com reports. The fund acquired 175,818 shares of the company’s stock, valued at approximately $3,661,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Capital Investment Advisory Services LLC acquired a new stake in Industrial Logistics Properties Trust in the 2nd quarter valued at approximately $34,000. AdvisorNet Financial Inc acquired a new stake in Industrial Logistics Properties Trust in the 2nd quarter valued at approximately $61,000. US Bancorp DE acquired a new stake in Industrial Logistics Properties Trust in the 2nd quarter valued at approximately $84,000. Quantamental Technologies LLC acquired a new stake in Industrial Logistics Properties Trust in the 2nd quarter valued at approximately $108,000. Finally, New York State Teachers Retirement System acquired a new stake in Industrial Logistics Properties Trust in the 2nd quarter valued at approximately $119,000. 89.78% of the stock is currently owned by institutional investors and hedge funds.

ILPT traded up $0.01 during midday trading on Monday, reaching $21.22. The company’s stock had a trading volume of 4,747 shares, compared to its average volume of 256,108. The company has a fifty day simple moving average of $21.50 and a 200 day simple moving average of $20.61. The company has a current ratio of 3.20, a quick ratio of 3.20 and a debt-to-equity ratio of 1.34. Industrial Logistics Properties Trust has a twelve month low of $18.03 and a twelve month high of $22.65. The stock has a market cap of $1.38 billion, a P/E ratio of 13.17 and a beta of 0.93.

Industrial Logistics Properties Trust (NASDAQ:ILPT) last announced its quarterly earnings data on Tuesday, July 30th. The company reported $0.20 EPS for the quarter, missing the Zacks’ consensus estimate of $0.44 by ($0.24). Industrial Logistics Properties Trust had a return on equity of 6.47% and a net margin of 35.17%. The firm had revenue of $60.09 million during the quarter, compared to the consensus estimate of $56.59 million. Sell-side analysts expect that Industrial Logistics Properties Trust will post 1.77 earnings per share for the current year.

ILPT has been the topic of a number of research analyst reports. Royal Bank of Canada lowered Industrial Logistics Properties Trust from an “outperform” rating to a “sector perform” rating and lowered their target price for the company from $23.00 to $22.00 in a report on Wednesday, August 7th. Zacks Investment Research raised Industrial Logistics Properties Trust from a “hold” rating to a “strong-buy” rating and set a $25.00 target price on the stock in a report on Friday, August 2nd.

Industrial Logistics Properties Trust 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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Institutional Ownership by Quarter for Industrial Logistics Properties Trust (NASDAQ:ILPT)

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