Industrial Logistics Properties Trust Declares Quarterly Dividend of $0.01 (NASDAQ:ILPT)

Industrial Logistics Properties Trust (NASDAQ:ILPT) announced a quarterly dividend on Thursday, April 11th, Zacks reports. Shareholders of record on Monday, April 22nd will be given a dividend of 0.01 per share on Thursday, May 16th. This represents a $0.04 dividend on an annualized basis and a yield of 1.02%. The ex-dividend date of this dividend is Friday, April 19th.

Industrial Logistics Properties Trust has decreased its dividend payment by an average of 68.8% annually over the last three years. Industrial Logistics Properties Trust has a payout ratio of 10.3% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Industrial Logistics Properties Trust to earn $0.79 per share next year, which means the company should continue to be able to cover its $0.04 annual dividend with an expected future payout ratio of 5.1%.

Industrial Logistics Properties Trust Stock Performance

ILPT opened at $3.93 on Friday. Industrial Logistics Properties Trust has a fifty-two week low of $1.64 and a fifty-two week high of $4.88. The company has a current ratio of 5.04, a quick ratio of 5.04 and a debt-to-equity ratio of 3.71. The firm’s fifty day moving average price is $3.96 and its two-hundred day moving average price is $3.67.

Institutional Investors Weigh In On Industrial Logistics Properties Trust

Several institutional investors and hedge funds have recently made changes to their positions in ILPT. JPMorgan Chase & Co. boosted its stake in shares of Industrial Logistics Properties Trust by 18.9% in the 1st quarter. JPMorgan Chase & Co. now owns 468,345 shares of the company’s stock valued at $10,618,000 after purchasing an additional 74,474 shares in the last quarter. MetLife Investment Management LLC boosted its stake in shares of Industrial Logistics Properties Trust by 55.4% in the 1st quarter. MetLife Investment Management LLC now owns 36,169 shares of the company’s stock valued at $820,000 after purchasing an additional 12,895 shares in the last quarter. Rhumbline Advisers boosted its stake in shares of Industrial Logistics Properties Trust by 0.5% in the 1st quarter. Rhumbline Advisers now owns 197,571 shares of the company’s stock valued at $4,479,000 after purchasing an additional 903 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its stake in shares of Industrial Logistics Properties Trust by 14.1% in the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 56,385 shares of the company’s stock valued at $1,278,000 after purchasing an additional 6,952 shares in the last quarter. Finally, Great West Life Assurance Co. Can boosted its stake in shares of Industrial Logistics Properties Trust by 1.4% in the 1st quarter. Great West Life Assurance Co. Can now owns 110,513 shares of the company’s stock valued at $2,584,000 after purchasing an additional 1,498 shares in the last quarter. Institutional investors and hedge funds own 49.08% of the company’s stock.

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.