Industrial Logistics Properties Trust (NASDAQ:ILPT) Brief Interest Update

Industrial Logistics Property Trust (NASDAQ: ILPTGet a rating) benefited from a sharp fall in short-term interest rates in October. As of October 15, there was short interest totaling 1,750,000 shares, down 5.9% from the September 30 total of 1,860,000 shares. Based on an average daily trading volume of 1,190,000 shares, the day-to-cover ratio is currently 1.5 days. Currently, 2.7% of the company’s shares are sold short.

Institutional investors weigh in on Industrial Logistics Properties Trust

Several hedge funds have recently changed their positions in ILPT. CWM LLC increased its equity stake in Industrial Logistics Properties Trust by 1,058.2% in Q3. CWM LLC now owns 5,571 shares of the company worth $31,000 after purchasing an additional 5,090 shares during the period. ACG Wealth acquired a new position in Industrial Logistics Properties Trust during Q2 worth approximately $45,000. Point72 Hong Kong Ltd increased its equity stake in Industrial Logistics Properties Trust by 198.9% in the first quarter. Point72 Hong Kong Ltd now owns 2,107 shares of the company valued at $48,000 after purchasing an additional 1,402 shares during the period. Mitsubishi UFJ Trust & Banking Corp increased its stake in shares of Industrial Logistics Properties Trust by 295.6% in the second quarter. Mitsubishi UFJ Trust & Banking Corp now owns 4,945 shares of the company worth $70,000 after buying 3,695 additional shares in the last quarter. Finally, Van ECK Associates Corp increased its stake in shares of Industrial Logistics Properties Trust by 15.1% in the first quarter. Van ECK Associates Corp now owns 5,819 shares of the company worth $132,000 after buying an additional 762 shares in the last quarter. 85.51% of the shares are currently held by hedge funds and other institutional investors.

Industrial Logistics Property Trust Stock Performance

NASDAQ ILPT opened at $4.68 on Tuesday. The company has a debt ratio of 3.12, a current ratio of 2.62 and a quick ratio of 2.62. The company’s 50-day moving average price is $6.19 and its 200-day moving average price is $10.95. Industrial Logistics Properties Trust has a fifty-two week low of $4.49 and a fifty-two week high of $28.66.

Industrial Logistics Properties Trust Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 17. Shareholders of record on Monday, October 24 will receive a dividend of $0.01. This represents an annualized dividend of $0.04 and a dividend yield of 0.85%. The ex-dividend date is Friday, October 21. Industrial Logistics Properties Trust’s dividend payout ratio is -1.97%.

Changes to analyst ratings

Separately, B. Riley cut his price target on shares of Industrial Logistics Properties Trust from $13.00 to $11.00 in a research note on Friday.

About Industrial Logistics Properties Trust

(Get a rating)

ILPT is a real estate investment trust, or REIT, that owns and leases industrial and logistics properties across the United States. ILPT is managed by the operating subsidiary of The RMR Group Inc (Nasdaq: RMR), an alternative asset management firm headquartered in Newton, MA.

See also

This instant news alert was powered by MarketBeat’s narrative science technology and financial data to provide readers with the fastest and most accurate reports. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send questions or comments about this story to contact@marketbeat.com.

Before you consider Industrial Logistics Properties Trust, you’ll want to hear this.

MarketBeat tracks daily the highest rated and most successful research analysts on Wall Street and the stocks they recommend to their clients. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the market spreads…and Industrial Logistics Properties Trust was not on the list.

Although Industrial Logistics Properties Trust currently has a “Hold” rating among analysts, top-rated analysts believe these five stocks are better buys.

See the five actions here