Industrial Logistics Properties Trust (NASDAQ:ILPT) Sees Large Decrease in Short Interest

Industrial Logistics Properties Trust (NASDAQ:ILPT) was the target of a large decline in short interest in September. As of September 15th, there was short interest totalling 2,030,000 shares, a decline of 9.4% from the August 31st total of 2,240,000 shares. Currently, 3.5% of the company’s stock are sold short. Based on an average trading volume of 664,900 shares, the days-to-cover ratio is currently 3.1 days.

Institutional Investors Weigh In On Industrial Logistics Properties Trust

Several hedge funds and other institutional investors have recently modified their holdings of ILPT. Renaissance Technologies LLC increased its position in shares of Industrial Logistics Properties Trust by 162.9% in the 2nd quarter. Renaissance Technologies LLC now owns 454,300 shares of the company’s stock worth $1,672,000 after purchasing an additional 281,500 shares during the last quarter. CastleKnight Management LP increased its position in shares of Industrial Logistics Properties Trust by 36.6% in the 4th quarter. CastleKnight Management LP now owns 844,879 shares of the company’s stock worth $3,971,000 after purchasing an additional 226,500 shares during the last quarter. Bank of New York Mellon Corp bought a new stake in shares of Industrial Logistics Properties Trust in the 2nd quarter worth about $741,000. Deerfield Management Company L.P. Series C bought a new stake in shares of Industrial Logistics Properties Trust in the 2nd quarter worth about $542,000. Finally, Rhumbline Advisers increased its position in shares of Industrial Logistics Properties Trust by 499.3% in the 2nd quarter. Rhumbline Advisers now owns 101,945 shares of the company’s stock worth $375,000 after purchasing an additional 84,933 shares during the last quarter. Institutional investors own 49.08% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on ILPT shares. B. Riley lifted their target price on shares of Industrial Logistics Properties Trust from $9.00 to $10.00 and gave the company a “buy” rating in a report on Monday, August 5th. JMP Securities reaffirmed a “market perform” rating on shares of Industrial Logistics Properties Trust in a research note on Wednesday, July 3rd.

Industrial Logistics Properties Trust Stock Performance

Industrial Logistics Properties Trust stock opened at $4.76 on Tuesday. Industrial Logistics Properties Trust has a 12-month low of $2.21 and a 12-month high of $5.45. The company has a market capitalization of $313.36 million, a price-to-earnings ratio of -2.90 and a beta of 1.80. The company has a debt-to-equity ratio of 3.96, a current ratio of 5.09 and a quick ratio of 5.09. The firm’s fifty day moving average price is $4.91 and its 200 day moving average price is $4.26.

Industrial Logistics Properties Trust Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Monday, July 22nd were given a $0.01 dividend. This represents a $0.04 annualized dividend and a dividend yield of 0.84%. The ex-dividend date of this dividend was Monday, July 22nd. Industrial Logistics Properties Trust’s payout ratio is currently -2.44%.

Industrial Logistics Properties Trust Company Profile

Industrial Logistics Properties Trust (Nasdaq: ILPT) is a real estate investment trust, or REIT, focused on owning and leasing high quality distribution and logistics properties. As of December 31, 2023, ILPT's portfolio consisted of 411 properties containing approximately 60 million rentable square feet located in 39 states.