Monarch Alternative Capital LP Takes Position in INDUS Realty Trust, Inc. (NASDAQ:INDT)

Monarch Alternative Capital LP purchased a new position in INDUS Realty Trust, Inc. (NASDAQ:INDT) during the 1st quarter, Holdings Channel.com reports. The firm purchased 560,000 shares of the company’s stock, valued at approximately $33,690,000. INDUS Realty Trust accounts for about 2.3% of Monarch Alternative Capital LP’s holdings, making the stock its 5th largest position. Monarch Alternative Capital LP owned 0.07% of INDUS Realty Trust at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in INDT. Strs Ohio bought a new stake in INDUS Realty Trust in the first quarter worth $49,000. UBS Group AG bought a new stake in INDUS Realty Trust in the first quarter worth $83,000. Morgan Stanley bought a new stake in INDUS Realty Trust in the first quarter worth $103,000. American International Group Inc. bought a new stake in INDUS Realty Trust in the first quarter worth $116,000. Finally, New York State Common Retirement Fund bought a new position in INDUS Realty Trust during the first quarter valued at $208,000. Institutional investors own 46.93% of the company’s stock.

A number of research analysts have weighed in on the stock. BTIG Research assumed coverage on shares of INDUS Realty Trust in a research report on Monday, April 26th. They set a “buy” rating and a $74.00 price objective on the stock. started coverage on shares of INDUS Realty Trust in a research report on Thursday, May 13th. They set a “neutral” rating and a $70.00 price objective on the stock. Finally, Citigroup started coverage on shares of INDUS Realty Trust in a research note on Thursday, May 13th. They set a “neutral” rating and a $70.00 target price for the company.

Shares of INDT traded up $0.40 during trading hours on Thursday, reaching $67.75. 41 shares of the company traded hands, compared to its average volume of 17,650. The stock has a market capitalization of $523.03 million, a price-to-earnings ratio of -28.78 and a beta of 0.93. INDUS Realty Trust, Inc. has a 12-month low of $48.05 and a 12-month high of $80.35. The stock has a fifty day moving average of $65.98.

INDUS Realty Trust (NASDAQ:INDT) last issued its earnings results on Monday, May 10th. The company reported ($0.12) earnings per share (EPS) for the quarter. INDUS Realty Trust had a negative net margin of 33.80% and a negative return on equity of 5.75%. The company had revenue of $10.09 million for the quarter.

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 30th. Investors of record on Wednesday, June 16th were paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 0.89%. The ex-dividend date of this dividend was Tuesday, June 15th.

INDUS Realty Trust Company Profile

INDUS Realty Trust, Inc is a real estate business principally engaged in developing, acquiring, managing and leasing industrial/warehouse properties. INDUS owns 41 buildings totaling approximately 4.6 million square feet (4.2 million of which is industrial/warehouse space) in Connecticut, Pennsylvania, North Carolina and Florida in addition to over 3,400 acres of undeveloped land.

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Institutional Ownership by Quarter for INDUS Realty Trust (NASDAQ:INDT)

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