Industrial Logistics Properties Trust (NASDAQ:ILPT) Upgraded to Strong-Buy by Zacks Investment Research

Zacks Investment Research upgraded shares of Industrial Logistics Properties Trust (NASDAQ:ILPT) from a hold rating to a strong-buy rating in a research note issued to investors on Friday, Zacks.com reports. They currently have $25.00 target price 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. “

NASDAQ:ILPT traded up $0.22 during midday trading on Friday, hitting $21.50. 212,713 shares of the stock were exchanged, compared to its average volume of 454,526. Industrial Logistics Properties Trust has a one year low of $18.03 and a one year high of $24.70. The company has a market cap of $1.40 billion, a P/E ratio of 13.35 and a beta of 0.94. The company’s 50-day moving average price is $20.76. The company has a debt-to-equity ratio of 0.73, a current ratio of 3.61 and a quick ratio of 3.61.

Industrial Logistics Properties Trust (NASDAQ:ILPT) last announced its earnings results on Tuesday, July 30th. The company reported $0.20 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.44 by ($0.24). Industrial Logistics Properties Trust had a return on equity of 6.99% and a net margin of 42.85%. The firm had revenue of $60.09 million for the quarter, compared to the consensus estimate of $56.59 million. As a group, analysts forecast that Industrial Logistics Properties Trust will post 1.71 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 15th. Investors of record on Monday, July 29th will be issued a dividend of $0.33 per share. The ex-dividend date is Friday, July 26th. This represents a $1.32 annualized dividend and a yield of 6.14%. Industrial Logistics Properties Trust’s payout ratio is 81.99%.

Large investors have recently made changes to their positions in the stock. Emerald Advisers LLC bought a new position in shares of Industrial Logistics Properties Trust in the second quarter valued at $15,793,000. J. L. Bainbridge & Co. Inc. bought a new position in shares of Industrial Logistics Properties Trust in the second quarter valued at $10,086,000. Peregrine Capital Management LLC bought a new position in shares of Industrial Logistics Properties Trust in the second quarter valued at $9,105,000. Emerald Mutual Fund Advisers Trust bought a new position in shares of Industrial Logistics Properties Trust in the second quarter valued at $8,471,000. Finally, Garnet Equity Capital Holdings Inc. bought a new position in shares of Industrial Logistics Properties Trust in the second quarter valued at $3,853,000. 88.67% of the stock is currently owned by hedge funds and other institutional investors.

About Industrial Logistics Properties Trust

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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