Industrial Logistics Properties Trust (NASDAQ:ILPT) Stock Position Reduced by Corsair Capital Management L.P.

Corsair Capital Management L.P. lessened its stake in Industrial Logistics Properties Trust (NASDAQ:ILPT) by 4.8% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 175,251 shares of the company’s stock after selling 8,780 shares during the quarter. Corsair Capital Management L.P.’s holdings in Industrial Logistics Properties Trust were worth $834,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. SG Americas Securities LLC purchased a new stake in shares of Industrial Logistics Properties Trust during the first quarter worth $59,000. Cetera Advisors LLC raised its stake in shares of Industrial Logistics Properties Trust by 68.0% during the 1st quarter. Cetera Advisors LLC now owns 18,311 shares of the company’s stock worth $79,000 after purchasing an additional 7,413 shares in the last quarter. Bright Futures Wealth Management LLC. acquired a new stake in shares of Industrial Logistics Properties Trust during the 1st quarter valued at about $83,000. Bank of New York Mellon Corp bought a new stake in shares of Industrial Logistics Properties Trust in the 2nd quarter valued at approximately $741,000. Finally, Bailard Inc. bought a new stake in shares of Industrial Logistics Properties Trust in the 2nd quarter valued at approximately $123,000. Hedge funds and other institutional investors own 49.08% of the company’s stock.

Analysts Set New Price Targets

Separately, B. Riley lifted their target price 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.

Industrial Logistics Properties Trust Price Performance

Shares of NASDAQ:ILPT opened at $3.77 on Wednesday. The company has a quick ratio of 4.53, a current ratio of 4.53 and a debt-to-equity ratio of 4.13. The business has a 50 day moving average price of $4.16 and a 200 day moving average price of $4.28. The company has a market cap of $249.35 million, a price-to-earnings ratio of -2.40 and a beta of 1.82. Industrial Logistics Properties Trust has a twelve month low of $3.00 and a twelve month high of $5.45.

Industrial Logistics Properties Trust Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Monday, October 28th were given a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 1.06%. The ex-dividend date of this dividend was Monday, October 28th. Industrial Logistics Properties Trust’s dividend payout ratio is presently -2.55%.

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.