Algert Global LLC Trims Stake in Industrial Logistics Properties Trust (NASDAQ:ILPT)

Algert Global LLC lessened its holdings in Industrial Logistics Properties Trust (NASDAQ:ILPT) by 6.7% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 47,147 shares of the company’s stock after selling 3,365 shares during the period. Algert Global LLC owned 0.07% of Industrial Logistics Properties Trust worth $172,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Nantahala Capital Management LLC grew its position in Industrial Logistics Properties Trust by 86.4% during the fourth quarter. Nantahala Capital Management LLC now owns 2,107,893 shares of the company’s stock worth $7,694,000 after buying an additional 976,761 shares in the last quarter. HTLF Bank boosted its position in shares of Industrial Logistics Properties Trust by 11.5% during the 4th quarter. HTLF Bank now owns 1,280,150 shares of the company’s stock valued at $4,673,000 after acquiring an additional 131,587 shares during the last quarter. Thrivent Financial for Lutherans grew its holdings in shares of Industrial Logistics Properties Trust by 28.1% during the fourth quarter. Thrivent Financial for Lutherans now owns 603,250 shares of the company’s stock worth $2,202,000 after purchasing an additional 132,158 shares in the last quarter. Anson Funds Management LP grew its holdings in shares of Industrial Logistics Properties Trust by 1.7% during the fourth quarter. Anson Funds Management LP now owns 567,175 shares of the company’s stock worth $2,070,000 after purchasing an additional 9,731 shares in the last quarter. Finally, Northern Trust Corp increased its position in shares of Industrial Logistics Properties Trust by 2.0% in the fourth quarter. Northern Trust Corp now owns 541,038 shares of the company’s stock worth $1,975,000 after purchasing an additional 10,562 shares during the last quarter. Hedge funds and other institutional investors own 49.08% of the company’s stock.

Wall Street Analyst Weigh In

Separately, B. Riley assumed coverage on shares of Industrial Logistics Properties Trust in a research report on Friday, May 9th. They set a “buy” rating and a $5.00 target price for the company.

Industrial Logistics Properties Trust Stock Performance

NASDAQ ILPT opened at $3.15 on Wednesday. Industrial Logistics Properties Trust has a 52-week low of $2.45 and a 52-week high of $5.45. The company has a fifty day moving average of $3.09 and a 200-day moving average of $3.50. The company has a market capitalization of $208.35 million, a P/E ratio of -2.16 and a beta of 2.14. The company has a debt-to-equity ratio of 4.26, a quick ratio of 4.53 and a current ratio of 4.84.

Industrial Logistics Properties Trust (NASDAQ:ILPT) last released its quarterly earnings results on Tuesday, April 29th. The company reported $0.20 earnings per share for the quarter. Industrial Logistics Properties Trust had a negative return on equity of 8.98% and a negative net margin of 21.63%. The business had revenue of $111.91 million for the quarter.

Industrial Logistics Properties Trust Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Tuesday, April 22nd will be issued a dividend of $0.01 per share. The ex-dividend date of this dividend is Tuesday, April 22nd. This represents a $0.04 dividend on an annualized basis and a dividend yield of 1.27%. Industrial Logistics Properties Trust’s dividend payout ratio is -2.80%.

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.