Zacks Investment Research Downgrades Industrial Logistics Properties Trust (NASDAQ:ILPT) to Hold

Zacks Investment Research lowered shares of Industrial Logistics Properties Trust (NASDAQ:ILPT) from a buy rating to a hold rating in a research report sent to investors on Wednesday morning, Zacks.com reports.

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 analysts have also recently issued reports about the stock. Royal Bank of Canada dropped their target price on shares of Industrial Logistics Properties Trust from $28.00 to $25.00 and set a sector perform rating for the company in a research report on Friday, November 26th. Berenberg Bank assumed coverage on shares of Industrial Logistics Properties Trust in a research report on Wednesday, October 20th. They set a hold rating and a $28.00 price objective for the company. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of Hold and an average target price of $29.40.

Shares of NASDAQ:ILPT opened at $24.55 on Wednesday. The firm has a 50 day moving average of $24.01 and a 200-day moving average of $25.90. The stock has a market capitalization of $1.61 billion, a PE ratio of 16.48, a PEG ratio of 5.29 and a beta of 1.10. The company has a current ratio of 6.98, a quick ratio of 6.98 and a debt-to-equity ratio of 1.00. Industrial Logistics Properties Trust has a 12 month low of $21.01 and a 12 month high of $28.66.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, February 17th. Investors of record on Monday, January 24th will be given a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 5.38%. The ex-dividend date of this dividend is Friday, January 21st. Industrial Logistics Properties Trust’s dividend payout ratio is 88.59%.

Hedge funds have recently added to or reduced their stakes in the stock. Total Clarity Wealth Management Inc. acquired a new position in Industrial Logistics Properties Trust during the 3rd quarter worth approximately $26,000. Point72 Hong Kong Ltd acquired a new position in Industrial Logistics Properties Trust in the 3rd quarter valued at approximately $26,000. Fifth Third Bancorp increased its position in Industrial Logistics Properties Trust by 235.5% in the 3rd quarter. Fifth Third Bancorp now owns 1,342 shares of the company’s stock valued at $34,000 after acquiring an additional 942 shares during the period. FORA Capital LLC acquired a new position in Industrial Logistics Properties Trust in the 2nd quarter valued at approximately $75,000. Finally, Van ECK Associates Corp increased its position in Industrial Logistics Properties Trust by 15.6% in the 3rd quarter. Van ECK Associates Corp now owns 3,030 shares of the company’s stock valued at $77,000 after acquiring an additional 409 shares during the period. Institutional investors and hedge funds own 83.54% of the company’s stock.

About Industrial Logistics Properties Trust

Industrial Logistics Properties Trust is a real estate investment trust, which owns and leases industrial and logistics buildings and leased industrial lands. The company was founded on September 15, 2017 and is headquartered in Newton, MA.

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Analyst Recommendations for Industrial Logistics Properties Trust (NASDAQ:ILPT)

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