Industrial Logistics Properties Trust (NASDAQ:ILPT) Lifted to “Buy” at Zacks Investment Research

Zacks Investment Research upgraded shares of Industrial Logistics Properties Trust (NASDAQ:ILPT) from a hold rating to a buy rating in a research report sent to investors on Friday, Zacks.com reports. They currently have $21.00 price target on the stock.

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. “

ILPT has been the topic of several other research reports. B. Riley lowered their price objective on shares of Industrial Logistics Properties Trust from $29.00 to $27.00 and set a buy rating on the stock in a report on Friday, May 1st. ValuEngine downgraded shares of Industrial Logistics Properties Trust from a hold rating to a sell rating in a report on Wednesday, April 1st. BidaskClub downgraded shares of Industrial Logistics Properties Trust from a hold rating to a sell rating in a report on Thursday, March 19th. Finally, Royal Bank of Canada restated a hold rating and set a $22.00 price objective on shares of Industrial Logistics Properties Trust in a report on Monday, March 9th. Three analysts have rated the stock with a sell rating, one has given a hold rating and two have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and a consensus target price of $23.33.

Industrial Logistics Properties Trust stock opened at $18.75 on Friday. The company has a quick ratio of 5.19, a current ratio of 5.19 and a debt-to-equity ratio of 1.24. Industrial Logistics Properties Trust has a 12-month low of $12.95 and a 12-month high of $24.18. The firm’s fifty day moving average is $17.46 and its 200 day moving average is $20.07. The company has a market capitalization of $1.22 billion, a PE ratio of 10.30, a PEG ratio of 2.40 and a beta of 0.93.

Industrial Logistics Properties Trust (NASDAQ:ILPT) last released its earnings results on Thursday, April 30th. The company reported $0.20 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.26 by ($0.06). Industrial Logistics Properties Trust had a net margin of 19.62% and a return on equity of 4.72%. The company had revenue of $64.28 million for the quarter, compared to analyst estimates of $63.20 million. Sell-side analysts expect that Industrial Logistics Properties Trust will post 1.78 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 21st. Shareholders of record on Thursday, April 16th were issued a dividend of $0.33 per share. The ex-dividend date of this dividend was Wednesday, April 15th. This represents a $1.32 annualized dividend and a yield of 7.04%. Industrial Logistics Properties Trust’s payout ratio is 75.00%.

Several hedge funds have recently made changes to their positions in the company. State of Tennessee Treasury Department raised its holdings in shares of Industrial Logistics Properties Trust by 139.7% in the first quarter. State of Tennessee Treasury Department now owns 41,650 shares of the company’s stock valued at $730,000 after purchasing an additional 24,276 shares during the last quarter. Advisor Group Holdings Inc. purchased a new stake in shares of Industrial Logistics Properties Trust in the first quarter valued at about $580,000. Invesco Ltd. raised its holdings in shares of Industrial Logistics Properties Trust by 191.5% in the first quarter. Invesco Ltd. now owns 1,257,192 shares of the company’s stock valued at $22,052,000 after purchasing an additional 825,941 shares during the last quarter. Balyasny Asset Management LLC raised its holdings in shares of Industrial Logistics Properties Trust by 18.4% in the first quarter. Balyasny Asset Management LLC now owns 448,545 shares of the company’s stock valued at $7,867,000 after purchasing an additional 69,864 shares during the last quarter. Finally, Cohen & Steers Inc. purchased a new stake in shares of Industrial Logistics Properties Trust in the first quarter valued at about $176,000. Institutional investors own 90.70% 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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