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

Industrial Logistics Properties Trust (NASDAQ:ILPT) saw a large decline in short interest in October. As of October 31st, there was short interest totalling 1,590,000 shares, a decline of 11.7% from the October 15th total of 1,800,000 shares. Based on an average daily trading volume, of 379,300 shares, the short-interest ratio is currently 4.2 days. Currently, 2.8% of the shares of the stock are short sold.

Institutional Trading of Industrial Logistics Properties Trust

A number of hedge funds have recently made changes to their positions in ILPT. SG Americas Securities LLC acquired a new position in shares of Industrial Logistics Properties Trust in the first quarter valued at approximately $59,000. Anson Funds Management LP increased its position in Industrial Logistics Properties Trust by 3.9% in the 1st quarter. Anson Funds Management LP now owns 652,128 shares of the company’s stock valued at $2,798,000 after acquiring an additional 24,297 shares during the period. Cetera Advisors LLC increased its position in Industrial Logistics Properties Trust by 68.0% in the 1st quarter. Cetera Advisors LLC now owns 18,311 shares of the company’s stock valued at $79,000 after acquiring an additional 7,413 shares during the period. Bright Futures Wealth Management LLC. acquired a new position in shares of Industrial Logistics Properties Trust during the first quarter worth $83,000. Finally, Bank of New York Mellon Corp bought a new stake in shares of Industrial Logistics Properties Trust in the second quarter worth $741,000. 49.08% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, B. Riley lifted their target price on Industrial Logistics Properties Trust from $9.00 to $10.00 and gave the company a “buy” rating in a research report on Monday, August 5th.

Industrial Logistics Properties Trust Price Performance

Industrial Logistics Properties Trust stock traded up $0.09 during mid-day trading on Monday, reaching $3.71. The company had a trading volume of 314,109 shares, compared to its average volume of 488,338. The business has a fifty day simple moving average of $4.33 and a 200 day simple moving average of $4.30. The company has a market cap of $245.39 million, a P/E ratio of -2.36 and a beta of 1.82. Industrial Logistics Properties Trust has a fifty-two week low of $2.82 and a fifty-two week high of $5.45. The company has a current ratio of 4.53, a quick ratio of 4.53 and a debt-to-equity ratio of 4.13.

Industrial Logistics Properties Trust Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Monday, October 28th were given a $0.01 dividend. The ex-dividend date was Monday, October 28th. This represents a $0.04 annualized dividend and a yield of 1.08%. Industrial Logistics Properties Trust’s dividend payout ratio is presently -2.55%.

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.