Bank of New York Mellon Corp Purchases Shares of 201,266 Industrial Logistics Properties Trust (NASDAQ:ILPT)

Bank of New York Mellon Corp purchased a new position in shares of Industrial Logistics Properties Trust (NASDAQ:ILPT) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 201,266 shares of the company’s stock, valued at approximately $741,000. Bank of New York Mellon Corp owned approximately 0.31% of Industrial Logistics Properties Trust as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of ILPT. Fifth Lane Capital LP purchased a new position in Industrial Logistics Properties Trust during the 1st quarter worth approximately $49,000. Mesirow Financial Investment Management Inc. purchased a new position in shares of Industrial Logistics Properties Trust in the first quarter valued at $58,000. SG Americas Securities LLC acquired a new stake in shares of Industrial Logistics Properties Trust in the first quarter valued at approximately $59,000. Cetera Advisors LLC increased its position in Industrial Logistics Properties Trust by 68.0% during the first quarter. Cetera Advisors LLC now owns 18,311 shares of the company’s stock worth $79,000 after buying an additional 7,413 shares in the last quarter. Finally, Bright Futures Wealth Management LLC. purchased a new position in Industrial Logistics Properties Trust in the 1st quarter valued at about $83,000. 49.08% of the stock is currently owned by institutional investors and hedge funds.

Industrial Logistics Properties Trust Price Performance

ILPT opened at $4.93 on Monday. The company has a market capitalization of $324.55 million, a P/E ratio of -3.01 and a beta of 1.80. Industrial Logistics Properties Trust has a 1-year low of $2.21 and a 1-year high of $5.45. The company has a 50-day moving average of $4.88 and a 200-day moving average of $4.22. The company has a debt-to-equity ratio of 3.96, a quick ratio of 5.09 and a current ratio of 5.09.

Industrial Logistics Properties Trust Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Monday, July 22nd were issued a $0.01 dividend. The ex-dividend date was Monday, July 22nd. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.81%. Industrial Logistics Properties Trust’s dividend payout ratio (DPR) is -2.44%.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on ILPT shares. JMP Securities reiterated a “market perform” rating on shares of Industrial Logistics Properties Trust in a report on Wednesday, July 3rd. B. Riley upped 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 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.