Meixler Investment Management Ltd. Sells 3,000 Shares of Industrial Logistics Properties Trust (NASDAQ:ILPT)

Meixler Investment Management Ltd. lessened its holdings in shares of Industrial Logistics Properties Trust (NASDAQ:ILPT) by 12.6% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 20,850 shares of the company’s stock after selling 3,000 shares during the period. Meixler Investment Management Ltd.’s holdings in Industrial Logistics Properties Trust were worth $99,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of ILPT. Bank of New York Mellon Corp purchased a new stake in shares of Industrial Logistics Properties Trust in the second quarter worth $741,000. The Manufacturers Life Insurance Company purchased a new stake in Industrial Logistics Properties Trust during the 2nd quarter valued at about $98,000. Cetera Advisors LLC increased its stake in Industrial Logistics Properties Trust by 68.0% during the 1st quarter. Cetera Advisors LLC now owns 18,311 shares of the company’s stock valued at $79,000 after purchasing an additional 7,413 shares in the last quarter. Deerfield Management Company L.P. Series C purchased a new position in Industrial Logistics Properties Trust in the second quarter worth about $542,000. Finally, Renaissance Technologies LLC lifted its stake in shares of Industrial Logistics Properties Trust by 162.9% in the second quarter. Renaissance Technologies LLC now owns 454,300 shares of the company’s stock worth $1,672,000 after buying an additional 281,500 shares in the last quarter. 49.08% of the stock is owned by hedge funds and other institutional investors.

Industrial Logistics Properties Trust Stock Up 0.5 %

NASDAQ ILPT opened at $3.74 on Monday. Industrial Logistics Properties Trust has a one year low of $2.61 and a one year high of $5.45. The stock has a 50-day moving average of $4.46 and a 200 day moving average of $4.30. The company has a current ratio of 4.53, a quick ratio of 4.53 and a debt-to-equity ratio of 4.13.

Industrial Logistics Properties Trust Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 14th. Stockholders of record on Monday, October 28th will be paid a $0.01 dividend. The ex-dividend date of this dividend is Monday, October 28th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 1.07%. Industrial Logistics Properties Trust’s dividend payout ratio is presently -2.55%.

Wall Street Analysts Forecast Growth

Separately, B. Riley upped their price objective 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.

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.