Vanguard Group Inc. Takes $198.61 Million Position in Industrial Logistics Properties Trust (NASDAQ:ILPT)

Vanguard Group Inc. acquired a new stake in Industrial Logistics Properties Trust (NASDAQ:ILPT) in the 2nd quarter, Holdings Channel.com reports. The fund acquired 9,539,380 shares of the company’s stock, valued at approximately $198,609,000. Vanguard Group Inc. owned approximately 0.15% of Industrial Logistics Properties Trust as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in the company. BlackRock Inc. acquired a new position in shares of Industrial Logistics Properties Trust in the second quarter valued at approximately $121,660,000. Cohen & Steers Inc. bought a new stake in Industrial Logistics Properties Trust in the second quarter valued at approximately $97,991,000. LSV Asset Management bought a new stake in Industrial Logistics Properties Trust in the second quarter valued at approximately $46,562,000. Northern Trust Corp bought a new stake in Industrial Logistics Properties Trust in the second quarter valued at approximately $26,582,000. Finally, Russell Investments Group Ltd. bought a new stake in Industrial Logistics Properties Trust in the second quarter valued at approximately $24,968,000. 89.81% of the stock is owned by institutional investors.

Several analysts recently commented on the company. Royal Bank of Canada cut Industrial Logistics Properties Trust from an “outperform” rating to a “sector perform” rating and reduced their target price for the company from $23.00 to $22.00 in a report on Wednesday, August 7th. Zacks Investment Research upgraded Industrial Logistics Properties Trust from a “hold” rating to a “strong-buy” rating and set a $25.00 target price on the stock in a report on Friday, August 2nd.

Shares of ILPT stock opened at $21.22 on Friday. The business’s 50 day simple moving average is $21.46 and its 200 day simple moving average is $20.56. Industrial Logistics Properties Trust has a one year low of $18.03 and a one year high of $22.82. The stock has a market capitalization of $1.38 billion, a PE ratio of 13.18 and a beta of 0.93. The company has a debt-to-equity ratio of 1.34, a current ratio of 3.20 and a quick ratio of 3.20.

Industrial Logistics Properties Trust (NASDAQ:ILPT) last announced its earnings results on Tuesday, July 30th. The company reported $0.20 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.44 by ($0.24). Industrial Logistics Properties Trust had a net margin of 35.17% and a return on equity of 6.47%. The company had revenue of $60.09 million during the quarter, compared to the consensus estimate of $56.59 million. As a group, research analysts expect that Industrial Logistics Properties Trust will post 1.77 earnings per share for the current year.

Industrial Logistics Properties Trust Profile

Industrial Logistics Properties Trust is a real estate investment trust, or REIT, that owns and leases industrial and logistics properties throughout the United States. ILPT is managed by the operating subsidiary of The RMR Group Inc (Nasdaq: RMR), an alternative asset management company that is headquartered in Newton, MA.

Further Reading: Moving Average (MA)

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Institutional Ownership by Quarter for Industrial Logistics Properties Trust (NASDAQ:ILPT)

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