Stock fact sheet · data as of
Industrial Logistics Properties Trust (ILPT): fair value, margin of safety and Wheel Score
Real Estate · REIT - Industrial · United States · Speculative / Distressed
Is ILPT undervalued?
At 6.89 (close of 16 Oct 2026), ILPT trades 69% below the GLS average fair value of 22.07. That average comes from 3 models run on the latest filings, and 2 of them land above the current price. Margins of safety over 30% are the exception rather than the rule across the ~7,400 stocks we value each night, so the number earns Industrial Logistics Properties Trust the full Value points in the Wheel Score - and a closer look at what the market is pricing in.
The average is built from just 3 models (DCF, 10 Cap, DDM) - the rest returned nothing because an input they need (dividends, free cash flow, book value) is zero or negative - so treat it with more caution than usual.
The nightly engine files ILPT under Speculative / Distressed - negative earnings or a Piotroski score of 3 or less - which caps its Wheel Score at 45 and keeps it out of the Sunday Scan.
Nine valuation models for ILPT
Each model turns the latest filed numbers into a value per share; the GLS fair value is the simple average of the ones that produce a positive number. The last two rows are shown for reference and never enter the average. The Quote page lets you switch any model off and add your own margin of safety.
| Model | Value | vs price | What it measures |
|---|---|---|---|
| DCF | 44.75 | +549% | Present value of the projected free cash flows, discounted at the cost of capital |
| Graham Number | - | - | The most a defensive investor pays for the earnings and book value per share; no value tonight |
| Graham Growth | - | - | Graham's growth formula: EPS × (8.5 + 2 × growth), adjusted for bond yields; no value tonight |
| Lynch | - | - | EPS × the earnings growth rate (PEG of 1), growth capped at 25%; no value tonight |
| GLS Growth | - | - | EPS compounded ten years at the blended growth rate, discounted back at 15% a year; no value tonight |
| 10 Cap | 17.78 | +158% | Owner's earnings (operating cash flow less maintenance capex) capitalised at 10% |
| Payback Time | - | - | Eight years of compounded free cash flow: the price at which the business pays for itself; no value tonight |
| DDM | 3.68 | -47% | Dividend discount model: next year's dividend ÷ (10% − 3% growth); needs a dividend |
| EPV | - | - | Earnings power value: current EPS capitalised at 9% with no growth; no value tonight |
| Zombie (liquidation) | -59.47 | -963% | Current assets less all liabilities, per share: the balance-sheet floor. Not in the average |
| Wall St target | 11.50 | +67% | Analysts' average 12-month price target. Not in the average |
Quality and financial health
Industrial Logistics Properties Trust scores only 4 of 9 on the Piotroski F-score, which fails the Sunday Scan's "6 or more" rule. A reading this low means several of the basic tests - positive earnings, positive operating cash flow, falling debt, no new share issuance - are not met. A GLS Moat score of 2.2/10 is a weak reading: the ten-year history the score grades (revenue, EPS, book value, margins, cash flow, share count, ROIC) has not been steady, so the Moat part of the Wheel Score contributes little.
Returns on capital are thin or negative - ROIC -1.4%, ROE -13.5%, ROA -1.3% - with debt at 8.63 times equity and a free-cash-flow yield of 11.8%. Debt of 8.63 times equity is on the high side for the sector and is worth checking against the cash flow before treating the stock as a long-term hold.
The dividend yield is 3.63% at a payout ratio of -28%; for a wheel trader holding assigned shares the dividend adds to the covered-call premium, and the ex-dividend date is worth knowing before a call is sold.
Institutional ownership scores 6/10, insider activity 10/10 and Congressional trading 5/10 on the GLS smart-money scales; the last recorded insider buy was on 10 Sep 2026.
| Piotroski F-score | 4 / 9 | ROIC | -1.4% |
|---|---|---|---|
| GLS Moat | 2.2 / 10 | ROE | -13.5% |
| Debt / equity | 8.63 | ROA | -1.3% |
| Free-cash-flow yield | 11.8% | Payout ratio | -28% |
| Institutions | 6 / 10 | Insiders · Congress | 10 · 5 / 10 |
Wheel Score 45: Weak
With a Wheel Score of 45 Industrial Logistics Properties Trust sits in the Weak band, capped at 45 because the engine files it as Speculative / Distressed. The parts - Value 25/25, Health 9/20, Moat 3/15, Premium 20/20, Stability 6/20 - show where: Moat (3/15) scores lowest.
Implied volatility is 53% on the near-the-money contracts 20-60 days out - inside the 35-60% range the Wheel Score pays full marks for: enough premium to be worth selling, not so much that the risk is unpaid. Chain open interest is 12,195 contracts across all expiries - enough for the wheel at normal size.
