Northern Trust Corp Buys 58,132 Shares of Plymouth Industrial REIT, Inc. (NYSE:PLYM)

Northern Trust Corp boosted its holdings in Plymouth Industrial REIT, Inc. (NYSE:PLYM) by 15.9% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 424,744 shares of the company’s stock after purchasing an additional 58,132 shares during the quarter. Northern Trust Corp owned about 0.94% of Plymouth Industrial REIT worth $7,560,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Mesirow Institutional Investment Management Inc. purchased a new position in Plymouth Industrial REIT during the 4th quarter worth $10,433,000. Adage Capital Partners GP L.L.C. purchased a new position in Plymouth Industrial REIT during the 4th quarter worth $9,612,000. Thompson Siegel & Walmsley LLC purchased a new position in Plymouth Industrial REIT during the 4th quarter worth $7,443,000. Heartland Advisors Inc. boosted its holdings in Plymouth Industrial REIT by 75.5% during the 4th quarter. Heartland Advisors Inc. now owns 351,000 shares of the company’s stock worth $6,248,000 after acquiring an additional 151,000 shares during the last quarter. Finally, Invesco Ltd. boosted its holdings in Plymouth Industrial REIT by 120.6% during the 4th quarter. Invesco Ltd. now owns 151,769 shares of the company’s stock worth $2,701,000 after acquiring an additional 82,965 shares during the last quarter. Institutional investors and hedge funds own 92.67% of the company’s stock.

Plymouth Industrial REIT Price Performance

NYSE PLYM opened at $16.54 on Monday. The company has a market capitalization of $753.55 million, a price-to-earnings ratio of 827.20 and a beta of 1.11. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.12 and a current ratio of 0.12. The stock has a 50-day moving average of $15.53 and a 200 day moving average of $17.00. Plymouth Industrial REIT, Inc. has a one year low of $12.70 and a one year high of $24.71.

Plymouth Industrial REIT (NYSE:PLYM) last announced its earnings results on Thursday, May 1st. The company reported $0.44 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.45 by ($0.01). Plymouth Industrial REIT had a return on equity of 0.20% and a net margin of 0.46%. The firm had revenue of $45.57 million during the quarter, compared to analysts’ expectations of $47.69 million. On average, sell-side analysts forecast that Plymouth Industrial REIT, Inc. will post 1.83 EPS for the current year.

Plymouth Industrial REIT Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 30th. Stockholders of record on Monday, March 31st were given a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 5.80%. The ex-dividend date of this dividend was Monday, March 31st. Plymouth Industrial REIT’s dividend payout ratio is currently 31.48%.

Analyst Ratings Changes

A number of research firms have recently commented on PLYM. Truist Financial lowered their target price on Plymouth Industrial REIT from $20.00 to $18.00 and set a “hold” rating on the stock in a research note on Monday, March 24th. Barclays lowered their target price on Plymouth Industrial REIT from $22.00 to $18.00 and set an “equal weight” rating on the stock in a research note on Monday, March 31st. Wedbush set a $17.00 target price on Plymouth Industrial REIT in a research note on Friday, February 28th. KeyCorp lowered their target price on Plymouth Industrial REIT from $23.00 to $18.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 8th. Finally, Robert W. Baird lowered their target price on Plymouth Industrial REIT from $20.00 to $19.00 and set an “outperform” rating on the stock in a research note on Thursday, May 8th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $21.10.

Plymouth Industrial REIT Profile

Plymouth Industrial REIT, Inc (NYSE: PLYM) is a full service, vertically integrated real estate investment company focused on the acquisition, ownership and management of single and multi-tenant industrial properties. Our mission is to provide tenants with cost effective space that is functional, flexible and safe.