Industrial Logistics Properties Trust (NASDAQ:ILPT) Sees Significant Decrease in Short Interest

Industrial Logistics Properties Trust (NASDAQ:ILPT) saw a significant decline in short interest in 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. Currently, 3.0% of the shares of the stock are sold short. Based on an average daily volume of 467,600 shares, the days-to-cover ratio is currently 3.7 days.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in ILPT. SG Americas Securities LLC raised its stake in shares of Industrial Logistics Properties Trust by 246.5% during the third quarter. SG Americas Securities LLC now owns 40,921 shares of the company’s stock worth $195,000 after buying an additional 29,110 shares during the last quarter. Algert Global LLC raised its position in shares of Industrial Logistics Properties Trust by 150.8% during the 2nd quarter. Algert Global LLC now owns 41,327 shares of the company’s stock valued at $152,000 after acquiring an additional 24,847 shares during the last quarter. Mackenzie Financial Corp acquired a new position in shares of Industrial Logistics Properties Trust in the 2nd quarter valued at $85,000. The Manufacturers Life Insurance Company bought a new position in shares of Industrial Logistics Properties Trust in the 2nd quarter worth $98,000. Finally, Deerfield Management Company L.P. Series C acquired a new stake in shares of Industrial Logistics Properties Trust during the second quarter worth $542,000. 49.08% of the stock is currently owned by institutional investors and hedge funds.

Industrial Logistics Properties Trust Trading Up 1.6 %

Shares of ILPT traded up $0.07 during trading hours on Wednesday, hitting $4.54. 292,373 shares of the stock traded hands, compared to its average volume of 493,775. The business has a fifty day moving average of $4.80 and a 200-day moving average of $4.30. 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 1-year low of $2.21 and a 1-year high of $5.45. The company has a current ratio of 5.09, a quick ratio of 5.09 and a debt-to-equity ratio of 3.96.

Wall Street Analyst Weigh In

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

About Industrial Logistics Properties Trust

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.