Industrial Logistics Properties Trust (NASDAQ:ILPT) Sees Significant Decline in Short Interest

Industrial Logistics Properties Trust (NASDAQ:ILPT) saw a significant drop in short interest in the month of October. As of October 31st, there was short interest totalling 865,500 shares, a drop of 5.9% from the October 15th total of 919,800 shares. Currently, 1.5% of the shares of the stock are sold short. Based on an average trading volume of 617,700 shares, the days-to-cover ratio is currently 1.4 days.

Institutional Trading of Industrial Logistics Properties Trust

Several hedge funds have recently modified their holdings of the company. Tower Research Capital LLC TRC grew its position in Industrial Logistics Properties Trust by 88.7% during the 3rd quarter. Tower Research Capital LLC TRC now owns 4,956 shares of the company’s stock worth $27,000 after acquiring an additional 2,329 shares during the last quarter. EMC Capital Management grew its holdings in shares of Industrial Logistics Properties Trust by 190.3% during the third quarter. EMC Capital Management now owns 11,213 shares of the company’s stock worth $32,000 after purchasing an additional 7,350 shares during the last quarter. PNC Financial Services Group Inc. increased its stake in shares of Industrial Logistics Properties Trust by 47.0% in the fourth quarter. PNC Financial Services Group Inc. now owns 10,108 shares of the company’s stock valued at $33,000 after buying an additional 3,231 shares in the last quarter. Private Advisor Group LLC bought a new position in shares of Industrial Logistics Properties Trust in the first quarter valued at about $33,000. Finally, Vanguard Personalized Indexing Management LLC acquired a new position in Industrial Logistics Properties Trust during the 1st quarter worth about $35,000. Institutional investors and hedge funds own 66.98% of the company’s stock.

Industrial Logistics Properties Trust Price Performance

Shares of NASDAQ:ILPT traded up $0.14 on Friday, hitting $2.93. The stock had a trading volume of 761,213 shares, compared to its average volume of 1,173,444. The company has a market capitalization of $192.91 million, a price-to-earnings ratio of -1.80 and a beta of 1.49. The company has a debt-to-equity ratio of 3.53, a quick ratio of 3.91 and a current ratio of 3.91. The firm’s 50 day moving average price is $2.86 and its 200-day moving average price is $3.01. Industrial Logistics Properties Trust has a twelve month low of $1.64 and a twelve month high of $4.98.

Industrial Logistics Properties Trust Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, November 16th. Shareholders of record on Monday, October 23rd were given a $0.01 dividend. The ex-dividend date was Friday, October 20th. This represents a $0.04 dividend on an annualized basis and a yield of 1.37%. Industrial Logistics Properties Trust’s dividend payout ratio (DPR) is presently -2.41%.

About Industrial Logistics Properties Trust

ILPT is a real estate investment trust focused on owning and leasing high quality distribution and logistics properties. As of September 30, 2023, ILPT's portfolio consisted of 413 properties containing approximately 60.0 million rentable square feet located in 39 states. Approximately 77% of ILPT's annualized rental revenues as of September 30, 2023 are derived from investment grade tenants, tenants that are subsidiaries of investment grade rated entities or Hawaii land leases.