Industrial Logistics Properties Trust (NASDAQ:ILPT) Shares Sold by Cubist Systematic Strategies LLC

Cubist Systematic Strategies LLC reduced its holdings in Industrial Logistics Properties Trust (NASDAQ:ILPT) by 41.9% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 155,569 shares of the company’s stock after selling 112,304 shares during the quarter. Cubist Systematic Strategies LLC’s holdings in Industrial Logistics Properties Trust were worth $572,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Bank of New York Mellon Corp acquired a new stake in shares of Industrial Logistics Properties Trust in the 2nd quarter valued at approximately $741,000. Quadrature Capital Ltd acquired a new stake in shares of Industrial Logistics Properties Trust in the 4th quarter valued at approximately $86,000. Cetera Advisors LLC lifted 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 valued at $79,000 after buying an additional 7,413 shares during the period. Deerfield Management Company L.P. Series C acquired a new stake in shares of Industrial Logistics Properties Trust in the 2nd quarter valued at approximately $542,000. Finally, Renaissance Technologies LLC lifted its holdings in shares of 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 during the period. 49.08% of the stock is owned by institutional investors and hedge funds.

Industrial Logistics Properties Trust Stock Performance

NASDAQ ILPT opened at $4.38 on Friday. Industrial Logistics Properties Trust has a 1-year low of $2.21 and a 1-year high of $5.45. The company has a market capitalization of $288.34 million, a P/E ratio of -2.67 and a beta of 1.79. The business has a 50 day moving average price of $4.81 and a 200 day moving average price of $4.29. The company has a debt-to-equity ratio of 3.96, a current ratio of 5.09 and a quick ratio of 5.09.

Analysts Set New Price Targets

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

Industrial Logistics Properties Trust 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.