Industrial Logistics Properties Trust (NASDAQ:ILPT) to Issue Quarterly Dividend of $0.01

Posted by Anthony Bellafiore on Oct 27th, 2024

Industrial Logistics Properties Trust (NASDAQ:ILPT – Get Free Report) announced a quarterly dividend on Wednesday, October 16th, Zacks reports. Shareholders of record on Monday, October 28th will be paid a dividend of 0.01 per share on Thursday, November 14th. This represents a $0.04 dividend on an annualized basis and a yield of 1.03%. The ex-dividend date is Monday, October 28th.

Industrial Logistics Properties Trust has decreased its dividend by an average of 68.8% annually over the last three years. Industrial Logistics Properties Trust has a dividend payout ratio of 10.3% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Industrial Logistics Properties Trust to earn $0.60 per share next year, which means the company should continue to be able to cover its $0.04 annual dividend with an expected future payout ratio of 6.7%.

Industrial Logistics Properties Trust Price Performance

Industrial Logistics Properties Trust stock opened at $3.89 on Friday. Industrial Logistics Properties Trust has a 52 week low of $2.37 and a 52 week high of $5.45. The company’s 50 day moving average price is $4.71 and its two-hundred day moving average price is $4.30. The stock has a market cap of $256.66 million, a P/E ratio of -2.45 and a beta of 1.79. The company has a quick ratio of 5.09, a current ratio of 5.09 and a debt-to-equity ratio of 3.96.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on ILPT. JMP Securities reiterated a “market perform” rating on shares of Industrial Logistics Properties Trust in a report on Wednesday, July 3rd. B. Riley raised their target price on Industrial Logistics Properties Trust from $9.00 to $10.00 and gave the company a “buy” rating in a research report on Monday, August 5th.

Read Our Latest Stock Analysis on Industrial Logistics Properties Trust

Industrial Logistics Properties Trust Company Profile

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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.