Industrial Logistics Properties Trust (NASDAQ:ILPT) Short Interest Down 20.1% in November

Industrial Logistics Properties Trust (NASDAQ:ILPT) was the target of a large decline in short interest during the month of November. As of November 15th, there was short interest totalling 1,270,000 shares, a decline of 20.1% from the October 31st total of 1,590,000 shares. Based on an average daily volume of 370,700 shares, the short-interest ratio is currently 3.4 days. Approximately 2.2% of the company’s stock are short sold.

Industrial Logistics Properties Trust Stock Down 2.3 %

Shares of ILPT traded down $0.09 during trading hours on Monday, reaching $3.78. 314,702 shares of the stock traded hands, compared to its average volume of 479,246. Industrial Logistics Properties Trust has a 52 week low of $3.15 and a 52 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. The stock has a fifty day simple moving average of $4.07 and a 200 day simple moving average of $4.27. The company has a market cap of $250.01 million, a price-to-earnings ratio of -2.41 and a beta of 1.82.

Industrial Logistics Properties Trust Announces Dividend

The firm also recently disclosed 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 1.06%. Industrial Logistics Properties Trust’s dividend payout ratio is currently -2.55%.

Institutional Investors Weigh In On Industrial Logistics Properties Trust

Several large investors have recently made changes to their positions in the business. Renaissance Technologies LLC boosted its holdings in shares of Industrial Logistics Properties Trust by 162.9% in the 2nd quarter. Renaissance Technologies LLC now owns 454,300 shares of the company’s stock worth $1,672,000 after buying an additional 281,500 shares during the last quarter. Bank of New York Mellon Corp purchased a new position in Industrial Logistics Properties Trust in the second quarter valued at about $741,000. State Street Corp grew its position in shares of Industrial Logistics Properties Trust by 21.0% during the 3rd quarter. State Street Corp now owns 997,661 shares of the company’s stock valued at $4,749,000 after acquiring an additional 173,230 shares during the period. Jane Street Group LLC bought a new position in shares of Industrial Logistics Properties Trust during the 3rd quarter valued at approximately $784,000. Finally, Deerfield Management Company L.P. Series C purchased a new stake in shares of Industrial Logistics Properties Trust during the 2nd quarter worth approximately $542,000. 49.08% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

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.