INDUS Realty Trust, Inc. (NASDAQ:INDT) Brief Interest Update
INDUS Realty Trust, Inc. (NASDAQ:INDT) was the target of a sharp rise in short-term interest in December. As of December 31, there was short interest totaling 103,000 shares, an increase of 46.7% from the total of 70,200 shares as of December 15. Based on an average daily volume of 30,700 shares, the day-to-cover ratio is currently 3.4 days.
INDUS Realty Trust stock traded down $0.28 at midday on Monday, hitting $80.15. 21,666 shares of the company have been traded, compared to its average volume of 19,900. The company has a 50-day moving average of $76.97. INDUS Realty Trust has a fifty-two week minimum of $56.30 and a fifty-two week maximum of $82.94.
INDUS Realty Trust (NASDAQ:INDT) last released its results on Thursday, November 4. The company reported ($0.46) earnings per share for the quarter, missing the Zacks consensus estimate of ($0.04) by ($0.42). INDUS Realty Trust posted a negative return on equity of 6.07% and a negative net margin of 40.95%. The company had revenue of $10.75 million for the quarter.
The company also recently announced a quarterly dividend, which was paid on Friday, January 14. Shareholders of record on Thursday, December 30 received a dividend of $0.16 per share. The ex-dividend date was Wednesday, December 29. This represents a dividend of $0.64 on an annualized basis and a dividend yield of 0.80%. This is an increase from INDUS Realty Trust’s previous quarterly dividend of $0.15. INDUS Realty Trust’s dividend payout ratio (DPR) is currently -23.79%.
The INDT has been the subject of several research reports. Berenberg Bank launched a hedge on the shares of INDUS Realty Trust in a research note on Wednesday, October 20. They set a “buy” rating and a price target of $77.00 for the company. Robert W. Baird reaffirmed a “buy” rating and set a price target of $75.00 on INDUS Realty Trust shares in a Tuesday, October 12 research note. BTIG Research reaffirmed a “buy” rating and set a price target of $74.00 on shares of INDUS Realty Trust in a Thursday, November 11 research note. Aegis began covering INDUS Realty Trust in a report on Wednesday, December 8. They issued a “buy” rating and a price target of $89.00 for the company. Finally, JMP Securities raised its price target on INDUS Realty Trust from $80.00 to $85.00 and gave the company an “outperform” rating in a Wednesday, November 17 report. Two investment analysts gave the stock a hold rating and five gave the company a buy rating. According to data from MarketBeat, INDUS Realty Trust has an average buy rating and an average target price of $77.14.
In other news from INDUS Realty Trust, major shareholder Ccp Sbs Gp, Llc purchased 5,813 shares in a transaction that took place on Wednesday, January 12. The shares were acquired at an average cost of $79.98 per share, with a total value of $464,923.74. The transaction was disclosed in a filing with the SEC, accessible via this link. 18.70% of the shares are currently held by company insiders.
Several institutional investors and hedge funds have recently bought and sold shares of INDT. Citigroup Inc. increased its holdings of INDUS Realty Trust shares by 142.2% during the third quarter. Citigroup Inc. now owns 499 shares of the company worth $35,000 after buying 293 more shares in the last quarter. Nisa Investment Advisors LLC increased its position in INDUS Realty Trust shares by 123.2% in the second quarter. Nisa Investment Advisors LLC now owns 906 shares of the company worth $59,000 after purchasing an additional 500 shares during the period. Daiwa Securities Group Inc. bought a new stock position in INDUS Realty Trust in the third quarter worth $78,000. Morgan Stanley bought a new position in shares of INDUS Realty Trust in the first quarter worth $103,000. Finally, Metropolitan Life Insurance Co NY bought a new position in shares of INDUS Realty Trust in the third quarter at a value of $104,000. 47.62% of the shares are held by institutional investors.
INDUS Realty Trust Company Profile
Indus Realty Trust, Inc engages in the development, management and leasing of industrial/warehouse properties. The company was founded in 1970 and is based in New York, NY.
Feature article: Neutral assessment
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