The stock of Industrial Logistics Properties Trust (NASDAQ:ILPT) is now priced at $20.68 and the shares are 0.13 points up or 0.63% higher compared to its previous closing price of $20.55. The stock had 171205 contracts set over the past session. ILPT shares’ daily volume is compared to its average trading volume at 385138 shares. However, it has a float of 64.29 million and although its performance was 5.78% over the week, it’s one to watch. Analysts have given the ILPT stock a yearly average price target of $22.63 per share. It means the stock’s upside potential is 9.43% with the ILPT share price recently placing at $20.21 to $20.76. However, some brokerage firms have priced the stock below the average, including one that has called $16.5.
The shorts are running away from the Industrial Logistics Properties Trust stock, with the latest data on short interest released on June 15, 2020, showing that short interest numbers in the ILPT shares have declined. Short interest in the stock represents just 3.68% of its float, but the volume has dropped by -52938. The volume of shorted shares dropped to 2.365 million from 2.418 million shares over the last two weeks. The average intraday trading volume has been 273751 shares, which means that days to cover moved to roughly 8.639892.
In the last trading session, Industrial Logistics Properties Trust (NASDAQ:ILPT) raised by $1.13 over the week and gained $0.56 on its 20-day. The stock’s high in the recent session is lower when compared to its 52-week high of $24.18. The stock recorded its established 52-week high on 02/21/20.
Since 03/23/20, the stock has traded to a low of $12.95 at 59.69%, an encouraging piece of data likely to interest most investors out to exploit the stock’s recent surge. The stock has a beta allocation of 0. Being above 1 means that the stock’s volatility is higher than the market and traders are keenly watching it.
Looking at current readings, Industrial Logistics Properties Trust’s two-week RSI is 56.33. This suggests that the stock is neutral at the moment and that ILPT shares’ price movement remains stable. The stochastic readings are equally revealing at 53.43% meaning the ILPT share price is currently in neutral territory.
The technical chart shows that the ILPT stock will likely settle at between $20.91 and $21.14 per share. However, if the stock dips below $20.37, then its market would become much weaker. Any downside could see the stock price sliding to levels as low as $20.06.
Currently, the stock is trading in the green of MACD, with a reading of 0.3. Investors always pay attention to any move above or below the zero-line, mainly because the indicator points to the position of the stock’s short-term average relative to its long-term measure. A MACD -a reading above the zero line means that the short-term is above the long-term average. This scenario implies that there is an upward momentum. The opposite is true when the MACD falls below the zero-line.
Analysts at Maxim Group assigned ILPT a rating of Mkt Outperform in their resuming review released on June 08. RBC Capital Mkts analysts downgraded their recommendation of the stock from Outperform to Sector Perform while keeping its target price at $23 to $22 in a flash note released to investors on August 07. BofA/Merrill seeing the stock struggling downgraded it from Neutral to Underperform on January 03 .
The average rating for the ILPT equity is 3 and is currently gathering a bullish momentum. Of 4 analysts tracking Industrial Logistics Properties Trust polled by Reuters, 1 rated ILPT as a hold. The remaining 3 analysts were split evenly. However, the split wasn’t equal as a majority (2) rated it as a buy or strong buy. 1 analyst advised investors against buying the stock or to sell if they own any of the stock.
Elsewhere, the ILPT stock price is 27.21X ahead of its 12-month Consensus earnings per share estimates. The stocks P/S ratio currently stands at 27.4below the group’s average of 35.2. Industrial Logistics Properties Trust has its P/E ratio at 1.3, which means that the stock is currently trading at a discount relative to the 3 industry average.
Zacks Consensus Estimate forecasts that the current-quarter revenues for Industrial Logistics Properties Trust (NASDAQ:ILPT) will decrease by about -99.9%, which will see them reach $62.94 million. The company’s full-year revenues are, however, expected to increase by about 9.07%, up from $229.23 million to $250.01 million. ILPT’s expected adjusted earnings should surge almost 25% to end up at $0.25 per share, while for the fiscal year, analysts project the company’s earnings to grow by about 7.41% to record $0.87/share.