Sumitomo Mitsui Trust Holdings Inc. sells 2,731 shares of Industrial Logistics Properties Trust (NASDAQ:ILPT)

Sumitomo Mitsui Trust Holdings Inc. lessened its position in Industrial Logistics Properties Trust (NASDAQ:ILPT – Free Report) by 4.1% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 63,462 shares of the company’s stock after selling 2,731 shares during the period. Shares held by Sumitomo Mitsui Trust Holdings Inc. holdings in Industrial Logistics Properties Trust were worth $234,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Fifth Lane Capital LP bought a new stake in Industrial Logistics Properties Trust in the 1st quarter worth $49,000. Mesirow Financial Investment Management Inc. bought a new stake in shares of Industrial Logistics Properties Trust in the 1st quarter valued at about $58,000. SG Americas Securities LLC bought a new stake in shares of Industrial Logistics Properties Trust in the 1st quarter valued at about $59,000. Cetera Advisors LLC raised its stake in shares of Industrial Logistics Properties Trust by 68.0% in the first quarter. Cetera Advisors LLC now owns 18,311 shares of the company’s stock valued at $79,000 after buying an additional 7,413 shares during the last quarter. Finally, Quadrature Capital Ltd bought a new stake in shares of Industrial Logistics Properties Trust during the 4th quarter valued at approximately $86,000. Institutional investors own 49.08% of the company’s shares.

Analysts set new price targets

ILPT has been the subject of a number of research reports. B. Riley lifted their price target on shares of Industrial Logistics Properties Trust from $9.00 to $10.00 and gave the company a “buy” rating in a research note 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.

See our latest analysis on ILPT

Confidence trading of industrial logistics properties up 5.4%

Shares of ILPT stock opened at $5.05 on Friday. The company’s 50-day moving average price is $4.34 and its 200-day moving average price is $4.07. The firm has a market cap of $332.45 million, a price-to-earnings ratio of -3.08 and a beta of 1.79. The company has a current ratio of 5.09, a quick ratio of 4.77, and a debt-to-equity ratio of 3.96. Industrial Logistics Properties Trust has a 1 year low of $2.21 and a 1 year high of $5.45.

Industrial Logistics Property Trust Dividend Notice

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Monday, July 22nd were given a dividend of $0.01 per share. The ex-dividend date was Monday, July 22. This represents a dividend of $0.04 on an annualized basis and a yield of 0.79%. Industrial Logistics Properties Trust’s dividend payout ratio (DPR) is currently -2.44%.

Industrial Logistics Properties Trust Company Profile

(Free report)

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.

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