Plymouth Industrial REIT, Inc. (NYSE:PLYM) Stock Holdings Increased by Ameriprise Financial Inc.

Ameriprise Financial Inc. increased its holdings in Plymouth Industrial REIT, Inc. (NYSE:PLYM) by 10.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 536,689 shares of the company’s stock after purchasing an additional 52,389 shares during the quarter. Ameriprise Financial Inc. owned 1.18% of Plymouth Industrial REIT worth $9,553,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Quadrant Capital Group LLC increased its holdings in shares of Plymouth Industrial REIT by 38.1% in the fourth quarter. Quadrant Capital Group LLC now owns 3,060 shares of the company’s stock valued at $54,000 after buying an additional 844 shares in the last quarter. Quarry LP raised its position in shares of Plymouth Industrial REIT by 74.1% during the fourth quarter. Quarry LP now owns 3,191 shares of the company’s stock worth $57,000 after purchasing an additional 1,358 shares during the period. KLP Kapitalforvaltning AS acquired a new stake in shares of Plymouth Industrial REIT during the fourth quarter worth $148,000. SG Americas Securities LLC raised its holdings in Plymouth Industrial REIT by 15.0% during the 4th quarter. SG Americas Securities LLC now owns 10,390 shares of the company’s stock worth $185,000 after buying an additional 1,358 shares during the period. Finally, Los Angeles Capital Management LLC acquired a new stake in Plymouth Industrial REIT during the 4th quarter worth about $194,000. 92.67% of the stock is currently owned by institutional investors.

Plymouth Industrial REIT Trading Down 1.8%

NYSE PLYM opened at $16.17 on Wednesday. The company has a current ratio of 0.12, a quick ratio of 0.12 and a debt-to-equity ratio of 1.42. Plymouth Industrial REIT, Inc. has a 1-year low of $12.70 and a 1-year high of $24.71. The firm’s fifty day simple moving average is $15.52 and its 200-day simple moving average is $16.97. The company has a market capitalization of $736.51 million, a PE ratio of 808.50 and a beta of 1.11.

Plymouth Industrial REIT (NYSE:PLYM) last released its quarterly earnings data on Thursday, May 1st. The company reported $0.44 EPS for the quarter, missing analysts’ consensus estimates 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 analyst estimates of $47.69 million. As a group, sell-side analysts anticipate that Plymouth Industrial REIT, Inc. will post 1.83 earnings per share for the current fiscal year.

Plymouth Industrial REIT Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 30th. Stockholders of record on Monday, March 31st were paid a dividend of $0.24 per share. The ex-dividend date was Monday, March 31st. This represents a $0.96 annualized dividend and a dividend yield of 5.94%. Plymouth Industrial REIT’s dividend payout ratio (DPR) is 31.48%.

Analysts Set New Price Targets

Several research firms have issued reports on PLYM. KeyCorp cut their price objective on Plymouth Industrial REIT from $23.00 to $18.00 and set an “overweight” rating on the stock in a report on Tuesday, April 8th. Truist Financial cut their price target on shares of Plymouth Industrial REIT from $20.00 to $18.00 and set a “hold” rating on the stock in a report on Monday, March 24th. Robert W. Baird cut their target price on shares of 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. Barclays cut their target price on shares of 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. Finally, Wedbush set a $17.00 price target on Plymouth Industrial REIT in a research report on Friday, February 28th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, Plymouth Industrial REIT presently has a consensus rating of “Hold” and an average target price 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.