Volume runs at 463k shares a day on a market cap of $460M, with a beta of 2.54 - a high beta, so the stock tends to move more than the market and a strike can be gapped through; the Stability part of the Wheel Score gives that 6 of 20.
| Part | Points | From | |
|---|---|---|---|
| Value | 25 / 25 | 69% margin of safety | |
| Health | 9 / 20 | Piotroski 4/9 | |
| Moat | 3 / 15 | moat 2.2/10 | |
| Premium | 20 / 20 | implied volatility 53% | |
| Stability | 6 / 20 | 463k shares/day, $460M cap, beta 2.54 |
The Wheel Score ranks ~7,400 US stocks for selling cash-secured puts and covered calls; it is updated nightly and is not a recommendation. The walkthrough lesson shows how the score fits into a trade, start to finish.
Upcoming events
Industrial Logistics Properties Trust reports earnings on 27 Oct 2026 (after the close) - inside the 14-day window the Sunday Scan avoids, because a put sold now would carry the report's gap risk. The shares go ex-dividend on 19 Oct 2026 (0.1000 per share), so a covered call sold before then carries a small early-assignment risk around that date.
Earnings, dividend, IPO, split and economic calendars for the whole market, filterable to your watchlists.
Similar stocks in REIT - Industrial
The 12 companies below are the closest to Industrial Logistics Properties Trust by market cap within the REIT - Industrial industry, each with its own fact sheet; the Compare page puts up to eight of them side by side.
| Stock | Close | Fair value | MoS | Wheel | Mkt cap |
|---|---|---|---|---|---|
| TPTS Terra Property Trust, Inc. | 12.65 | 11.62 | -9% | 15No options | $308M |
| IIPR Innovative Industrial Properties, Inc. | 53.20 | 76.13 | +30% | 74Good | $1.5B |
| SMA Smartstop Self Storage REIT Inc | 32.59 | 29.99 | -9% | 59Fair | $1.8B |
| LXP LXP Industrial Trust | 61.01 | 53.23 | -15% | 66Good | $3.6B |
| COLD Americold Realty Trust, Inc. | 13.92 | 7.20 | -93% | 45Weak | $4.0B |
| STAG STAG Industrial, Inc. | 35.88 | 28.22 | -27% | 54Fair | $6.9B |
| TRNO Terreno Realty Corporation | 64.81 | 49.67 | -30% | 52Fair | $7.1B |
| LINE Lineage, Inc. | 34.11 | 36.11 | +6% | 45Weak | $7.8B |
| FR First Industrial Realty Trust, Inc. | 58.78 | 31.42 | -87% | 56Fair | $7.8B |
| REXR Rexford Industrial Realty, Inc. | 37.50 | 22.01 | -70% | 45Weak | $8.6B |
| CUBE CubeSmart | 38.56 | 28.62 | -35% | 57Fair | $8.7B |
| EGP EastGroup Properties, Inc. | 194.43 | 97.58 | -99% | 51Fair | $10.5B |
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Start free See the Sunday ScanQuestions about ILPT
Is ILPT undervalued right now?
By the GLS models, yes: at 6.89 the stock is 69% below the average fair value of 22.07 (data as of 16 Oct 2026). Whether the discount is deserved is the question to research next.
What is the Wheel Score of ILPT and what does it mean?
ILPT scores 45 out of 100 (Weak). The Wheel Score blends the margin of safety (25 points), Piotroski health (20), the GLS moat (15), the option premium on offer (20) and trading stability (20) into one number that ranks stocks for the wheel strategy - selling cash-secured puts, then covered calls if assigned. 80 and above is Prime, 65-79 Good, 50-64 Fair, under 50 Weak.
What is the GLS fair value for ILPT?
22.07 per share as of 16 Oct 2026 - the simple average of the 3 valuation models (out of nine: DCF, Graham Number, Graham Growth, Lynch, GLS Growth, 10 Cap, Payback Time, DDM and EPV) that produced a positive value. The models run every night on the latest filings; the Quote page lets you switch any of them off and add a margin of safety of your own.
When does Industrial Logistics Properties Trust report earnings next?
The next earnings report is due on 27 Oct 2026 (after the close), 11 days from the data date of 16 Oct 2026. The Calendars page lists every upcoming report with its time of day.
Does ILPT have listed options, and how liquid are they?
Yes. The nightly snapshot found 64 listed contracts with 12,195 open interest across all expiries and implied volatility of 53% on the near-the-money contracts. The Options scanner lists the cash-secured put and covered call set-ups with premium and annualised yield worked out.