Franklin Resources Inc. Reduces Stock Position in Industrial Logistics Properties Trust (NASDAQ:ILPT)

Franklin Resources Inc. lowered its stake in Industrial Logistics Properties Trust (NASDAQ:ILPT) by 34.4% in the 4th quarter, HoldingsChannel reports. The fund owned 74,665 shares of the company’s stock after selling 39,102 shares during the period. Franklin Resources Inc.’s holdings in Industrial Logistics Properties Trust were worth $273,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the stock. EMC Capital Management lifted its position in Industrial Logistics Properties Trust by 65.2% in the fourth quarter. EMC Capital Management now owns 13,319 shares of the company’s stock worth $49,000 after buying an additional 5,255 shares during the last quarter. Caprock Group LLC purchased a new position in shares of Industrial Logistics Properties Trust during the 4th quarter worth about $56,000. Silver Oak Securities Incorporated bought a new position in Industrial Logistics Properties Trust during the 4th quarter valued at about $65,000. Intech Investment Management LLC raised its position in Industrial Logistics Properties Trust by 94.4% in the 4th quarter. Intech Investment Management LLC now owns 28,892 shares of the company’s stock worth $105,000 after purchasing an additional 14,032 shares during the period. Finally, FMR LLC lifted its stake in Industrial Logistics Properties Trust by 16.9% in the third quarter. FMR LLC now owns 25,067 shares of the company’s stock worth $119,000 after purchasing an additional 3,632 shares during the last quarter. 49.08% of the stock is owned by institutional investors.

Industrial Logistics Properties Trust Trading Down 0.8 %

ILPT opened at $2.61 on Friday. Industrial Logistics Properties Trust has a one year low of $2.45 and a one year high of $5.45. The company has a debt-to-equity ratio of 4.26, a quick ratio of 4.53 and a current ratio of 4.84. The stock has a market cap of $172.64 million, a price-to-earnings ratio of -1.79 and a beta of 1.99. The stock’s 50 day moving average price is $3.49 and its 200-day moving average price is $3.70.

Industrial Logistics Properties Trust (NASDAQ:ILPT) last posted its quarterly earnings results on Tuesday, February 18th. The company reported $0.13 EPS for the quarter. Industrial Logistics Properties Trust had a negative net margin of 21.63% and a negative return on equity of 8.98%. The firm had revenue of $110.52 million for the quarter.

Industrial Logistics Properties Trust Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Tuesday, April 22nd will be paid a dividend of $0.01 per share. The ex-dividend date is Tuesday, April 22nd. This represents a $0.04 dividend on an annualized basis and a dividend yield of 1.53%. Industrial Logistics Properties Trust’s dividend payout ratio is presently -2.74%.

About Industrial Logistics Properties Trust

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.