Mackenzie Financial Corp Invests $85,000 in Industrial Logistics Properties Trust (NASDAQ:ILPT)

Mackenzie Financial Corp bought a new position in shares of Industrial Logistics Properties Trust (NASDAQ:ILPT) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 22,985 shares of the company’s stock, valued at approximately $85,000.

Other hedge funds have also modified their holdings of the company. Fifth Lane Capital LP purchased a new position in shares of Industrial Logistics Properties Trust during the first quarter worth approximately $49,000. SG Americas Securities LLC acquired a new stake in shares of Industrial Logistics Properties Trust during the first quarter worth $59,000. Cetera Advisors LLC lifted its holdings in shares of 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 purchasing an additional 7,413 shares during the period. Quadrature Capital Ltd acquired a new stake in shares of Industrial Logistics Properties Trust during the fourth quarter worth $86,000. Finally, Bright Futures Wealth Management LLC. acquired a new stake in shares of Industrial Logistics Properties Trust during the first quarter worth $83,000. 49.08% of the stock is currently owned by hedge funds and other institutional investors.

Industrial Logistics Properties Trust Price Performance

Industrial Logistics Properties Trust stock opened at $4.48 on Wednesday. Industrial Logistics Properties Trust has a one year low of $2.21 and a one year high of $5.45. The company has a debt-to-equity ratio of 3.96, a quick ratio of 5.09 and a current ratio of 5.09. The business has a fifty day moving average of $4.85 and a two-hundred day moving average of $4.29. The company has a market cap of $294.93 million, a P/E ratio of -2.73 and a beta of 1.79.

Industrial Logistics Properties Trust Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Monday, July 22nd were issued a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a yield of 0.89%. The ex-dividend date of this dividend was Monday, July 22nd. Industrial Logistics Properties Trust’s dividend payout ratio (DPR) is currently -2.44%.

Analyst Ratings Changes

Several brokerages recently weighed in on ILPT. B. Riley increased 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. JMP Securities reaffirmed a “market perform” rating on shares of Industrial Logistics Properties Trust in a report on Wednesday, July 3rd.

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.