Algert Global LLC Acquires 24,847 Shares of Industrial Logistics Properties Trust (NASDAQ:ILPT)

Algert Global LLC lifted its position in shares of Industrial Logistics Properties Trust (NASDAQ:ILPT) by 150.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 41,327 shares of the company’s stock after acquiring an additional 24,847 shares during the period. Algert Global LLC owned approximately 0.06% of Industrial Logistics Properties Trust worth $152,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Fifth Lane Capital LP bought a new stake in shares of Industrial Logistics Properties Trust during the first quarter valued at approximately $49,000. SG Americas Securities LLC bought a new stake in Industrial Logistics Properties Trust in the 1st quarter worth approximately $59,000. Cetera Advisors LLC grew its position in Industrial Logistics Properties Trust by 68.0% in the 1st quarter. Cetera Advisors LLC now owns 18,311 shares of the company’s stock worth $79,000 after purchasing an additional 7,413 shares during the period. Bright Futures Wealth Management LLC. bought a new stake in Industrial Logistics Properties Trust in the 1st quarter worth approximately $83,000. Finally, Mackenzie Financial Corp bought a new stake in Industrial Logistics Properties Trust in the 2nd quarter worth approximately $85,000. Institutional investors own 49.08% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have commented on ILPT. B. Riley lifted their target price 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. JMP Securities reaffirmed a “market perform” rating on shares of Industrial Logistics Properties Trust in a research report on Wednesday, July 3rd.

Industrial Logistics Properties Trust Trading Down 0.9 %

Shares of Industrial Logistics Properties Trust stock opened at $4.37 on Friday. The company’s fifty day simple moving average is $4.82 and its 200-day simple moving average is $4.29. The stock has a market capitalization of $287.69 million, a PE ratio of -2.66 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 debt-to-equity ratio of 3.96, a current ratio of 5.09 and a quick ratio of 5.09.

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.