Short Interest in Industrial Logistics Properties Trust (NASDAQ:ILPT) Drops By 11.7%

Industrial Logistics Properties Trust (NASDAQ:ILPT) saw a significant 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. Currently, 2.8% of the shares of the stock are sold short. Based on an average daily volume of 379,300 shares, the days-to-cover ratio is currently 4.2 days.

Hedge Funds Weigh In On Industrial Logistics Properties Trust

Several institutional investors have recently modified their holdings of ILPT. SG Americas Securities LLC purchased a new stake in Industrial Logistics Properties Trust in the first quarter worth approximately $59,000. Anson Funds Management LP lifted its holdings in shares of 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 worth $2,798,000 after acquiring an additional 24,297 shares during the last quarter. Cetera Advisors LLC boosted its stake in shares of 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 purchasing an additional 7,413 shares in the last quarter. Bright Futures Wealth Management LLC. bought a new position in shares of Industrial Logistics Properties Trust during the 1st quarter valued at $83,000. Finally, Bank of New York Mellon Corp purchased a new position in Industrial Logistics Properties Trust in the 2nd quarter worth $741,000. 49.08% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, B. Riley raised 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

NASDAQ:ILPT traded up $0.09 during midday trading on Monday, hitting $3.71. The company had a trading volume of 314,109 shares, compared to its average volume of 488,338. The company has a market capitalization of $245.39 million, a PE ratio of -2.36 and a beta of 1.82. The company has a quick ratio of 4.53, a current ratio of 4.53 and a debt-to-equity ratio of 4.13. Industrial Logistics Properties Trust has a 52-week low of $2.82 and a 52-week high of $5.45. The stock’s fifty day moving average price is $4.33 and its 200-day moving average price is $4.30.

Industrial Logistics Properties Trust Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Monday, October 28th were issued a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a dividend yield of 1.08%. The ex-dividend date of this dividend was Monday, October 28th. Industrial Logistics Properties Trust’s payout ratio is currently -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.