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

Industrial Logistics Properties Trust (NASDAQ:ILPT) announced a quarterly dividend on Thursday, April 11th, Zacks reports. Stockholders 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 annualized dividend and a dividend yield of 1.09%. The ex-dividend date of this dividend is Friday, April 19th.

Industrial Logistics Properties Trust has decreased its dividend by an average of 68.8% per year over the last three years. Industrial Logistics Properties Trust has a dividend payout ratio of 10.3% meaning its dividend is sufficiently covered by earnings. 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 Price Performance

ILPT opened at $3.66 on Thursday. Industrial Logistics Properties Trust has a one year low of $1.64 and a one year 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 business’s 50 day moving average price is $3.95 and its 200 day moving average price is $3.69.

Hedge Funds Weigh In On Industrial Logistics Properties Trust

A number of hedge funds have recently modified their holdings of ILPT. JPMorgan Chase & Co. boosted its stake in Industrial Logistics Properties Trust by 18.9% during the first quarter. JPMorgan Chase & Co. now owns 468,345 shares of the company’s stock worth $10,618,000 after buying an additional 74,474 shares during the period. MetLife Investment Management LLC lifted its holdings 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 worth $820,000 after acquiring an additional 12,895 shares during the last quarter. Rhumbline Advisers boosted its position in shares of Industrial Logistics Properties Trust by 0.5% during the 1st quarter. Rhumbline Advisers now owns 197,571 shares of the company’s stock worth $4,479,000 after purchasing an additional 903 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its holdings in 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 during the last quarter. Finally, Great West Life Assurance Co. Can raised its position in Industrial Logistics Properties Trust by 1.4% in the first 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 during the period. 49.08% of the stock is currently owned by hedge funds and other institutional investors.

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.