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

Industrial Logistics Properties Trust (NASDAQ:ILPT) saw a significant decline in short interest during the month of September. As of September 30th, there was short interest totalling 1,720,000 shares, a decline of 15.3% from the September 15th total of 2,030,000 shares. Approximately 3.0% of the company’s stock are short sold. Based on an average daily trading volume, of 467,600 shares, the short-interest ratio is presently 3.7 days.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the company. B. Riley increased their price target on Industrial Logistics Properties Trust from $9.00 to $10.00 and gave the company a “buy” rating in a report on Monday, August 5th. JMP Securities reissued a “market perform” rating on shares of Industrial Logistics Properties Trust in a research report on Wednesday, July 3rd.

Institutional Trading of Industrial Logistics Properties Trust

A number of institutional investors and hedge funds have recently modified their holdings of the company. Bank of New York Mellon Corp acquired a new stake in shares of Industrial Logistics Properties Trust during the 2nd quarter valued at about $741,000. Quadrature Capital Ltd bought a new stake in shares of Industrial Logistics Properties Trust in the 4th quarter valued at approximately $86,000. Cetera Advisors LLC raised its holdings in shares of Industrial Logistics Properties Trust by 68.0% in the 1st quarter. Cetera Advisors LLC now owns 18,311 shares of the company’s stock worth $79,000 after buying an additional 7,413 shares in the last quarter. Deerfield Management Company L.P. Series C bought a new position in shares of Industrial Logistics Properties Trust during the 2nd quarter worth approximately $542,000. Finally, Renaissance Technologies LLC boosted its stake in Industrial Logistics Properties Trust by 162.9% in the 2nd quarter. Renaissance Technologies LLC now owns 454,300 shares of the company’s stock valued at $1,672,000 after buying an additional 281,500 shares in the last quarter. 49.08% of the stock is currently owned by institutional investors.

Industrial Logistics Properties Trust Stock Performance

ILPT stock traded up $0.07 on Wednesday, reaching $4.54. 292,373 shares of the company were exchanged, compared to its average volume of 493,775. The firm has a market capitalization of $298.88 million, a PE ratio of -2.73 and a beta of 1.79. Industrial Logistics Properties Trust has a 12 month low of $2.21 and a 12 month high of $5.45. The stock’s fifty day moving average price is $4.80 and its 200 day moving average price is $4.30. The company has a debt-to-equity ratio of 3.96, a current ratio of 5.09 and a quick ratio of 5.09.

Industrial Logistics Properties Trust Company Profile

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.