The Manufacturers Life Insurance Company Makes New Investment in Industrial Logistics Properties Trust (NASDAQ:ILPT)

The Manufacturers Life Insurance Company purchased a new stake in Industrial Logistics Properties Trust (NASDAQ:ILPT) during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 26,587 shares of the company’s stock, valued at approximately $98,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Cetera Advisors LLC increased its stake in Industrial Logistics Properties Trust by 68.0% in the first quarter. Cetera Advisors LLC now owns 18,311 shares of the company’s stock valued at $79,000 after acquiring an additional 7,413 shares during the period. Dimensional Fund Advisors LP grew its position in Industrial Logistics Properties Trust by 1.1% in the second quarter. Dimensional Fund Advisors LP now owns 839,912 shares of the company’s stock valued at $3,091,000 after acquiring an additional 9,382 shares during the period. DigitalBridge Group Inc. lifted its holdings in shares of Industrial Logistics Properties Trust by 2.8% during the second quarter. DigitalBridge Group Inc. now owns 396,243 shares of the company’s stock valued at $1,458,000 after acquiring an additional 10,744 shares during the period. Fifth Lane Capital LP acquired a new stake in shares of Industrial Logistics Properties Trust in the 1st quarter valued at $49,000. Finally, SG Americas Securities LLC acquired a new stake in shares of Industrial Logistics Properties Trust in the 1st quarter valued at $59,000. Institutional investors and hedge funds own 49.08% of the company’s stock.

Industrial Logistics Properties Trust Price Performance

Industrial Logistics Properties Trust stock opened at $4.29 on Monday. The business’s fifty day moving average is $4.78 and its two-hundred day moving average is $4.30. 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 firm has a market cap of $282.42 million, a P/E ratio of -2.62 and a beta of 1.79. Industrial Logistics Properties Trust has a 52 week low of $2.21 and a 52 week high of $5.45.

Industrial Logistics Properties Trust Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 14th. Investors of record on Monday, October 28th will be given a dividend of $0.01 per share. The ex-dividend date of this dividend is Monday, October 28th. This represents a $0.04 annualized dividend and a yield of 0.93%. Industrial Logistics Properties Trust’s dividend payout ratio (DPR) is -2.44%.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the stock. JMP Securities reissued a “market perform” rating on shares of Industrial Logistics Properties Trust in a report on Wednesday, July 3rd. 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.

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.