Nuveen Asset Management LLC Reduces Position in Plymouth Industrial REIT, Inc. (NYSE:PLYM)

Nuveen Asset Management LLC lessened its stake in shares of Plymouth Industrial REIT, Inc. (NYSE:PLYM) by 24.5% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 99,616 shares of the company’s stock after selling 32,254 shares during the period. Nuveen Asset Management LLC owned about 0.22% of Plymouth Industrial REIT worth $1,773,000 at the end of the most recent quarter.

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

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. Wedbush set a $17.00 price objective on shares of Plymouth Industrial REIT in a report on Friday, February 28th. Robert W. Baird decreased their price target on shares of Plymouth Industrial REIT from $20.00 to $19.00 and set an “outperform” rating for the company in a research report on Thursday, May 8th. Barclays decreased their price objective on shares of Plymouth Industrial REIT from $22.00 to $18.00 and set an “equal weight” rating for the company in a research report on Monday, March 31st. 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 research note on Monday, March 24th. Finally, KeyCorp dropped their price objective on shares of 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. One investment 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 data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $21.10.

Plymouth Industrial REIT Stock Up 0.7%

PLYM stock opened at $16.25 on Wednesday. The company has a market cap of $740.29 million, a P/E ratio of 812.65 and a beta of 1.12. Plymouth Industrial REIT, Inc. has a 52 week low of $12.70 and a 52 week high of $24.71. The company’s 50-day moving average price is $15.31 and its 200 day moving average price is $16.69. 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 (NYSE:PLYM) last posted its quarterly earnings data on Thursday, May 1st. The company reported $0.44 earnings per share for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.01). The firm had revenue of $45.57 million during the quarter, compared to analyst estimates of $47.69 million. Plymouth Industrial REIT had a net margin of 0.46% and a return on equity of 0.20%. On average, research analysts expect that Plymouth Industrial REIT, Inc. will post 1.83 earnings per share for the current fiscal year.

Plymouth Industrial REIT Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 30th. Investors of record on Monday, March 31st were given a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 5.91%. The ex-dividend date was Monday, March 31st. Plymouth Industrial REIT’s dividend payout ratio (DPR) is 31.48%.

Plymouth Industrial REIT Company 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.