Shell Asset Management Co. Sells 2,176 Shares of Industrial Logistics Properties Trust (NASDAQ:ILPT)

Shell Asset Management Co. lowered its position in shares of Industrial Logistics Properties Trust (NASDAQ:ILPTGet Rating) by 12.9% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 14,752 shares of the company’s stock after selling 2,176 shares during the quarter. Shell Asset Management Co.’s holdings in Industrial Logistics Properties Trust were worth $334,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of ILPT. Russell Investments Group Ltd. lifted its position in shares of Industrial Logistics Properties Trust by 395.4% during the 4th quarter. Russell Investments Group Ltd. now owns 74,279 shares of the company’s stock worth $1,860,000 after buying an additional 59,284 shares in the last quarter. Van ECK Associates Corp lifted its position in shares of Industrial Logistics Properties Trust by 66.9% during the 4th quarter. Van ECK Associates Corp now owns 5,057 shares of the company’s stock worth $127,000 after buying an additional 2,027 shares in the last quarter. Allspring Global Investments Holdings LLC purchased a new stake in shares of Industrial Logistics Properties Trust during the 4th quarter worth approximately $921,000. State of New Jersey Common Pension Fund D increased its stake in shares of Industrial Logistics Properties Trust by 24.1% during the 4th quarter. State of New Jersey Common Pension Fund D now owns 120,749 shares of the company’s stock worth $3,025,000 after purchasing an additional 23,417 shares during the last quarter. Finally, Yousif Capital Management LLC purchased a new stake in shares of Industrial Logistics Properties Trust during the 4th quarter worth approximately $1,488,000. Institutional investors own 85.16% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on ILPT shares. B. Riley decreased their price target on shares of Industrial Logistics Properties Trust from $28.00 to $21.00 in a research note on Thursday, July 28th. JMP Securities lowered shares of Industrial Logistics Properties Trust from an “outperform” rating to a “market perform” rating in a research note on Wednesday, May 18th.

Industrial Logistics Properties Trust Stock Down 1.3 %

Industrial Logistics Properties Trust stock opened at $9.35 on Friday. Industrial Logistics Properties Trust has a 1-year low of $9.11 and a 1-year high of $28.66. The firm has a market capitalization of $611.74 million, a price-to-earnings ratio of -8.90 and a beta of 0.99. The company has a current ratio of 6.74, a quick ratio of 6.74 and a debt-to-equity ratio of 3.07. The firm has a 50 day simple moving average of $12.72 and a 200 day simple moving average of $17.67.

Industrial Logistics Properties Trust Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 18th. Investors of record on Monday, July 25th will be paid a $0.01 dividend. The ex-dividend date of this dividend is Friday, July 22nd. This represents a $0.04 dividend on an annualized basis and a yield of 0.43%. Industrial Logistics Properties Trust’s dividend payout ratio is -3.81%.

Industrial Logistics Properties Trust Company Profile

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ILPT 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.

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

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