Charles Schwab Investment Managem recently announced the acquisition of new stake in Industrial Logistics Properties Trust (NASDAQ:ILPT). The institutional investor has increased its shareholding in the Real Estate company by 10.49% to 2.11 million shares with purchase of 0.2 million shares. This fresh investment now brings its stake to 3.20% valued currently at $9.9 million. In addition, Balyasny Asset Management LP raised its holdings by 1.48 million to 1.48 million shares.
With over 0.45 million Industrial Logistics Properties Trust (ILPT) shares trading Friday and a closing price of $4.28 on the day, the dollar volume was approximately $1.93 million. The shares have shown a positive half year performance of 10.03% and its price on 01/12/24 lost nearly -0.70%. Currently, there are 65.57M common shares owned by the public and among those 58.19M shares have been available to trade.
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The analysts have set the share’s price value over the next 12 months at a high of $10.00 and a low of $10.00. The average price target is 57.2% above its recent price level and an upside to the estimated low will see the stock gain 57.2% over that period. But an upside of 57.2% will see the stock hit the forecast high price target while median target price for the stock is $10.00.
Insiders at the company have transacted a total of 21 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 14 of these insider trades were purchases, accounting for 262,500 shares. Insider sales of the common stock occurred on 7 occasions, with total insider shares sold totaling 46,845 shares.
The top 3 mutual fund holders in Industrial Logistics Properties Trust are Vanguard Real Estate Index Fund, Vanguard Total Stock Market ETF, and Schwab Fundamental US Small Compa. Vanguard Real Estate Index Fund owns 2.25 million shares of the company’s stock, all valued at over $10.59 million. The company sold -0.18 million shares recently to bring their total holdings to about 3.42% of the shares outstanding. Schwab Fundamental US Small Compa sold 460.0 shares to bring its total holdings to over 1.29 million shares at a value of $6.05 million. Schwab Fundamental US Small Compa now owns shares totaling to 1.96% of the shares outstanding.
Shares of Industrial Logistics Properties Trust (NASDAQ: ILPT) opened at $4.28, down -$0.03 from a prior closing price of $4.31. The company’s stock has a 5-day price change of -8.94% and 68.50% over the past three months. ILPT shares are trading -8.94% year to date (YTD), with the 12-month market performance up to 5.94% higher. It has a 12-month low price of $1.64 and touched a high of $4.98 over the same period. ILPT has an average intraday trading volume of 493.56K shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -6.75%, 13.76%, and 35.94% respectively.
Institutional ownership of Industrial Logistics Properties Trust (NASDAQ: ILPT) shares accounts for 54.47% of the company’s 65.57M shares outstanding. Mutual fund holders own 34.97%, while other institutional holders and individual stakeholders account for 70.27% and 19.55% respectively.
It has a market capitalization of $281.80M and a beta (3y monthly) value of 1.73. The earnings-per-share (ttm) stands at -$1.65. The company has a debt-to-equity ratio at 6.07. Price movements for the stock have been influenced by the stock’s volatility, which stands at 4.37% over the week and 5.45% over the month.
Analysts forecast that Industrial Logistics Properties Trust (ILPT) will achieve an EPS of $0 for the current quarter, $0 for the next quarter and $0 for 2024. The lowest estimate earnings-per-share for the quarter is $0 while analysts give the company a high EPS estimate of $0. Comparatively, EPS for the current quarter was -$0.7 a year ago.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 3 brokerage firm advisors rate Industrial Logistics Properties Trust (ILPT) as a “Moderate Buy” at a consensus score of 2.33. Specifically, 1 Wall Street analysts polled rate the stock as a buy, while 2 of the 3 advise that investors “hold,” and 0 rated it as a “Sell.”
